METRO MANILA, Philippines — Korp, a company registration and corporate compliance firm backed by its own entity management platform, has joined the French Chamber of Commerce and Industry in the Philippines (CCIFP) as a member and trusted partner. Through the partnership, CCIFP members gain access to Korp’s solution for company incorporation, government registration and ongoing corporate compliance. Members also receive a PHP 5,000 discount on their first invoice.
The partnership addresses a recurring challenge for French SMEs entering the Philippine market. Setting up a local entity, and keeping it in good standing, involves several government agencies, foreign ownership rules and continuing obligations. Korp’s specialists prepare the filings and deal with each agency, from SEC incorporation through BIR, business permit and employer registration to the recurring compliance work that follows. Its platform keeps every step visible in one online account, so clients always know where their company stands. Korp can also introduce members to its partners: banking, accounting and tax, visas, etc.
Key considerations for French companies
Korp has identified five considerations that apply to most foreign incorporations. Addressing them at the outset helps companies avoid restructuring later.
- Foreign ownership. A company can be up to 100% foreign-owned, unless its activity is on the Foreign Investment Negative List, and subject to the capital requirements below.
- Capital. A foreign-owned company selling in the Philippines needs US$200,000 in paid-in capital, or US$100,000 if it qualifies for a reduction. An export company, earning 60% or more of its revenue abroad, needs none.
- Board composition. The President must be a director. The Treasurer must be a Philippine resident. The Corporate Secretary must be a Filipino citizen residing in the Philippines, a role most French-owned companies need to fill externally.
- Execution from abroad. Incorporation can now be fully digital. Signatories sign through the SEC’s eSECURE solution, with no wet signatures or notarization required. Documents executed abroad, such as the parent company’s board resolution, must be apostilled.
- Post-incorporation requirements. After the SEC certificate, the company registers with the BIR, obtains its city business permit, registers as an employer with SSS, PhilHealth and Pag-IBIG, and opens a bank account.
Korp’s support for CCIFP members
- Incorporation and registration: Korp’s specialists prepare and file the SEC incorporation for Filipino, mixed and foreign ownership structures, followed by BIR, business permit and employer registration.
- Ongoing compliance: a resident Filipino Corporate Secretary who files the annual General Information Sheet, keeps the corporate records and tracks the company’s corporate deadlines.
- Entity management platform: one account to manage the company: every request and its status, the corporate documents and records, ownership details, and a compliance calendar of upcoming filings, with Korp ASK, an AI assistant, to answer questions along the way.
The Korp platform: starting an SEC incorporation request at app.korp.ph
Your address with the Chamber, your filings with Korp
The partnership complements CCIFP’s existing domiciliation services. Member companies can keep their registered address, and a desk where needed, with the Chamber, while Korp manages their registration and Corporate Secretary requirements. One partner for the address, one for the filings, both within the Chamber’s network.
“French entrepreneurs arrive in the Philippines with clear ambitions, and too often lose valuable time to the requirements of setting up a local entity,” said Ninoy Salmon, Chief Executive Officer of Korp. “Our partnership with CCIFP lets us help member companies put the right structure in place from the outset and remain compliant as they grow.”
Exclusive offer for CCIFP members
CCIFP members receive a PHP 5,000 discount on their first Korp invoice when they register through app.korp.ph/r/CCIFP.
About Korp
Korp makes business registration in the Philippines simple. It registers companies with the SEC, the BIR and local government, and keeps them compliant afterward through its Corporate Secretary and compliance services, with each client’s company managed in one account on its entity management platform. Korp is led by CEO Ninoy Salmon. For more information, visit korp.ph.