PHILIPPINES Establishing and Registering a Branch Office service
Establishing and Registering a Branch Office
A foreign branch office is an organized corporation that is registered in the Philippines under existing foreign laws.
A foreign branch office is an organized corporation that is registered in the Philippines under existing foreign laws. A branch office should carry out the business activities of its parent company, and is authorized to earn income from its operations inside and outside the Philippines. Its main purpose is to provide marketing, sales, or customer assistance to new and existing customers of its parent corporation. It may also be used to distribute products, disseminate information, or merely establish the presence of its parent company within the Philippines.
PHILIPPINES Establishing and Registering a Branch Office service Requirements:
- Accomplished SEC F-103 form
- Secured Name Verification Slip
- Authorized Board Resolution for the creation and establishment of the foreign branch office in the Philippines*
- Audited Financial Statements (AFSs) of the parent company*
- Authenticated copies of the Articles of Incorporation and By-Laws of the parent company (or equivalent)*
- Authorized resident agent for the Philippine office (must have Filipino residency)
- Certified remittance of minimum paid-up capital to local bank
- Obtained licenses and clearances from necessary government offices (if applicable)
*Specific requirement must be authenticated in the Philippine Embassy/Consulate of the parent company’s host country.
Procedure:
- Secure Name Reservation from SEC
- Prepare necessary parent company documents for authentication
- Open “Non-Resident” Account with a local bank
- Complete necessary application forms
- Present Registered Agent Appointment (if applicable)
- Pay filing fees
- Secure Certificate of Registration from SEC
- File registration with BIR
- Register with applicable government offices (if employing individuals)
- Obtain business and mayor’s permit from city of operations
A foreign branch office is 100% owned by the parent company and is not considered a Filipino entity, but a foreign entity licensed to do business within the country. A branch office is taxed at a rate of 30% on profit and dividend tax may apply on remitting profits back to the parent company.
BGC and Co. CPAs ’s services include:
- Obtaining business and mayor’s permit
- Office fitout and setup
- HR consulting
- Drafting employee contracts and labor manuals
- Providing recruitment and executive search
- Accounting, bookkeeping, and financial outsourcing services
- Outsourcing payroll processing
- On-going corporate compliance and filing
A branch office is a perfect company structure for foreign entities wishing to transact in the Philippines but not wanting to register under a domestic corporation. Since a new organization will not be created, ownership of the branch office belongs completely to the foreign entity. BGC and Co. CPAs can aid your company and greatly reduce the registration time in establishing your company’s branch office in the Philippines.
BGC and Co. CPAs is a mid-sized progressive auditing firm providing comprehensive set of cost effective solutions to organizations like yours.
Our services include auditing, accounting, bookkeeping, business management, and HR consulting. Further, we provide other business services like VISA processing in Bureau of Immigration (BI), Philippine Retirement Authority (PRA).
We are equipped with state of art tools and techniques along with dedicated professional to evaluate potential opportunities and risks effective auditing and assurance services. We understand a value adding auditing and assurance service focus on scope of business improvement rather than merely preparing financial statements and reporting on figures.
The firm was formed to assist clients on the preparation of compliances relating to tax, financial management, forecasting and accounting software and system installation. Assist clients in tax investigations, internal auditing procedures and provide on financial, taxation, accounting and auditing matters when needed. Processing of business registration, cancellation / termination.
Our Mission
Deliver reliable cost effective professional services in time meeting specific customer requirements.
Our Vision
To become one of the best auditing and accounting firm in the Philippines providing the utmost satisfaction to all the clients. We would like to be known as one of the finest company to partnered with in all the aspects.
Our Team
Our teams of dedicated professionals led by senior qualified accountants are obliged to give you quality services which will enable you to serve your clients better and there by improve your business. We together with our associates enable to give you the best in the industry.
ABOUT OUR SERVICES
Auditing and Assurance
We are equipped with state of art tools and techniques along with dedicated professional to evaluate potential opportunities and risks delivering effective auditing & assurance services. We understand value adding auditing and assurance service focus on scope of business improvement rather than merely preparing financial statements and reporting on figures.
Our expertise in analyzing accounting systems, designing better systems with proper internal controls and management information reporting help our clients to adequately plan their business building strategy and give them the confidence to pace up with the rapidly growing economy.
Accounting and Bookkeeping
Accounting and bookkeeping is a necessity of every organization irrespective of its size. Our professionally qualified and experienced accountants understand and analyze business transactions and ensure compliance with the accounting standards. BGC has well trained staff familiar with many of the accounting system and most especially to the rapid changes in the BIR rules and regulations. Qualitative and timely accounting reports are crucial for the success of any business organization. BGC ensures relevant and reliable financial reports are delivered on regular intervals to assess performance and to facilitate decision making. Outsourcing of accounts department helps you to get professional expertise at lower cost and BGC provides the most efficient and effective bookkeeping solutions.
We assist you with below services:
• Accounts preparation and supervision
• Preparation and presentation of financial reports
• Bookkeeping services
• Payroll processing
• Training of accounting staff
Business Set-up and Termination
We do assist in setting up different types of business organizations through registrations to different government agencies such as:
• Securities and Exchange Commission (SEC);
• Bureau of Internal Revenue (BIR);
• Local Government Unit (LGU);
• Department of Trade and Industry (DTI);
• Social Security System (SSS);
• Philippine Health Insurance (Philhealth);
• Pag ibig;
• Food and Drug Administration (FDA)
We also assist our foreigner clients for the following:
• VISA extension;
• Bureau of Internal Revenue (BIR);
• 9g VISA;
• Special Resident Retiree’s VISA (SRRV)
• Social Security System (SSS);
• Passport Renewal
SERVICES
CONTACT US
ADDRESS
- 7TH FLOOR, PCCI CORPORATE CENTER, L.P. LEVISTE ST., SALCEDO VILLAGE, BRGY. BEL-AIR MAKATI, PHILIPPINES 1209
- Info@bgcco.ph
- lconvento@bgcco.ph
- Working Hours : 8:00 a.m - 5:00 p.m
PROFILE
AUTHORIZED INSTITUTION
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