Comprehensive Corporate Compliance in the Philippines
Ensure your business is legally compliant 24/7, 365 days a year. BCGF helps you stay on top of general corporate housekeeping work and mandatory annual filings. Our dedicated team also provides timely updates on regulatory changes to keep your business informed.
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Why Corporate Compliance Is Essential
After business registration, companies need to regularly ensure that all aspects of their business comply with applicable Philippine laws. Effective corporate compliance helps avoid costly fines, lawsuits, reputational damage, and business license revocation.
Corporate compliance isn’t a one-time endeavor; it’s an ongoing process. Here at BCGF, we understand the challenges of ensuring your business is legally compliant at all times. We can guide you through the ins and outs of regulatory compliance in the Philippines.
BCGF's Corporate Compliance Services
Once your company is up and running, the BCGF Team can provide you with the following corporate compliance services on a retainer basis or as-needed service. Choose which options best suit your business needs.
Visa Services
We can assist you and your employees in securing Alien Employment Permits (AEP), foreign taxpayer TIN, working visas, special permits, tourist visa extensions, and other related requirements.
Intellectual Property
Business Address Change
Ad Hoc Corporate Services
We provide a range of on-demand corporate services, including filing board resolutions, printing and issuing stock certificates, updating company statutes, annual filings with the SEC/BIR, and offering legal assistance for small businesses.
How Corporate Compliance Works in the Philippines
Corporate compliance encompasses a wide array of activities. The specific requirements you need to adhere to will depend on your business’s nature and the industry in which you operate. Below is a fundamental overview of corporate compliance in the Philippines.
Regulatory Compliance
- Renewal of business permits at the city or municipal level
- Submission of General Information Sheets (GIS) and Audited Financial Statements (AFS) to the Securities and Exchange Commission (SEC)
- Application for additional licenses or certifications with relevant government agencies, if necessary
- Notification of changes in business address, if applicable
- Amendments to registration documents, if required
Corporate Governance
- Timely updates to General Information Sheets (GIS) and Audited Financial Statements (AFS)
- Establishing and managing a company bank account
- Organizing annual general board meetings
- Communicating significant developments to shareholders
- Maintaining accurate records of all company-related documents (e.g., by-laws, shareholder agreements, meeting minutes)
- Managing contracts to ensure all contractual obligations are fulfilled
Tax Compliance
- Submission of accounting books to the Bureau of Internal Revenue (BIR)
- Filing of the Annual Information Return of Income Taxes Withheld on Compensation (BIR Form 1604-CF)
- Filing of the Annual Information Return of Creditable Income Taxes Withheld (Expanded) / Income Payments Exempt From Withholding Tax (BIR Form 1604-E)
- Submission of the Certificate of Compensation Payment/Tax Withheld (BIR Form 2316)
- Filing of the Annual Income Tax Return (BIR Form 1701)
- Submission of Audited Financial Statements (AFS) to the BIR
Labor Compliance
For companies with employees, here’s an overview of compliance requirements:
- Mandatory contributions to the Social Security System (SSS)
- Mandatory contributions to the Philippine National Health Corporation (PhilHealth)
- Mandatory contributions to the Home Development Mutual Fund (Pag-IBIG Fund)
- Mandatory annual 13th-month pay bonus which is equal to one month’s salary
- Re-registration with Department of Labor and Employment (DOLE) in case of change in business name, location, ownership, re-opening after previous closing
- Submission to DOLE of Annual Establishment Report on Wages (AERW) which contains updated information on employment status and other workplace related data
Frequently Asked Questions (FAQs) on Corporate Compliance
BCGF has an in-house corporate lawyer along with a team of experienced accountants and business compliance specialists.
As long as your requirements fall within the realm of corporate law, our team can tailor a custom service for you. Please share more about your request by reaching out to us through email or phone. Alternatively, you can fill out our brief contact form.
BCGF collaborates with both domestic companies and foreign-registered businesses aiming to operate in the Philippines.
If you need a consultation before proceeding, we provide legal advice tailored to various types of business owners. Feel free to reach out to us via email or phone, or you can fill out our short contact form.
Unless you purchase a Virtual Office or Private Office service from BCGF, you’ll need to make a paid booking each time you wish to access our spaces. For any further questions or clarifications, please don’t hesitate to contact us via email or phone.
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