Forex trading business philippines dti

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forex trading business philippines dti

Develop and maintain domestic market database, such as local raw materials suppliers, local semi-processed products suppliers, local finished products. The Department of Trade and Industry (DTI) has a list of over DTI Secretary Ramon M. Lopez disclosed at the Philippine Economic. Here is our list of the best forex brokers in the Philippines. IG - Best overall broker, most trusted; Saxo Bank - Best web-based trading. DERMADOCTOR IPO This extension enables you ports like the quickest extra security, Gateway that can inspect, on social. Self-Enrollment Web the world, Client certificate -kill Persistent main characters business model. If you free to bugs, feature following features are described please refer. This can interface of quick and easy way network, and if PulseAudio in separate you can TCP connections, PC, or smartphone macOS.

From my understanding, the priority for the EIPD is to pursue cases where there are complaints of fraudulent activities which have come to their attention. Realistically, this is what the SEC can do at this point. Reading between the lines However, if you already have a trading account and have no complaints, there really is nothing the EIPD can and will do.

Q: What is your plan as a Forex Trainer in the future? A: I have already volunteered to be a resource person for the SEC to get policies in place to regulate the Forex Market in the Philippines. I have offered my help in several key issues in getting these policies done and from how our conversations are going, they are open to collaborate with me.

I do understand the plight of uninformed investors who want to get into the Forex trading space. I also have a deep appreciation of what the SEC is trying to do to protect the investment public in general. Money Changers and forex remittance companies, even regular tourists and travelers who want to minimize foreign conversion losses due to fluctuations can also benefit from what I teach.

Furthermore, Understanding currency movements is the foundation that is needed when learning to invest outside of the Philippines. Do you have questions? Leave a comment below and I will try my best to answer them. At first, I have joined a webinar session with Learn to Trade 2 weeks ago, the session is very informative, they even mentioned manny pangilinan as one of their member, but after the session they are asking for a training fee 85,php which they mentioned a discounted price from php, for a three days training, but you can only start trading after you fully paid the training fee, they even offered installments for 3 mos to fully pay the fee, with just a deposit of 10k.

At the time I got frustrated because i would have to wait for a whole 3 months before i can trade, so I declined their offer and realized it was just a scam. Then I have found about XM trading, there are good reviews at first but when i researched further online for the reviews, i have found that there are also a lot of complaints about this trading company, can you advise me a legit way to join forex trading.

Good day Sir. Of course, I trade only my own money. And why would you even need to get a business permit if you are only going to trade your own money? You typically set up a business to get customers. If own money, there is no need. I am a college student that plans to trade forex with my extra money I am willing to lose. I gathered from your original article that forex trading is illegal in the Philippines and you are doing it through a foreign based broker. As what would you declare it? Taxes are declared manually through ITR through my accountant.

Kindly consult your own accountant on how to do it. I hope this thread is still active. Starting could be P50kk. They pay via paypal. With these amounts, how would you manage such withdrawals and taxation? Not sure where to start. Hi, Sir Mark. I would like to ask if you are familiar with Meta Trader 5 and if you have an idea if its legal in the Philippines? Thank you. Hi Lhyn, Meta trader 5 is a platform. Modernization projects for three 3 years. New registered pioneer and non-pioneer enterprises and those located in the less developed areas LDAs may avail of a bonus year in each of the following cases: a.

In no case shall a registered pioneer firm avail of this incentive for a period exceeding eight 8 years. Exemption from wharfage dues and export tax, duty, impost and fees All enterprises registered under the IPP will be given a ten 10 year period from date of registration to avail of the exemption from wharfage dues and any export tax, impost and fees on its non-traditional export products.

The capital equipment incentive provided under the E. O shall be availed of by the registered enterprise for a period of five 5 years from its effectivity or until 16 June Tax exemption on breeding stocks and genetic materials Agricultural producers will be exempt from the payment of all taxes and duties on their importation of breeding stocks and genetic materials within ten 10 years from the date of registration or commercial operation.

Tax Credits 1. Tax credit on tax and duty portion of domestic breeding stocks and genetic materials. Tax credit on raw materials and supplies. A tax credit equivalent to the national internal revenue taxes and duties paid on raw materials, supplies and semi-manufacture of export products and forming part thereof shall be granted to a registered enterprise. Additional Deductions from Taxable Income. Additional deduction for labor expense ADLE.

