What Are the Requirements for BOI Registration?
If you’re planning to maximize your business potential in the Philippines, securing incentives from the Board of Investments (BOI) is a smart move. However, the process can seem intimidating due to the long checklist, tight timelines, and fear of rejection. Don’t worry – this guide will walk you through the BOI registration requirements clearly and conversationally so you can confidently move forward.
TL;DR: Summary Box
To register with the Board of Investments (BOI) in the Philippines, your business must align with the BOI’s Investment Priorities Plan (IPP), submit a complete set of documents including SEC registration, project brief, and financial projections, and undergo an evaluation process. Foreign-owned companies and startups can apply as long as they meet industry and ownership requirements. The approval process typically takes 3 to 6 weeks.
Why Register with the BOI?
Before we dive into the requirements, here’s why businesses aim for BOI registration in the Philippines:
- Income tax holidays (ITH)
- Duty-free importation of capital equipment
- Employment of foreign nationals
- Simplified customs procedures
These benefits are part of the BOI incentives application process designed to support both local and foreign investors in priority sectors.
Summary of BOI Registration Requirements
Here is a quick look at what you’ll typically need:
- Businesses must be engaged in a priority sector under the IPP
- Fully registered company with DTI or SEC
- BOI application form
- Board resolution (for corporations)
- Project feasibility or business plan
- Audited financial statements (if applicable)
- Income tax returns (for existing businesses)
- Details of capitalization and ownership
We’ll go over each one below in more detail.
Step-by-Step BOI Registration Guide
1. Confirm Eligibility
Check if your business falls under the current Investment Priorities Plan (IPP) or Strategic Investment Priority Plan (SIPP).
Common eligible industries include:
- Manufacturing
- Agribusiness
- IT-BPM (Information Technology and Business Process Management)
- Renewable energy
- Infrastructure and logistics
2. Register Your Business Entity
Before you apply to the BOI, you must already be registered with:
- SEC (Securities and Exchange Commission) for corporations/partnerships
- DTI (Department of Trade and Industry) for sole proprietorships
3. Prepare the BOI Application Package
Here are the key documents needed for BOI registration:
- Accomplished BOI application form
- Project brief or business plan
- Company profile
- Audited financial statements (if applicable)
- Income tax return (if applicable)
- Sworn statement of capital structure
- List of foreign and Filipino stockholders
- Projected income and expenses
- Organizational chart
- Location map and plant layout (if relevant)
- Proof of availability of funding (bank certificate, etc.)
4. Submit to BOI
You can file your application either in person or through an authorized consultant. The BOI will review and may ask for clarification or additional documents.
5. Attend Interview or Presentation (if required)
BOI may require you to present your business plan or expansion strategy to assess your business eligibility for BOI incentives.
6. Evaluation Period
The BOI registration processing time generally takes 3 to 6 weeks. You may speed it up with complete documentation and proactive communication.
7. Registration Approval and Certification
Once approved, you’ll receive a Certificate of Registration, allowing you to avail of BOI incentives.
Common Challenges and How to Solve Them
Pain Point: Long Checklists and Tight Deadlines
- Solution: Use a BOI registration checklist and partner with a service provider experienced in BOI application requirements for foreign companies.
Pain Point: Fear of Rejection
- Solution: Ensure alignment with the IPP, provide accurate documents, and be prepared to clarify your project’s impact on the economy.
BOI Registration for Startups and Foreign Companies
Can Startups Apply?
Yes, startups can apply if they are:
- In priority industries
- Properly registered with DTI or SEC
- Able to provide credible projections and funding sources
What About Foreign-Owned Companies?
Foreign businesses can register as long as they comply with the Foreign Investment Negative List and meet ownership and capital requirements.
Typical documents for foreign-owned companies include:
- Proof of inward remittance
- Articles of incorporation with foreign equity breakdown
- Foreign investment application form
What Happens After BOI Registration?
Once your BOI registration is approved:
- You can start claiming your incentives
- You must comply with regular reporting
- You may need to renew your ITH or apply for additional incentives depending on performance
FAQs About BOI Registration Requirements
What are the requirements for BOI registration in the Philippines?
Your business must be in a priority sector, be a registered legal entity, and submit documents like a project brief, SEC/DTI registration, and financial projections.
Who is eligible to register with the Board of Investments?
Eligible entities include local and foreign businesses in manufacturing, agribusiness, IT-BPM, renewable energy, and other sectors listed in the IPP.
What documents do I need to submit for BOI registration?
You’ll need your company registration documents, business plan, financial statements, tax returns, and ownership structure.
Can foreign-owned companies apply for BOI registration?
Yes, as long as they are in allowed industries and meet capital ownership rules.
What are the steps involved in the BOI registration process?
Check eligibility → prepare documents → submit application → attend interviews (if required) → wait for evaluation → receive certification.
How long does it take to get BOI registration approved?
Usually between 3 and 6 weeks, depending on the completeness of documents.
Is a business plan required for a BOI application?
Yes, it’s a key requirement showing how your project will contribute to the economy.
Do I need to be a registered company before applying to the BOI?
Yes, you must be registered with the SEC or the DTI first.
Can startups qualify for BOI incentives?
Yes, if they are in a priority industry and meet documentation standards.
What industries are eligible for BOI registration?
Industries in the IPP include manufacturing, IT, agribusiness, renewable energy, and logistics.
Are there special requirements for PEZA or export-oriented companies applying to BOI?
Yes, depending on your industry, additional documentation related to export ratios or environmental compliance may be required.
Do I need a Filipino partner to apply for BOI incentives?
Not necessarily, unless your industry falls under restricted ownership rules.
What fees are associated with BOI registration?
Fees depend on the size and type of project, usually ranging from PHP 1,500 to PHP 10,000.
What happens after BOI registration is approved?
You begin enjoying your incentives and must submit compliance reports as scheduled.
Can I get assistance with a BOI application from a consultant or service provider?
Yes, and it is highly recommended for first-time applicants or foreign investors.
Final Thoughts
Understanding the BOI registration requirements is key to successfully navigating the process. With the right preparation, the fear of missing a document or getting rejected can be avoided. Whether you’re a startup, SME, or foreign investor, aligning your project with the BOI Philippines requirements opens the door to generous tax incentives and government support. For a smoother experience, consider consulting with a professional who knows how to register with BOI Philippines and can fast-track your BOI incentives application process.
Need help? Our team is ready to guide you every step of the way.