Phone No.: | 687-6649 |
Email: | nusison2@scp-ph.com |
Address: | 2005B 20th Fl. Tektite Building P.S.E. Centre Exchange Road Ortigas, Pasig City |
When starting business in the Philippines it is advisable that you create a corporation. However, what is a corporation and why it is preferable to have one in doing business in the country is often the big question. Thus, I am giving here corporation basics and its advantages.
Section 2 of the Corporation Code defines corporation as an artificial being created by operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incident to its existence.
Creating corporation in conducting business in the Philippines is preferable because corporation has the following characteristics, it:
Section 2 of the Corporation Code defines corporation as an artificial being created by operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incident to its existence.
Separate juridical personality - Corporation has separate personality from its shareholders. They cannot be made liable for obligations incurred by the corporation. Thus, doing business in the Philippines by creating a corporation is way better.