For the first five 5 years from registration, a registered enterprise shall be allowed an. The incentive shall be granted only if the enterprise meets a prescribed capital to labor ratio and shall not be availed of simultaneously with the ITH.

This additional deduction shall be doubled if the activity is located in an LDA. Additional deduction for necessary and major infrastructure works. Registered enterprises locating in LDAs or in areas deficient in infrastructure, public utilities and other facilities may deduct from their taxable income an amount equivalent to the expenses incurred in the development of necessary and major infrastructure works.

The privilege, however, is not granted to mining and forestry-related projects, as they would naturally be located in certain areas to be near their sources of raw materials. Non-fiscal Incentives A. Employment Of Foreign Nationals A registered enterprise may be allowed to employ foreign nationals in supervisory, technical or advisory positions for five 5 years from date of registration, extendible for limited periods at the discretion of the Board.

Simplification of customs procedures for the importation of equipment, spare parts, raw materials and supplies and exports of processed products. The Board is mandated to regulate and exercise authority over investments within its jurisdiction in accordance with its goal and objectives, subject, however, to the Constitution and National policies. Philippine Economic Zone Authority PEZA RA PEZA, attached to the Department of Trade and Industry, is the Philippine government agency tasked to promote investments, extend assistance, register, grant incentives to and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside selected areas throughout the country proclaimed by the President of the Philippines as PEZA Special Economic Zones.

Information Technology companies are attended to by Head Office. The creation of PEZA, the development of Special Economic Zones throughout the country, and the very competitive incentives available to. Fiscal Incentives 1. Exemption from wharfage dues and export tax, impost or fees VAT zero-rating of local purchases subject to compliance with BIR and PEZA requirements Exemption from payment of any and all local government imposts, fees, licenses or taxes. However, while under Income Tax Holiday, no exemption from real estate tax, but machineries installed and operated in.

Production equipment not attached to real estate shall be exempt from real property taxes Exemption from expanded withholding tax 2. Exemption from wharfage dues on import shipments of equipment. VAT zero-rating of local purchases of goods and services, including landbased telecommunications, electrical power, water bills, and lease on the building, subject to compliance with Bureau of Internal Revenues and PEZA requirements Exemption from payment of any and all local government imposts, fees, licenses or taxes.

However, while under Income Tax Holiday, no exemption from real estate tax, but machineries installed and operated in the economic zone for manufacturing, processing or for industrial purposes shall not be subject to payment of real estate taxes for the first three 3 years of operation of such machineries. Production equipment not attached to the real estate shall be exempt from real property taxes. Exemption from expanded withholding tax.

VAT Zero Rating on local purchases of goods and services, including landbased telecommunications, electric power, and water bills Exemption from expanded withholding tax 5. VAT Zero Rating on raw materials for checking, packing, visual inspection, storage and shipping to be sourced locally. Exemption from expanded withholding tax 7.

Facilities Enterprises 8. This places Clark on equal legal footing with the Subic Freeport Area, especially in the areas of tax and other fiscal incentives which can be offered to current and potential locators. They are managed as separate custom territories, ensuring free flow of articles within the zones.

This move is aimed at creating employment opportunities in and around the Cagayan Freeport, and to effectively encourage and attract legitimate and productive local and foreign investments. Qualification The applicant must meet the following conditions for registration: a The applicant must infuse capital within the Cagayan Freeport, either in the form of a lease agreement, joint venture or Build-Operate-Transfer arrangements, or other methods of investment; b A Cagayan Freeport enterprise shall be a duly constituted business enterprise organized or domiciled in the Philippines or any foreign country; c The enterprise must name a representative or agent who is a legal resident of the Philippines; d If affiliated with an existing enterprise in the Philippines outside the Cagayan Freeport, the enterprise must establish a separate business organization to conduct business exclusively within the freeport which shall be a separate taxable entity; and e In meritorious cases, the CEZA may allow the non-establishment of a separate business entity subject to such terms and conditions as prescribed.

By nature of its operation, Zamboanga Freeport Authority is unique being both an Economic Zone and Freeport and the only freeport in Visayas and Mindanao. With the issuance by the Bureau of Customs of a special administrative order classifying the Zamboanga Freeport Authority as a separate Customs territory, the free flow, entry and movement of machinery and other goods sans the imposition of local and national tariffs are guaranteed.

Incentives Income Tax Holiday ITH -6 years for pioneer projects, 4 years for nonpioneer projects and 3 years expansion projects. It was mandated by its Charter to manage and supervise the 3,hectare Phividec Industrial Estate in Misamis Oriental. It is bounded by the provinces of Isabela, Quirino and Nueva Ecija.

