Cebu functions as the IT-BPM, shared services, and maritime hub of the Visayas. Corporate setups in locations like Cebu IT Park, Cebu Business Park, or the Mactan Economic Zone (MEZ) often combine SEC registration with ecozone accreditation.
The Role of PEZA and the CREATE MORE Act
To maximize cost efficiency, tech and export-oriented firms register with the Philippine Economic Zone Authority (PEZA). Under the updated CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises Maximize Opportunities for Reinvigorating the Economy) framework:
Income Tax Holiday (ITH): 4 to 7 years depending on location and priority sector.
Special Corporate Income Tax (SCIT): 5% rate on gross income earned, or enhanced deductions.
Duty-Free Importation: Zero-rated VAT and custom duty exemptions on capital equipment and raw materials.
Local Government Integration: Cebu City eBPLS
Once SEC registration and PEZA provisional approvals are secured, corporate entities finalize their Mayor’s Permit via Cebu City’s Electronic Business Permit and Licensing System (eBPLS).
Steps for BPO and Tech Locators in Cebu
SEC Incorporation: Reserve company name and complete filing on SEC ZERO.
PEZA Registration: Submit project applications to PEZA for locator status within an accredited Cebu IT park/center.
Cebu City Mayor’s Permit: File for local business tax assessment and health/sanitary permits online via eBPLS.
BIR Revenue District Office (RDO) 80/83: Register books of accounts and authority to print invoices.
Navigating the business landscape in the Philippines can be both rewarding and intricate. Whether you’re embarking on a new venture or scaling up, ensuring that your corporate endeavors are in line with local regulations is paramount.
At CBOS Business Solutions Inc., we pride ourselves on simplifying these processes for our clients. As a seasoned professional services company, we offer comprehensive assistance with SEC Registration, Visa processing, and a myriad of other essential business requirements. Our team of experts is dedicated to ensuring that your business is compliant, well-established, and ready to thrive in the Philippine market.
Why venture into the complexities of business registration and compliance alone? Allow our team to guide you every step of the way. After all, your success is our commitment.
Get in touch today and let us be your partner in achieving your business goals in the Philippines.
Email Address: gerald.bernardo@cbos.com.ph
Mobile No.: +639270032851
You can also click this link to schedule a meeting.
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