How a PEZA Accreditation can Boost Your Business

Dozens of entrepreneurs, investors, and companies opt for outsourcing jobs to save costs. To increase investments in the Philippines, the government agency Philippine Economic Zone Authority (PEZA) is the answer to your entrepreneurial needs. PEZA offers a long list of benefits and incentives for foreign entities in the country.

Financial perks

A PEZA accreditation bestows a generous set of fiscal incentives.

It offers income tax holiday for a number of years translating to 100% exemption from corporate income tax. It also has tax and duty-free importation for capital equipment, raw materials, and machineries. VAT zero-rating for local purchases is even covered, although subject to compliance with the Bureau of Internal Revenue (BIR) and PEZA requirements. Last but not least, you’re entitled to exemption from wharfage dues, expanded withholding tax, and government payments including any and all imports, fees, licenses, and taxes.

Non-fiscal incentives

Additionally, PEZA has a delicious catalogue of non-fiscal incentives.

The agency offers employment for foreign nationals in supervisory, technical, and advisory roles, even extending visa facilitation assistance to their spouses and unmarried children under 21 years old. What’s better is PEZA provides special visa with multiple entry privileges for non-resident foreign nationals such as investors and company officers so business operations are really managed and monitored to a tee.

There is also a simplified, electronic, and automated import-export procedure to hasten the process. Ready-to-occupy business locations in optimal cities are made available for use, as well.

Vast locations

There are 300+ fully operating economic zones under the jurisdiction of PEZA, spread out across thousands of Philippine islands that you can freely facilitate business operations in.

For one, you can operate in cities under Metro Manila like Makati and Quezon, locations with great economic capacity and credentials. Cebu is another zone, renowned for its Lechon praised by celebrity chef Anthony Bourdain plus dozens of beaches to swim in and mountains to trek.

Davao is another viable location as the primary trade and commerce hub in Mindanao. Subic is also a good area for entrepreneurial advances, being a famous dive site full of mysterious shipwrecks and fascinating corals.

As of 2016 there are over 3,100 businesses and 6,400 separate offices within PEZA zones. Getting a PEZA accreditation is essentially a smart choice. But there’s a catch – you need tons and tons of documents to work out.

In order to qualify, you have to submit a notarized application form, a comprehensive corporate profile, project description and timetable, service process and flowchart, certificate of registration with the Securities and Exchange Commission (SEC), projected volume of sales, sources of financing, newest audited financial statements, and many, many more.

For assistance with PEZA processing, consult the kings of the sea, Sea King Customs Brokerage and Logistics. Sea King is home to an experienced team of professionals authorized to transact with government agencies and private entities for import and export facilitation. Sea King ensures your business complies with PEZA requirements and is accredited right on schedule so you can start operations as soon as possible.