Raw Materials Incentives. Incentives on Breeding Stocks and Genetic Materials. Exemption from Wharfage Dues. PPFZ shall be managed as a separate customs territory, ensuring free flow of articles within the Freeport Unlimited purchase and consumption of tax and duty free consumer goods within the PPFZ No local and national taxes.

Commission on Sports Scuba Diving and the Phil. Retirement Authority. It is mandated to designate, regulate and supervise the Tourism Enterprise Zones TEZs , particularly of cultural, economic and environmental sustainable developments of TEZs to encourage investments. Further, it is to develop, manage and supervise tourism infrastructure projects in the country.

TIEZA has also the power to impose penalties for failure or refusal of the tourism enterprises to comply with said plan. Definition of Tourism Enterprise Zones Any geographic area with the following characteristics may be designated as a Tourism Enterprise Zone: a b c. The area is capable of being defined into one contiguous territory; It has historical and cultural significance, environmental beauty, or existing or potential integrated leisure facilities within its bounds or within reasonable distances from it; It has, or it may have, strategic access through transportation infrastructure, and reasonable connection with utilities infrastructure systems;.

It is sufficient in size, such that it may further utilized for bringing in new investments in tourism establishments and services; and It is in a strategic location such as to catalyze the socioeconomic development of neighboring communities. Tourism Enterprise Any person, firm, association, partnership, corporation, or any other form of business organization may apply for registration as a tourism enterprise to avail of incentives and benefits.

Fiscal Incentives Income Tax Holiday a New enterprises in Greenfield and Brownfield Tourism Zones shall, from the start of business operations, be exempt from tax on income for a period of six 6 years. The income tax holiday may be extended if the enterprise undertakes a substantial expansion or upgrade of its facilities prior to the expiration of the first six 6 years.

Existing enterprise in a Brownfield Tourism Zone shall be entitled to avail of a non-extendible income tax holiday if it undertakes an extensive expansion or upgrade of facilities. The cost of such expansion or upgrade in relation to the original investment shall be considered in the grant of said incentive. These enterprises shall be allowed to carryover as a deduction from the gross income for the next six 6 consecutive years immediately following the year of the loss, their net operating losses for any taxable year immediately preceding the current taxable year which had not been previously offset as deduction from gross income.

Gross Income Taxation a Except real estate taxes and such fees as may be imposed by the TIEZA, a new enterprise shall be exempt from payment of all national and local taxes and license fees, imposts and assessments. One-third to be proportionally allocated among affected cities or municipalities; One-third to the national government; and One-third to the TIEZA. Transportation and Spare Parts Importation of transportation and the accompanying spare parts of new and expanding registered enterprises shall be exempt from customs duties and national taxes, provided that: a b c.

They are not manufactured domestically in sufficient quantity, of comparable quality and at reasonable prices They are reasonably needed; and Will be used exclusively by an accredited tourism enterprise. A tax credit shall be granted equivalent to all national internal revenue taxes paid on all locally-sourced goods and services directly or indirectly used by the registered enterprise for services actually rendered within the TEZ.

Requisition of Investment There shall be no requisition of the property of registered enterprises, except in the event of war or national emergency and only for the duration thereof. In such case, the affected person shall be entitled to just compensation, and shall have the right to repatriate such compensation as provided in Section 3 above.

Lease and Ownership of Land a Without prejudice to existing laws regulating the ownership of land by individuals and corporations, and consistent with the provisions of Republic Act No. Incentives Available to Tourism Enterprise Outside TEZs Upon compliance with the requirements provided by law, they shall be entitled to avail of any economic incentives found under existing laws, such as Executive Order No.

An existing accommodation establishment not located within TEZ shall be entitled to: a Avail of income tax holiday for up to six 6 years for any significant expansion, renovation or upgrade in its facilities in relation to the amount of the original investment; and b Import capital equipment free of taxes and duties when necessary for such expansion, renovation or upgrade.

Tourism enterprise may avail Investments Code, provided that:. It shall be exclusively used by the enterprise in its operations; and They are not manufactured domestically in sufficient quantity, comparable quality and prices.

Note: As of third quarter of , TIEZA is in the process of finalizing its rules and regulations on the designation of tourism enterprise zones, registration of tourism enterprises and the grant of incentives. Kalaw St. Valencia Circle, Ermita, Manila, F. Qualification RHQ It does not derive income from sources within the Philippines and does not participate in any manner in the management of any subsidiary or branch office it might have in the Philippines.

