Why Set Up Your Business in Philippines?
Are you planning to set up a business in Philippines?
If yes, you might want to know the opportunities and benefits you will get with this decision.
Philippines, located in the South East Asia comprise of 7000 islands. The country has been a centre for outsourcing for a number of jobs. There are plenty of entrepreneurs who chose Philippines for outsourcing. Why? Because Philippines has the largest number of people who can speak English fluently as compared to other destinations for outsourcing. But, what about setting up a business in the country entirely?
Setting up a business in Philippines can be really beneficial for a number of reasons. Let’s take a look at them below.
1. Unique team building and hiring opportunities
Although there is an explosion of outsourcing in the country, yet there are still a number of smart, talented and highly educated young individuals who are jobless. The university system of the country is pumping new talent in the job market every year. These young individuals who are looking for a good opportunity can be a great resource for your business.
2. You don’t have to worry about your Visa
Unlike other countries in the region, Philippines offer a very friendly visa policy. You don’t have to get it renewed again and again. If you miss the date of renewal, it is not going to be a big problem in Philippines. You can renew your visa as per your convenience, of course, with the payment of a late fee that too is very economical. It is a luxury not to worry about the situation of your visa and you can completely concentrate on setting up your business.
3. Lower Costs
Philippines is a great location for setting up your business if you are looking for a low cost option. The property and life style can come in ay really affordable prices. If you are looking to set up a physical office in Philippines, you can get a place conveniently at an affordable rate, of course after some paper work.
4. You can be a Pioneer
Since there aren’t many people and companies who have set up physical offices in the country, there are many opportunities for new businesses in Philippines. You can be a pioneer in many areas and this will help you in getting to a good position in no time. Philippines can be an ideal place to set up businesses because you will get good and educated people to work with and the best part is, they speak good English.
Although there are many benefits of setting up a business in Philippines, there are some drawbacks of it as well. You will notice that the people in Philippines are not used to seeing a lot of westerners. You will get odd stares. Also, it is not a country where you will get to see flocking of the internet types and digital nomads. Therefore, be careful about the kind of business you are planning to set up here. There also are some legal requirements that need to be met before setting up your business which you should know about. Other than that, Philippines can be a great place to set up your business.
These are enough reasons for you to consider setting up business in Philippines. For further information and guidance regarding the procedures, send an email to [email protected] or visit SAS Smart Account Solution’s Website.