Basic Incorporation for Land Ownership
- Name Verification with the Securities and Exchange Commission
- Drafting of Articles of Incorporation and By-Laws
- Preparation of Treasurer’s Affidavit
- Processing of Bank Certificate (if required)
- Drafting of Pre-Incorporation Agreement, Subscription Agreement for Shareholders
- Preparation of Loan Agreement between Filipino and foreigner for the purchase of stocks, Pledge Agreement as security for the loan, Special Power of Attorney authorizing foreigner to sell the stocks, undated resignation letter, open deed of absolute sale
Total Payment Amount:
- Twenty-Five Thousand Philippine Pesos (PhP 25,000.00) Professional Fee; and
- Five Thousand Philippine Pesos (PhP 5,000.00) Deposit fee, to be liquidated and: (a) refunded if there is any excess; or (b) billed, if insufficient.
Payment due dates:
1st downpayment (Twenty-Two Thousand Five Hundred Philippine Pesos (PhP 22,500.00)): representing 70% of the Professional Fee (PhP 17,500.00) and the Full Deposit Fee (PhP 5,000.00);
Remaining balance: To be paid upon completion of project and determined after liquidation of deposit fee.
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