BOI Registration

The Board of Investments (BOI) is a government agency that will help both foreign and local investors save a lot of money by giving tax incentives, import duties exemption and other benefits through investing in activities listed in the annual Investment Priority Plan (IPP).

Foreign-owned firms or firms which foreign shares exceed 40% of outstanding capital stock can apply for BOI Registration either as:

• Pioneer  - classified in the Investment Priority Plan (IPP); or
• Export-oriented firm – at least 70% of actual production is for export

A Filipino enterprise or enterprise with at most 40% foreign ownership, can apply for BOI Registration if:

• The project is listed in the current Investment Priority Plan (IPP); or
• At least 50% of actual production is for export

Fiscal Incentives

1. Income Tax exemption – Pioneer Status (6 years), Non-pioneer status (4 years), Expansion Projects (3 years) and Modernization Projects (3 years)
2. Exemption from taxes and duties on imported spare parts – for enterprise with bonded manufacturing warehouse
3. Exemption from wharfage dues and export tax, duty, impost and fees – 10 year period from registration date
4. Reduction of the Rates of Duty on Capital Equipment

Non-fiscal Incentives

1. Employment of Foreign Nationals on supervisory, technical or advisory positions
2. Simplifications of customs procedures
3. Importation of consigned equipment – for 10-year period

Documentary Requirements

1. SEC Certificate (Articles of Incorporation and By-Laws)
2. Audited Financial Statement and Income Tax Return (if applicable)
3. Board Resolution to authorize Company Representative
4. Accomplished Application Form 501 and Project Report

Procedure

1. File BOI Form 501 with supporting documents and filing fee
2. Evaluation of Application and Preparation of Evaluation Report
3. Presentation to the BOI Management Committee
4. BOI Governing Board Confirmation
5. Letter advice to Applicant of Board Action
6. If Approved, send letter of approval including pre-registration requirements
7. Applicant complies with the pre-registration requirements
8. Preparation and issuance of Certificate of Registration upon payment by applicant of Registration Fee
9. Release of Certificate of Registration.

BOI Registration Processing Time – 10 to 20 working days

You may contact me to do these for you.

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