- To establish a representative office in the Philippines, the following requirements must be met:
- Must secure from the Securities and Exchange Commission (SEC) approval of the License to do business in the Philippines as a representative office of a foreign corporation with the following:
- SEC Application Form to Establish a Representative Office in the Philippines.
- Name verification slip of the company to be used. This should be reserved manually with the Securities and Exchange Commission for minimal fees for every 30 days up to a maximum of 90 days subject to renewal or online through SEC.
- Certified copy of the Board Resolution of the Parent Company authorizing the establishment of an office in the Philippines designating a Resident Agent who may be a Philippine resident individual or domestic corporation.
- Latest audited financial statements of the parent company certified by an independent certified public accountant and authenticated by the Philippine consulate/embassy.
- Certified copies of the Articles of incorporation of the parent company
- Certificate of inward remittance and Certificate of Bank Deposit if the US $30,000.00 initial capitalization.
- Resident agent acceptance of appointment, unless, the agent is the signatory in the application form; and
- Affidavit executed the President or Resident Agent stating that the applicant is solvent and sound in its financial condition.
The representative office is exempt from paying income tax in the Philippines. The representative office is not allowed to engage in income producing activities, as such, for tax purposes, it is classified as a non-resident foreign corporation not engage in trade or business in the Philippines. Not being allowed to earn income from operations, it is exempted from income tax.
Distinctions between ROHQ and RHQ