Setting Up a Company

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
The Corporation is a joint-stock company. No minimum. 25% must be subscribed. 25% must be released at the incorporation.	Minimum 5 shareholders, maximum 15. A Majority of shareholders have to be Philippine residents. No maximum after the constitution. Liability is limited to the amount contributed.
A Closed Corporation is a closed joint-stock company No minimum. 25% must be subscribed. 25% must be released at the constitution.	Maximum 20 Liability is limited to the amount contributed.
Sole Partnership is a single-member company No minimum capital.	Only 1 person Liability is unlimited.
General Partnership No minimum capital.	Minimum 2 partners Liability is unlimited.
Limited Partnership No minimum capital.	Minimum 2 partners Liability is limited to the amount contributed.

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Philippines.
Philippine Contractors Accreditation Board (PCAB)

Working Conditions

Legal Weekly Duration: 8 hours/day, 40 or 48 hours/week.
Retirement Age: 60
Working Contracts: Employment contracts are regulated by legal clauses and to a lesser degree by collective agreements and individual negotiations.
The terms of employment contracts are extremely rigid.

Minimum Wage: Varies depending on the region and the position occupied, between P200 (USD4) and P350 (USD7) a day.
Average Wage: The minimum wage is determined at the regional level by the Regional Tripartite Wages and Productivity Board.
Social contributions: Social Security Contributions Paid By Employers: 5.6 %. Maximum 1 060 PHP/month. For further details, see here.
Social Security Contributions Paid By Employees: 3.76 %. Maximum 500 PHP/month. For further details, see here.

Social Dialogue and Involvement of Social Partners: The two main groups of trade unions are TUCP and FFW. They are affiliated to the international Confederation of Free Trade Unions (ICFTU ) and to the Worldwide Confederation of Labour ( WCL).
Unions: Federation of Free Workers.
Kilusang Mayo Uno
Unionization Rate: 5% of workers are unionized.
Labor Regulation Bodies: Bureau of Labor and Employment Statistics (BLES)
Department of Labor and Employment

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