What Is A Limited Liability Corporation?

Where will I register my Limited Liability corporation in the philippines?

• WHAT ARE THE STEPS IN REGISTERING A LIMITED LIABILITY CORPORATION IN THE PHILIPPINES

• Answer:

  Corporations are separate juridical persons established under the Philippines Corporation Code and regulated by the Philippines Securities and Exchange Commission (SEC). They are an entity separate and distinct from that of the shareholders. The liability of the stockholders of a corporation is limited to the amount of their share capital. A corporation can either be stock which divides its dividends of profits based on the share structure or non-stock company which is organized principally for public purposes such as charitable, educational, and cultural, it does not issue stock. In the Philippines there is no Limited Liability Corporation LLC, the closet thing would be a corporation. It's structure allows for protection to the owners of the company. If a registered company is 60% Filipino owned and 40% foreign-owned, it is considered a Filipino corporation. If its more than 40% foreign-owned, it is considered a foreign-owned domestic corporation. This is important for transactions of land ownership, tax-incentive programs, and businesses that have restriction on the amount of foreign ownership allowed. A Corporation is good for almost any business, with a more complex structure to protect it's members and shareholders. A Philippines corporation can be 100% foreign owned as long is it is not listed on the Philippines Foreign Investment Negative List.