FAQs: Registration Transfer from PEZA to BOI

The transfer of registration of IT-BPM companies in the Philippines which are enjoying fiscal incentives from the government is one of the most important industry issues as of late.

Work-from-home and hybrid work have become popular setups in the IT-BPM sector in the country since the pandemic forced millions of jobs to shift to remote work. Rules by PEZA, where around 1,200 IT-BPM companies are currently registered and therefore enjoying fiscal incentives, require 100% onsite work. This rule is waived temporarily, adjusted to allow a ratio of 70% onsite and 30% remote work until the end of the year.

To resolve the issue, the Fiscal Incentives Review Board has come up with Resolution No. 026-22 on September 14, providing a smooth transfer of registration for companies who wish to continue with full or partial remote work from PEZA to the Board of Investments, another investment promotion agency, which allow such a setup.

During a webinar on November 8 hosted by the British Chamber of Commerce Philippines, PEZA’s Atty Ross Vincent Sy, group manager for enterprise regulations and support services, said PEZA-registered businesses will need to file an application for transfer until December 16 of this year.

Requirements

Three essential requirements are needed to apply for the transfer:

  • A request form to register with BOI (this form may be downloaded from PEZA’s website under “Downloads”)
  • Copy of PEZA certificate of registration (COR)
  • Copy of registration and supplemental agreements

Step-by-step process

  • The requirements should be submitted to itbpm.transfer@peza.gov.ph, where PEZA will verify the information before endorsing to BOI.
  • After the applicant company pays an applicable fee to BOI, BOI will issue a BOI Certificate of Registration.
  • The applicant must furnish PEZA with its BOI Certificate of Registration for annotation in the PEZA Certificate of Registration. PEZA’s Office of the Board Secretary will be handling the annotation.

Still under PEZA rules

Despite the transfer, Sy emphasized that the registered business will still be subject to PEZA’s rules and regulations specifically on compliance and fiscal incentives. This also means that businesses whose registrations have transferred to BOI are still required to maintain an office inside PEZA-registered IT centers or buildings, although PEZA will not impose a minimum requirement for the size.

Furthermore, PEZA will still provide PEZA visa, automated importation, issuance of building permits, and other non-fiscal incentives.

Businesses that have not applied will be required to return to a 100% onsite work by January 2023.

Find media contacts, and get access to news releases and announcements.

About Santos Knight Frank

The world of real estate can be a difficult place to navigate. Whether property is your investment or a tool that drives your business success, you need a partner who can guide you in every step of the way.

Since 1994, Santos Knight Frank has been guiding Fortune 1000 companies, BPOs, private clients, and institutions in all facets of real estate. We advise companies on their best office, retail, and industrial location, oversee commercial fit-out projects, and manage facilities. We have facilitated over 4 million sqm of office transactions on behalf of clients and managed over 40 million sqm of real estate under our property & facilities management arm.

Our residential brokerage platform and wide collection of bespoke homes allow our private clients to buy, lease, and sell properties within their budget, timeline, and lifestyle.

For landlords and investors, we provide valuations and appraisal, consultancy and research, sales and leasing, and property management services across the Philippines.

Santos Knight Frank is part of the global Knight Frank network of over 384 offices in 51 markets, including the strategically important U.S. partnerships with Cresa (commercial real estate) and Douglas Elliman (residential real estate).

We are locally expert and globally connected, end-to-end and best-in-class – as any great partner in property should be.