Setting up and Conducting Business Activities and It’s Various Facets in Philipp

Posted by Inter Biz Consulting on December 15th, 2019

An organization is what its employees make it. Employees are the backbone and identity of a company, thus making the recruitment process a very vital step for any organization. People can be hired directly by a company or can be outsourced. To bestow the responsibility of hiring staff for company, it needs to be checked about the staffing agency like the segment they cater , for a specific segment of staff it is advisable to hire an agency specialising in that sector. Philippines has become the most trending country for BPO Sector.

• Staffing Outsourcing in the Philippines is mainly due to its English speaking, educated young population. The outsourcing industry is divided into following sectors: software development, animation, data transcription, back office service, game and engineering development. Staffing outsourcing has become key to development of service sector industry. Most of international research and data companies have placed Philippines as the top preferred destination for outsourcing staffing.

• Philippines is fast developing and growing country of Asia, blessed with abundance of natural resources and educated population, the Government of Philippines is attracting foreign and local investors with sound infrastructure, various incentives and a business friendly environment. The benefits of setting up business in Philippines ranges from skilled and cheap labor, presence of Special Economic Zone (SEZ), it’s advantageous location connecting four major capitals of the region, it allows 100percent ownership of most sectors, access to the ASEAN market with immense trading opportunities and hassle free, developed transportation, communication and economic infrastructure. Company registration in Philippines requires certain rules and procedures to be followed, obtaining certain certifications and licenses. The various kind of business entities that can be established in Philippines is listed below

Sole Proprietorship
Partnership
Corporation
Branch Office
Representative Office

• Business registration in the Philippines is a hierarchical procedure of getting various government agencies to give clearance certificate and licenses, which is simplified. The steps to incorporate the business entity will primarily require to decide on the business structure, as it depends on the resource and size. Next, one has to register a business name, pay minimum deposit, register with SEC, notarize document, getting TIN, register with BIR, obtaining Barangay Clearance and other clearances.

Phillipino Government is offering Build – Operate – Transfer (BOT) scheme to encourage a business friendly environment.

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