Types of Domestic Corporations
Domestic corporations encompass several types of businesses in the Philippines. The nationality of the stockholders within the corporation is an essential caveat in determining the industries in which the businesses can exist.
- 100% Filipino Owned — owned entirely by Filipino stockholders and are free to participate in any economic sector in the country to varying extents.
- Domestic Corporation with 40% Foreign Equity
- Domestic Corporation with 40.01% Foreign Equity
As detailed by the Philippine Foreign Investments Negative List, specific industries have limitations on foreign individuals’ participation.
How Do I Register My Corporation Through Loft?
- Request for a business registration proposal and price quote from Loft. Choose a business registration package and sign the service agreement.
- Provide your business address. If you don’t have a business address yet, Loft also offers a virtual office address service and private office spaces for lease.
- An invoice will be sent for the settlement of service fees, you may pay in full or by installments.
- Submit the initial documents that are needed for registration. Valid IDs, Client Information Sheet, etc.
- Sign the documents and wait for the permits to be released.
- For details about the timeline, please contact us so we can send you further information.
What incorporation services does Loft offer?
We offer the following pre-incorporation and post-incorporation services for startups.
Corporate Bank Account Opening
Virtual Office Pro
Name search availability (up to 10 names)
One-time name reservation
Drafting of the Articles of Incorporation and By-laws
Stock and transfer book registration
Bank certificate processing (if required)
Documentary Stamp Tax (DST) for Lease
Documentary Stamp Tax (DST) for Shares
Certificate of registration
Books of accounts
Authority to print receipts and invoices
Processing of primary and secondary receipts
Zoning and/or locational clearance
Direct lessor coordination
Business Permit / Mayor's Permit
Virtual Office Pro Package
- Choose a professional virtual office in any of the two Central Business District: BGC or Ortigas
- Can be used for business registration purposes
- Can be used for business correspondences such as website, email signature, business cards, marketing collaterals
- Receiving of mails and parcel
- Receiving of calls via regular trunkline
- Hot desk (10 hours/month for 2 people)
- Conference Room (5 hours/month)
- Printing (5 free B&W pages)
- Lounge acces
- Loft Community Events
- Webinar booking discount (10%)
- Free 1 hour business consultation on the following: corporate compliance, accounting, bookkeeping, and payroll management, IT setup, HR, website design & development
SEC Post-Incorporation Report
Accounting, Bookkeeping, Tax Compliance
BIR Year-End Audit Assistance
1. Preparation and submission of 1st GIS
2. Preparation and submission of MC No. 28, s.2020 compliance
3. Preparation and registration for MC No. 01, s.2021 compliance
4. Preparation and OST Registration for MC No. 03, s.2021 compliance
GIS: due within 30-days after annual meeting
All MCs on the list: due 30-days after incorporation
1. Standard Xero Subscription
● Send invoices and quotes
● Enter bills
● Reconcile bank transactions
● Capture bills and receipts
● Bulk reconcile transactions
● Short-term cash flow and business snapshot
2. Xero Training
3. Monthly reports generated from Xero
● Financial Statements
● Bank Reconciliation Statements (share bank
● General Ledger Schedule
4. Tax Compliance
● Monthly computation and preparation of BIR tax returns
● BIR Form 0619E – Monthly remittance return of creditable income taxes withheld (Expanded)
● BIR Form 2550M – Monthly value-added tax declaration
● Quarterly computation and preparation of BIR tax returns
● BIR Form 1601EQ – Income tax withheld at source including quarterly alphalist of payees
● BIR Form 1702Q – Income tax return including SAWT
● BIR Form 2550Q – Value-added tax including
summary list of sales and purchases
2. Preparation and submission of Income Tax Return with audited financial statements to the Bureau of Internal Revenue
1. Payroll computation using recommended time-keeping software
2. Payslip distribution. Emailed to employees every pay period
3. Reports for filing which includes:
● SSS PRN (Contribution Collection List)
● SSS Salary Loan Payment (ML-1)
● SSS Loan Collection (ML-2)
● Pag-IBIG Fund MCRF
● Pag-IBIG Fund STLRF
● PhilHealth SPA
● PhilHealth Employers’ Report
● Remittance Return of Income Taxes Withheld on Compensation (BIR 1601-C)
***Package includes up to 5 employees
***Disbursement c/o client
1. Audit of existing HR process
2. Creation of job offer letter
3. Creation of full time employment contract
4. Creation of regularization letter
5. Creation of company handbook
6. HR consultation
7. Hand over of all files