More and more Filipinos and foreigners alike are showing great interest in engaging in their own businesses in the Philippines as manifested in the growing numbers of local and foreign companies established every year. The Philippines with its’ strategic location in Asia, its’ good foreign relation abroad and where english is widely spoken makes this country a competitive place to open up a business. In principle anyone, regardless of sex, religion or nationality is free to engage in a business in the Philippines. And with the liberalization of the foreign investment law, 100% foreign equity may be allowed in all areas of investment except those reserved for Filipinos by mandate of the Philippine Constitution and existing laws.
Putting up a business is as easy as ABC if you know the procedure beforehand but could also be a nightmare if you lack the necessary information. Gone are the days that we pay an errand boy/girl to take care of the hassles of putting up your businesses. The government is slowly modernizing as it tries to improve its services along the way. There are some phases of the procedure that can be done under the click of your fingertips. And if you are lucky (depending on the city that you are putting up your business) gettingthe necessary requirements could just be a one-stop deal. But nonetheless expect still to encounter fixers and problems. After all they are all part of this adventure.
The procedure in putting up a business will be discussed into two categories: local business and foreign business.
Famous local and international companies in the Philippines
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