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Understand the Jurisdictions Setup Requirement Before Proceed Your Register Company in Philippines
One of the great things about being involved in the business world is the endless possibilities that are available for the taking. For example, the possibility of setting up a business anywhere in the world. If you are based in one country, but looking to open a business in another country, there’s no stopping you if you have the tools and the knowledge to do so.
Registering a company in the Philippines is one option that entices investors because of what the local market has to offer. Despite the paperwork and the steps that need to be taken before beginning a business, one of the harder parts of a business is probably starting it in the first place. The first step is always the hardest, but once you’ve got the momentum going, it will be easier for you to keep moving forward.
Getting started on registering a business in the Philippines
Now that you’ve thought about registering a company in the Philippines and you’re positive that this is the right business option for you, here’s what you need to do next:
- Conduct market research. Get to know the local market even more by doing your market research and due diligence. A couple of questions you could ask yourself include is there a demand for the kind of product your service your business is offering? How soon will you be able to get your business up and running? Are the business strategies you’ve outlined feasible in the Philippines market?
- Draft up a business plan. A business without a strong foundation is one that is sure to crumble. For businesses, that strong foundation lies in the business plan. An effective business plan should provide an internal and external analysis of the industry and economy, a SWOT analysis of what the business strengths and weaknesses are, what the goals and objectives of the business are, the financial projections, marketing models, the action which needs to be taken, what the products and services are and a business overview for example.
- Prepare your funding. This is probably one of the most crucial stages of your business. Do you have the necessary funding to begin what you want? If not, how do you go about getting that funding?
- Register your business. Once you’ve sorted out the foundation of your business and thought of a suitable name, the next step is to begin registering your company in the Philippines. The documents you will need for the business registration include the Articles of Incorporation, clearance from the Bureau of Internal Revenue, Barangay Clearance as proof your business has complied with all the needed requirements and the Mayor’s permit which declares you can start a business within the intended area of operation.
The services of a professional company are available to help you get started on your business registration. 3E Accounting’s panel of experts are available to offer guidance and information to ensure your venture is a success. Contact us today to find out more.
For request of quotation and more information about Register Company in Philippines, please email us at [email protected] and we will promptly reply within 24 hours.
