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Philippines BOI Registration

The Philippine Board of Investments (BOI) is the sister agency of the Department of Trade and Industry (DTI) responsible for regulating and promoting foreign investments in the country. Registering with BOI enables foreign-based companies to engage in business ventures like outsourcing, manufacturing, and construction, and to avail of numerous government-issued tax incentives and exemptions. This, in turn, promotes economic development in the Philippines, and creates numerous job opportunities for the local workforce.

Advantages of BOI Registration

Companies that register with the Board of Investments (BOI) are entitled to numerous fiscal and non-fiscal incentives, including but not limited to the following benefits:

  • Income tax holidays for 3-8 years
  • Exemption from local business taxes for a 4-6 year period
  • An equity investment in a Philippine corporation
  • Simplified customs procedures
  • Simplified employment for foreign nationals and expats
  • Exemptions from wharf dues
  • Tax credits
  • Tax exemptions on breeding stocks and agricultural produce

Documentation Requirements for BOI Registration in the Philippines

Foreign companies who wish to register with the Philippine Board of Investments (BOI) must first produce the following documentation requirements:

  • notarized application form
  • project summary – contains activities related to those listed in the Investment Priorities Plan
  • feasibility report – contains projected financial statements for the next five years

Pioneer and non-pioneer projects have different BOI registration requirements. Foreign-owned enterprises may apply for incentives if they engage in pioneer activities, exporting at least 70% of their total production. Companies are also obliged to obtain 60% Filipino ownership within 30 years of registration, unless willing to export 100% of their products. For non-pioneer companies, foreign ownership is limited to 40%, unless they export more than 70% of their annual production.