For entrepreneurs in Cebu seeking to expand, attract investors, or enjoy tax incentives, registering with the Board of Investments (BOI) is one of the smartest business moves you can make.
As a lawyer would emphasize, the BOI registration process is not just about paperwork—it’s about unlocking privileges under Philippine law that can significantly reduce your business costs and accelerate growth.
If you’re planning to register your business with the BOI in Cebu, here’s a comprehensive, step-by-step guide to help you through the legal process.
1. Understand What BOI Registration Means
The Board of Investments (BOI) operates under the Department of Trade and Industry (DTI) and administers the Omnibus Investments Code of the Philippines (Executive Order No. 226).
Businesses registered under the BOI enjoy several government incentives, including:
Income tax holidays (up to 6 years)
Duty-free importation of capital equipment
Simplified customs procedures
Employment of foreign nationals in technical positions
Full foreign ownership, for enterprises engaged in pioneer industries
📌 Legal Insight: BOI registration is ideal for businesses engaged in activities listed under the Investment Priorities Plan (IPP)—which includes manufacturing, export activities, information technology, renewable energy, and infrastructure.
2. Determine Eligibility
Before applying, ensure your business qualifies under the current Investment Priorities Plan (IPP).
You may be eligible if:
Your business engages in a pioneer activity, or
You export at least 70% of your production, or
You are involved in projects promoting countryside development (like in Cebu or other regional areas).
A consultation with a business lawyer or BOI-accredited consultant is highly recommended to confirm eligibility before filing.
3. Prepare the Required Documents
Here’s a list of standard requirements for BOI registration:
Letter of Intent (LOI) addressed to the BOI Managing Head
Project Study or Feasibility Report
Company Profile and Business Plan
DTI or SEC Registration and Articles of Incorporation/Partnership
BIR Registration Certificate
Audited Financial Statements (if existing business)
Proof of Location or Lease Contract in Cebu
List of Equipment to be imported or utilized
📌 Lawyer’s Note: Ensure all documents are duly notarized, accurate, and consistent across agencies (DTI, SEC, and BIR). Inconsistencies can delay your application.
4. File Your Application with the BOI Cebu Office
You can submit your application through the BOI Cebu Extension Office, located at the DTI Regional Office.
Once filed, the BOI will conduct a pre-evaluation of your documents to verify eligibility and completeness.
Afterward, you’ll be asked to pay the filing and registration fees, which depend on your project cost and capitalization.
5. Attend the BOI Evaluation and Clarification Meeting
The BOI will schedule a meeting to clarify details of your project—such as target markets, production process, and investment timeline.
Be prepared to answer questions regarding your business operations and compliance with environmental, labor, and local regulations.
📌 Legal Reminder: Transparency during evaluation is crucial. Misrepresentation of facts may lead to disqualification or cancellation of registration under Rule 13 of the BOI Rules and Regulations.
6. Wait for the BOI Board Approval
Once your application passes evaluation, the BOI will issue a Certificate of Registration (COR) and an Application for Tax Incentives Registration (ATIR) under the CREATE Act (Republic Act No. 11534).
This certification formally recognizes your business as a BOI-registered enterprise and grants your company entitlement to tax incentives and other privileges.
7. Comply with Post-Registration Requirements
After receiving approval, your business must comply with BOI post-registration obligations, including:
Submitting annual reports and audited financial statements
Maintaining separate books of accounts for BOI-registered projects
Filing periodic performance reports
Continuing compliance with BIR and LGU regulations
Failure to comply may result in suspension or cancellation of incentives.
Why Cebu Businesses Should Consider BOI Registration
Cebu’s booming economy makes it a prime location for both local and foreign investors. With BOI registration, your business gains:
✅ Legal protection and credibility
✅ Significant tax and duty exemptions
✅ Easier access to financing and investors
✅ Support from the Philippine government for expansion
Final Thoughts
Registering your business with the BOI in Cebu is more than a compliance step—it’s a strategic move to gain legal, fiscal, and competitive advantages.
By following these steps carefully—and with guidance from legal or business professionals—you ensure a smooth process that aligns your Cebu-based enterprise with national investment priorities.
If you’re ready to expand your business and maximize government incentives, BOI registration is your gateway to long-term success.
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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