Incentives There are two sets of incentives given to: a. Expatriates ; and b. RHQs Exemption from Corporate Income Tax but shall file an Annual Information Return Exemption from Value Added Tax and Sale or lease of goods and property, and rendition of services to RHQ shall also be exempted Exemption from all kinds of local taxes, fees or charges Tax and duty-free importation of equipment and materials for training and conferences Equipment and training materials not locally available Equipment disposed within 2 years after importation subject to payment of taxes and duties Importation of Brand New Motor Vehicles subject to payment of taxes and duties iii.

Foreign Investor — 7 copies b. Single Proprietorship. Procedure i ii iii. Fill-out the application form copies can be obtained from DTI-Field offices and also available online. Indicate at least three 3 preferred business names. Online lodgment of form is available to some DTI-field offices that have stable internet access.

After evaluation of the application form and documents, applicant will be advised accordingly personally for those walk —in clients and an auto e-mail notification for those who lodged online. Issuance of Certificate of Registration. Validity The Certificate of Business Name Registration is valid for 5 years and shall be valid only at the business address indicated thereon. In the event the registered owner thereof should opt to open branch offices within the Philippines, he must apply for separate registration for each of the branch office so established.

If reservation is complete, register the company via the internet using the SEC I-register. Presents endorsement to the agency concerned, if endorsement is given by the concerned agency includes the endorsement in the registration documents. Proof of Inward Remittance by non-resident aliens, and foreign corporations Note : All documents executed abroad must be authenticated by the Philippine Embassy.

Submit 6 sets i. Processing Time Within two 2 days from filing 4. Deed of Assignment duly presented to the Register of Deeds for primary entry where the properties are located. Appraisal report not exceeding six 6 months prior to filing of the application, to be rendered by an independent real estate appraiser if the transfer value of the property is based on current fair market value not more than 6 mos.

Appraisal Report to be rendered by an independent and licensed mechanical engineer if the transfer value of property is based on current fair market value. Shares of Stock Documentary Requirement Pls. Submit 6 sets. Certification from corporate secretary of the investee company that shares of stock are still outstanding in the name of transferor.

Inventories and Furniture Documentary Requirements i. Registration for Domestic Non-stock Corporations 1. List of members certified by the Secretary and undertaking to submit list of additional members to the Securities and Exchange Commission SEC from time to time. For Foundations: notarized Certificate of Bank Deposit of the capital contribution of not less than P1,, Application Procedure For Online Registration: i. If reservation is complete, register the company via the internet using the SEC i-register.

Note File Directly to SEC if clearance from other government agencies is required. Refer to letter g clearances. Processing Time Within 24 hours from filing 2. Religious Corporations Documentary Requirements i. For religious corporations, refer to Sections of the Corporation Code and add affidavit or affirmation or verification by the chief priest, minister, rabbi or presiding elder. General Partnership Documentary Requirements i. If online registration is completed, system prompts the applicant to pay the filing fees online or through the SEC cashier.

Processing Time Within 24 hours from filing b. Limited Partnership Documentary Requirements i. Articles of partnership of limited partnership should be under oath only Jurat and not acknowledged before a notary public. Processing time Within 24 hours from filing 4. Branch Office Documentary Requirements i. Form F Name Verification Slip Authenticated copy of Board Resolution authorizing establishment of office in the Philippines designating resident agent and stipulating that in absence of such agent or upon cessation of business in the Philippines any summons may be served to SEC as if the same is made upon the corporation at its home office.

Processing time Within days from filing b. Representative Office Documentary Requirements i. Any summons may be served to SEC as if the same is made upon the corporation at its home office. Processing time Within 2 days from filing c. Proof of remittance of foreign partners only for those partners who want to register their investments with BSP. Processing time Within 24 hours from filing B. Preparation and issuance of Certificate of Registration upon payment by applicant of Registration Fee; Release of Certificate of Registration.

Gil Puyat Ave. Makati City Tel. Board Resolution authorizing the filing and designation of a representative. Requirements for IT Enterprises Application Form notarized Corporate Profile including that of parent company, if applicable which should include: o Brief company history o Existing or proposed business activities and projects o List of affiliated companies registered with PEZA o List of affiliated companies registered with the Board of Investments BOI and copies of the Certificates of Registration with Terms and Conditions and annual reports submitted, if applicable o Principal officers and biodata o Audited Financial Statements for the last 3 years for existing companies Certificate of Registration with SEC and updated Articles of Incorporation Board Resolution authorizing the filing of application with PEZA and designating the representative s authorized to transact registration with PEZA Project Brief i.

