Company Registration

Hi,

Meron po kaming organization started last October 2016. Hindi po registered ang company pero ipaparegister na po namin. So nag hire kami ng iilan ng nagwowork until now.

Foreigner po ang parang financer ng mismong company. Tanong ko lang po pwede po ba nya iown ang 100% rights ng company kapag corporation ang gusto namin iestablish? At ano pong mga kailangan nya at ilang days po usually ang nacoconsume pag ganito.

Second option po is registering the company as sole po, pero under a Filipino name. Pag ganito naman pong case, gaano katagal po usually ang nacoconsume na days?

Thank you po.

2nd option is illegal. pls don't ask those types of questions here

Paano po naging illegal?
Kahit po ang magiging owner na mismo ay Filipino? Hindi na yung foreigner illegal po iyon?
Thank you.

chimiey

First I don't think this is a labor and employment case. you should ask this in a proper thread.

Here is my 2 cent. If a foreigner wanted to own 100% rights of the business as a corporation, yes pwede yun. you have to register to SEC. However, a 100% owned by a foreigner will mean that you have to put up a bond with the Philippine government, and he have to maintain that bond until he dissolve his company here.

Luke was saying that its illegal because the Filipino that will front the business have not put up a capital. He is just fronting for a foreigner and this could be deemed as a sort of money laundering.

again, this are my opinion. to get accurate answer, kindly ask it on the right thread and not here.