GENERAL POLICIES

1. Application for Registration with BOI

Requirements for Registering with BOI

a. SEC Certificate of Registration – including Articles of Incorporation and By-
Laws for Domestic Corporations, Partnerships, Branch Offices, Representative Offices,
and Regional Headquarters; or DTI Certificate of Registration for Sole Proprietorships
b. Audited Financial Statement (feasibility report that contains projected financial
reports for the next five (5) years) and Income Tax Return (for the past three (3) years
if applicable)
c. Board Resolution of a duly authorized company representative/signatory
d. Accomplished BOI Application Form 501 (has various versions per industry sector)
and Project Report (a report that contains activities listed or are related to those listed
in the IPP)

BOI Registration Process

a. File BOI Application Form 501 along with supporting documents and filing fee
b. Prepare Evaluation Report (including Publication of Notice of Filing of Application
and plant visit)
c. Present to the BOI Management Committee
d. Receive confirmation and letter advice from the BOI Governing Board regarding
Board Action
e. Letter advice to Applicant of Board Action
f. If approved, send letter of approval and comply with pre-registration requirements
g. Pay Registration Fee
h. Secure Certificate of Registration from BOI

The usual processing time is ten (10) to twenty (20) working days – depending on the
type of business entity you plan to register, the nature of your proposed activities,
and the time it takes for BOI’s Management Committee to review your application.  

2. Approval of application for registration shall be based on the IPP listing, and entitlement
to incentives is subject to Article 7, par. 3 of E.O. No. 229:

Article 7. Powers and Duties of the Board:

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(3) Process and approve applications for registration with the Board,
imposing such terms and conditions as it may deem necessary to promote
the objectives of this Code, including refund of incentives when
appropriate, restricting availment of certain incentives not needed by the
project in the determination of the Board, requiring performance bonds
and other guarantees, and payment of application, registration,
publication and other necessary fees and when warranted may limit the
availment of the tax holiday incentive to the extent that the investor's
country law or treaties with the Philippines allows a credit for taxes paid
in the Philippines;

3. Except as provided under the Constitution and Foreign Investments Act, there are no
restrictions on foreign ownership of export-oriented and/or pioneered enterprise that
will engage in activities listed in the IPP.

4. Unless specified in the Specific Guidelines of the listings in this IPP, status of the project
shall be governed by Article 17 or E.O. No. 226.

5. Geographical Consideration in Industry Development Policy

 a. Regional Dispersal of Industries - dispersal of economic activities in the countryside
is encouraged
b. Locational restriction in NCR - consistent with the objective of (a) and the congestion
in NCR, the BOI shall limit incentives to projects therein.

6. Export commitment may be suspended to satisfy national interest or in an emergency

situation

7. ITH Availment -

a. In the grant of incentive, priority shall be given to projects with substantial benefits
in the economy. Income qualified for ITH shall be limited to the income directly
attributable to the eligible revenue generated from registered project.

8. Multi-phase projects may be registered on a per phase/location basis.

9. BOI-registered entities should endeavor to undertake meaningful and sustainable CSR

projects.

10. BOI-registered entities must be committed to the tenets of Good Corporate Governance

11. New and expansion projects shall be required to secure ECC and other clearances under
relevant environmental laws. A certificate of Non-Coverage shall be submitted for
projects that do not have adverse impact to the environment.

12. BOI-registered entities shall use brand new equipment except for projects utilizing
consigned equipment or those involving transfer of facilities.

13. Production process or services may be outsourced provided the core activity or
integrated nature of operation is undertaken by the registered enterprise.

14. BOI may deny applications for registration and/or grant of incentives for reasons of
national interest, public health, morals, or for environmental considerations.