For many businesses, especially those seeking tax incentives, government support, and credibility, registering with the Board of Investments (BOI) is a strategic decision. But while the advantages are clear, the process can be intimidating without proper legal guidance.
This article outlines the step-by-step process of BOI registration in the Philippines—written in plain language, with the precision you would expect from legal counsel.
Step 1: Determine Eligibility
Not every business automatically qualifies for BOI incentives. The BOI gives priority to enterprises engaged in industries identified in the Investment Priorities Plan (IPP) or the Strategic Investment Priority Plan (SIPP), such as:
Export-oriented enterprises (at least 70% of output exported)
Agribusiness and food processing
Renewable energy projects
Manufacturing and infrastructure
IT-BPM and creative industries
Health care, transportation, and logistics
Legal Insight: If you are a foreign investor, check whether your activity falls outside the Foreign Investment Negative List (FINL), or if it qualifies under BOI’s export-oriented rules.
Step 2: Prepare a Project Study or Business Plan
A comprehensive business plan is required for BOI registration. It should include:
Financial feasibility (capitalization, funding, projected revenues)
Technical feasibility (process, equipment, manpower)
Market feasibility (target customers, competition, demand)
Pro Tip: Think of this as your “legal roadmap.” The BOI relies heavily on your project study in evaluating your application.
Step 3: File the Application with BOI
Submit your application to the BOI One-Stop Action Center together with the required documents, such as:
SEC or DTI registration papers
Articles of Incorporation/Partnership or Certificate of Business Name
Audited financial statements (if existing)
Project study/business plan
Filled-out BOI application forms
Legal Insight: Completeness and accuracy are crucial. Missing documents can cause delays or outright rejection.
Step 4: BOI Evaluation and Clarification
The BOI will carefully review your application. Expect:
Clarificatory meetings to address technical or financial questions
Requests for additional documents or revisions to your project plan
Due diligence checks on your business operations
Lawyer’s Note: Treat this as your “compliance interview.” Answer directly, provide evidence, and anticipate questions before they are asked.
Step 5: Board Approval and Issuance of Certificate
Once your application is favorably evaluated, it will be endorsed for approval. Upon approval:
You will receive a Certificate of Registration (COR)
The COR officially grants you BOI incentives and privileges
Legal Insight: The certificate is not the end—it is the beginning of your compliance obligations.
Step 6: Compliance with Post-Approval Requirements
As a BOI-registered enterprise, you are required to:
Submit regular reports on production, exports, and operations
Maintain separate books of accounts for BOI projects
Ensure continuous compliance with BOI rules to retain incentives
Pro Tip: Treat compliance as an ongoing obligation. Non-compliance can result in suspension or cancellation of incentives.
Final Thoughts
The BOI registration process is not just paperwork—it is a legal journey that requires strategy, precision, and compliance. For businesses that qualify, the rewards are substantial: tax savings, government support, and enhanced credibility.
If you are considering BOI registration, it is best to seek professional guidance early. With proper legal and business advice, you can navigate the process efficiently and maximize the benefits available under Philippine law.
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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