Board of Investments (BOI) Registration Service
We, at FilePino, can facilitate your BOI Registration, which involves formally registering your business or project with the Board of Investments (BOI) in the Philippines. This step is essential if your company operates in priority sectors, as it unlocks a range of benefits, including tax holidays, exemptions, and various forms of government support.
Board of Investments (BOI)
The Board of Investments (BOI), an agency under the Department of Trade and Industry (DTI), promotes investments by supporting businesses listed in the Investment Priorities Plan (IPP) and serves as a one-stop shop for both local and foreign investors.
BOI Registration Incentives
If you register your business with the BOI, you can unlock exclusive fiscal and non-fiscal incentives as provided under Executive Order (EO) 226, such as tax exemptions, reduced duties, and streamlined business operations.
Fiscal Incentives
Fiscal incentives can directly reduce your company’s financial burden through tax breaks and exemptions. These can include income tax holidays, duty exemptions on capital equipment and raw materials, tax credits, and other deductions on labor expenses.
Non-Fiscal Incentives
Non-fiscal incentives can provide operational support that simplifies your business processes. These can include the employment of foreign nationals, streamlined customs procedures, importation of consigned equipment, and the privilege to operate bonded warehouses.
BOI Registration Eligibility Criteria
To qualify for BOI registration, your business must meet specific eligibility criteria, including business structure requirements, foreign ownership conditions, and compliance with legal and tax regulations.
Business Structure
If your business is 100% Filipino-owned, you’re eligible to apply for BOI registration as long as you engage in activities listed under the Investment Priorities Plan (IPP) or participate in both pioneer and non-pioneer projects that serve the local market.
Foreign Ownership
Even if your business is 100% foreign-owned, you can still qualify for BOI incentives if you’re involved in pioneer activities and meet either of these conditions: you export at least 70% of your products or services, or your project is located in a Less Developed Area (LDA).
Legal and Tax Compliance
To proceed with BOI registration, you must ensure that your business is legally and tax compliant in the Philippines, which means you have been issued a Taxpayer Identification Number (TIN) and BIR registration certificate for your business.
How We Process Your BOI Registration
Our team of company formation and business registration experts can assist you with your BOI registration — from eligibility assessment to securing your BOI certificate. We can guarantee a smooth and compliant process, so you can fully maximize the incentives available to your business.
Eligibility Assessment
We assist you in understanding the eligibility criteria, such as business activities aligned with the Investment Priorities Plan (IPP) and whether the business is foreign-owned or Filipino-owned. We ensure that all legal and tax requirements are met.
Document Preparation
We help you gather all necessary documents, including business registration certificates (SEC or DTI), financial statements, project reports, and other required forms for submission to the BOI.
Submission and Publication
We submit the BOI application form along with supporting documents and fees. Once processed, we help you fulfill the publication requirement and submit the payment for the assessment bill to receive an application number.
Evaluation and Approval
We coordinate with the BOI to ensure the smooth evaluation of the application, providing any additional information or documentation as needed. Once approved, we facilitate the submission of pre-registration documents.
Issuance of BOI Certificate of Registration (COR)
After all fees are paid and requirements are met, we ensure you receive your BOI Certificate of Registration. We also assist in completing any post-registration obligations, including annual reports and compliance with the specific terms and conditions of your registration.
FREE 30-MIN CONSULTATION
Register with the BOI and gain access to exclusive fiscal and non-fiscal incentives and operational perks that make doing business in the Philippines easier than ever.
Why Choose FilePino’s BOI Registration Service?
Access a range of fiscal and non-fiscal incentives with BOI Registration! We, at FilePino, can help you navigate the Board of Investments (BOI) registration process in the Philippines and ensure that you meet all the necessary requirements to qualify for investment incentives and regulatory compliance.
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BOI Registration FAQs
What is BOI Registration?
BOI Registration is the process of registering a business with the Board of Investments in the Philippines to access tax incentives and government support.
What incentives does BOI Registration offer?
By registering with the BOI, you can access both fiscal and non-fiscal incentives (based on E.O. 226, as amended), including tax exemptions and reductions, as well as operational advantages that make it easier for you to do business in the Philippines.
Fiscal Incentives
Fiscal incentives are financial benefits that directly impact your company’s finances by reducing its tax burden or providing exemptions. Key fiscal incentives of BOI registration include:
- Income Tax Holidays (i.e., six (6) years for projects with Pioneer status and for projects located in a Less Developed Area (LDA), four (4) years for new projects with Non-Pioneer status, and three (3) years for expansion or modernization projects);
- Duty exemption on imported capital equipment, spare parts, and accessories;
- Exemption from wharfage dues and export tax, duty, impost, and fees;
- Tax exemption on breeding stocks and genetic materials;
- Tax credits on imported raw materials;
- Tax and duty-free importation of consigned equipment; and,
- Additional deduction for labor expense.
Non-Fiscal Incentives
Non-fiscal incentives do not directly affect your taxes or finances, but they offer other forms of support to make doing business easier. Key non-fiscal incentives of BOI registration include:
- Employment of foreign nationals;
- Simplification of customs procedures for imported products;
- Importation of consigned equipment; and
- Privilege to operate a bonded manufacturing or trading warehouse (subject to custom rules and regulations).
What are the eligibility criteria for BOI Registration?
Businesses must meet specific ownership, activity, and legal requirements to qualify for BOI registration.
What documents are needed for BOI Registration?
Required documents include business registration certificates, financial statements, a project report, Board Resolution, and the BOI Application Form 501.
What is the BOI Registration process?
Submit the application, pay fees, undergo evaluation, and submit pre-registration documents to receive the BOI Certificate of Registration.
How long does BOI Registration take?
BOI Registration takes 10 to 20 working days, with automatic approval if not acted on within 20 days.
What challenges may arise during BOI Registration?
Challenges include not meeting criteria, misunderstanding IPP activities, and objections from affected sectors, requiring a Notice of Publication or hearings.
