Just a quick update to my last article on how to Start a Business in the Philippines. (there’s more about Philippine Business For Foreigners — You Can, You Can Not here)
Start a Business in the Philippines — Freeports
- 1 Start a Business in the Philippines — Freeports
- 1.1 Start a Business in the Philippines — Why Are Freeports Different?
I mentioned, briefly, the two major Freeport initiatives of the Philippine Government … the Subic Bay Freeport Zone and the Clark Freeport Zone.
These are great examples of how a country made good use out of large military bases that the US left behind.
Start a Business in the Philippines — Why Are Freeports Different?
These facilities are 100% owned by the government of the Philippines. They are managed for the government by two agencies, the Subic Bay Metropolitan Authority and the Clark Development Corporation.
These agencies are self-supporting, they make their money by leasing bare and for building business or leasing out existing buildings on their facilities.
A small percentage of profit from established businesses is also collected to defray Freeport costs.
Start a Business in the Philippines — Advantages For Foreigner Businesses
In return, folks who want to establish a business get:
- Low-cost, long-term lease of land and/or buildings.
- Single entity management … one government organization to deal with
- Infrastructure — US built roads, utilities and facilities
- Security — gated environment, US-style security force in place, 24/7
- Emergency services — A professional fire department, police, and ambulances that come if you dial 911.
- Environment — Housing, recreation, schools, recreation for employees, on-site
- Duty-free Import and Export to and from the Freeport
- For larger investors, custom, very flexible business investor visas
Update from an authoritative reader. Thanks so much for keeping us all up todate:
Just thought you might want to know…Clark only has 506 locators…Subic has near 1100
For those folks who gobble up my “Find a Job in the Philippines” type articles … here’s a hint … there, above you, is contact information for hundreds and hundreds of foreigner-owned or foreigner-oriented Philippine businesses. Hint, hint, hint …
The Freeport Zones may not be ideal for every business idea, but they sure will work for some … and I urge people toying with the idea of a business in the Philippines ought to start thinking bigger and more successful, rather than tiny and “praying to make a buck”.
What are you thoughts on how to Start a Business in the Philippines?