Under the Revised Corporation Code, a single stockholder may now form a corporation. Said corporation is called a One Person Corporation (“OPC”). The single stockholder in an OPC should be a natural person, trustee or estate. Banks and quasi-banks, preneed, trust, insurance, public and publicly listed companies, and non chartered government owned and controlled corporations may not incorporate as an OPC. A natural person who is licensed to exercise a profession may not organi

The Supreme Court in Kimberly Clark Philippines, Inc. v. Nora Dimayuga et.al.[1] reiterated the ruling in Businessday Information Systems and Services, Inc. v. NLRC (Businessday):[2] With regard to the private respondents claim for the mid-year bonus, it is settled doctrine that the grant of a bonus is a prerogative, not an obligation, of the employer. The matter of giving a bonus over and above the workers lawful salaries and allowances is entirely dependent on the financial

1. What relevant information should be noted in registering with the Board of Investments ("BOI") and the Philippine Economic Zone Authority ("PEZA")? Board of Investments To qualify for registration with the BOI, a company should be organized under Philippine laws as a domestic entity. An enterprise may register its activity if the same is listed in the current IPP. If not listed, the enterprise may also be entitled to BOI incentives for as long as the following conditions a

1. What are the various structural options that I could choose from when setting up a business in the Philippines? You may set up your business under one of the following organizational structures: (1) single proprietorship, (2) partnership, (3) corporation, (4) branch office, (5) representative office, (6) regional headquarters, or (7) regional operating headquarters. 2. Can a foreign investor fully own a business entity? Yes, a one hundred percent (100%) foreign equity may