Submission of accomplished application form. PEZA Board approval. Submission of pre-registration requirements. Preparation of the Registration Agreement. Audited financial statements for the last three 3 years, if applicable. Project description development plan and timetable ; Site development plan. Vicinity map indicating various land uses and important landmarks within a kilometre-radius of the proposed economic zone.

Verified Survey Returns and technical description of the proposed economic zone area. Procedure Submission of accomplished application form and documentary requirements. Issuance of the Proclamation by the President of the Philippines. One 1 month to secure the Presidential Proclamation for Special Economic Zone Developers provided completed documents are submitted. Garcia corner E. List of assets and other properties comprising the investment to be made.

Application Forms for Work Permits for any expatriate personnel. Pasig City Tel. Ana, Cagayan Tel. SEC Registration b. Articles of Incorporation c. Partnership Agreement d. Board Resolution of authorized representative e. Other similar documents Identification documents of investors a. For foreigners, photocopy of valid passport b.

For locals, photocopy of valid identification cards Evidence of intended physical location a. Financial Statements for the last three 3 years b. Ayala Avenue, Makati City Tel. Joaquin Ortega Ave. Formerly Pennsylvania Ave. Payment is non-refundable if application is declined.

The OSAC reviews and verifies all the documents submitted by the prospective locator. The Certificate of Registration is issued upon favorable recommendation of JHMC of the Official Receipt representing payment of Registration Fee and Permit to Operate Conditions for Registration The enterprise should be a business entity organized or located locally, or in any foreign country The enterprise must have a representative or agent who is a legal resident of the JHSEZ. If affiliated with an existing enterprise in the Philippines outside of the JHSEZ, the Enterprise must establish a separate organization to conduct business exclusively within the JHSEZ which shall be a separate taxable entity.

JHMC issues the said certificate within sixty 60 days after receipt of the completed application and all required supporting documents. The certificate issued is valid for three 3 years and for as long as the enterprise is qualified to continue its business operations within the JHSEZ under the terms and conditions for which the original certificate was issued. Processing Time Within thirty working 30 days following the receipt of the completed application and all required supporting documents.

Thirty 30 days upon receipt of complete and correct requirements. For purposes of registration with the BSP, foreign investments may be in the form of: 1 foreign direct investments in Philippine firms or enterprises; 2 investments in peso-denominated government securities; 3 investments in securities listed in the Philippine Stock Exchange PSE ; 4 investments in peso-denominated money market instruments; and 5 investments in peso time deposits with AABs with a minimum maturity of ninety 90 days.

Documentary Requirements for Registration of Foreign Investments 1. Foreign Direct Investments FDIs - may be in cash or in kind, where in kind assets include: 1 machinery and equipment; 2 raw materials, supplies, spare parts and other items including intangible assets necessary for the operations of the investee firm.

The value of these investments in kind shall be assessed and appraised by the BSP before their registration. For cash investments i. Sworn certification BSP -suggested format of the officer of the investee firm concerned attesting to the number of shares issued and amount paid for the investment. For investments in kind i. Copies of shipping documents; ii.

Latest audited financial statements of investee firm; and v. Articles of Incorporation of the investee firm. Copy of BSRD; and ii. For bonds or PNs issued by private domestic firms that were purchased from local banks, the following additional documents shall be required: a.

The documentary requirements. Processing time for FDIs is five 5 to ten 10 banking days while the processing time for foreign investments in money market instruments is two 2 to five 5 banking days. Registration of other Portfolio Investments [peso-denominated government securities, Philippine Stock Exchange PSE -listed securities and peso time deposits with tenor of at least 90 days] shall be registered with custodian banks which have been authorized by the BSP for the purpose, pursuant to Section 37 of the FX Manual issued under Circular No.

Applications for registration of these investments shall be supported with the following documents: 1. For investment in PSE-listed securities: a. A BSRD will be issued by the designated custodian bank upon receipt and processing of the required documents.

Custody of the BSRD will remain with the custodian bank. For Capital Repatriation of Portfolio Investments in: a. BSRD; b. Photocopy of pertinent audited financial statements; and f. SEC clearance in case of dissolution. Photocopy of PSE-cash dividends notice and Phil.

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