Doing Business in Taguig

Taguig plays a significant role in Metro Manila’s economic development. As of recent years, the city has experienced rapid economic growth, primarily driven by the establishment of Bonifacio Global City (BGC) as a key financial and business hub. The city has become a magnet for multinational corporations, particularly in sectors like finance, information technology, real estate, and retail. With its modern infrastructure, excellent transport links, and highly skilled workforce, Taguig is poised for continued economic expansion.

Business Process Outsourcing (BPO): BGC and other parts of Taguig City are home to numerous BPO companies, ranging from call centers to IT services, back-office operations, and shared services. The city has earned a reputation as one of the Philippines’ BPO hubs, attracting companies from around the world.

Finance and Banking: Taguig houses the headquarters of major banks, insurance companies, and financial institutions. BGC, in particular, is known for its concentration of financial service providers, making it a crucial part of the Philippines’ financial landscape.

Real Estate and Property Development: Taguig has experienced a real estate boom, particularly in the BGC area. The development of high-rise office buildings, commercial spaces, and luxury residences has attracted both local and international investors.

Setting up a business in Taguig City requires registration with the Securities and Exchange Commission (SEC), obtaining a Taxpayer Identification Number (TIN) from the Bureau of Internal Revenue (BIR), and acquiring a Business Permit from the Taguig City Government. Depending on the business type, companies may also need to secure licenses and permits from the Department of Trade and Industry (DTI) and Philippine Economic Zone Authority (PEZA) for businesses in economic zones. The registration process is relatively straightforward and can typically be completed in a few weeks. Learn more about our Company Registration services.

Businesses in Taguig must comply with several corporate regulations to operate legally and efficiently. First and foremost, they must ensure tax compliance by regularly filing tax returns with the Bureau of Internal Revenue (BIR). Employers must also adhere to the Labor Code of the Philippines, ensuring that their employees are treated fairly in terms of wages, benefits, and working conditions. This includes mandatory contributions to the Social Security System (SSS), PhilHealth, and Pag-IBIG Fund for all workers. In addition, businesses must follow environmental regulations set by the Department of Environment and Natural Resources (DENR), particularly regarding waste management, pollution control, and sustainability practices. Compliance with these legal requirements is essential for businesses to avoid penalties and ensure smooth operations. Furthermore, companies must submit annual reports and financial statements in line with the Philippine Financial Reporting Standards (PFRS) to maintain transparency and credibility in the marketplace. Explore our Accouting and Tax services for comprehensive support.

Philippines’ taxation system includes several key taxes for businesses:

Taguig City offers various incentives for businesses through programs provided by both the local government and national agencies. The Philippine Economic Zone Authority (PEZA) offers tax holidays, import duty exemptions, and other incentives to businesses setting up in designated economic zones, including parts of Taguig. The local government also provides support in terms of business permits, tax breaks for startups, and initiatives to encourage foreign investment. The infrastructure development, including roads and transportation, continues to be a priority. Our Business Visa services can assist you in leveraging these opportunities.

Intellectual Property: To protect innovations, businesses must register intellectual property rights with the Intellectual Property Office of the Philippines (IPOPHL). This includes patents, trademarks, and copyrights. Ask for our Trademark Registration services to ensure your assets are secure.

Labor Laws: Philippines labor laws are comprehensive, covering Employment Contracts, working hours, minimum wages, and employee benefits. Employers must comply with the Labor Code and ensure the protection of employees’ rights, including payment of wages, health benefits, and social security contributions.

Environmental Regulations: Taguig follows stringent environmental regulations to promote sustainability. Companies must comply with waste management, energy efficiency, and environmental impact regulations as enforced by the DENR. We offer Business Contracts and Compliance Services to help you meet these standards.

Taguig’s strategic position in Metro Manila makes it a pivotal hub for business and commerce. Key infrastructure includes:

Taguig has a highly skilled and educated workforce, with many professionals employed in industries like finance, BPO, real estate, and technology. The city is home to several universities and vocational institutions, including The University of the Philippines: Bonifacio Global City (UP BGC) and Enderun Colleges. With a rapidly growing population, the city is experiencing an increase in demand for both residential and commercial properties. The expansion of retail and e-commerce sectors reflects the increasing purchasing power and growing middle class in the area.

The demand for office and commercial spaces in Taguig is driven by the growing number of multinational corporations, tech companies, and BPO firms that have established their presence in BGC. Office rental rates in BGC are among the highest in the country due to its prime location and modern infrastructure. Retail spaces in BGC and other parts of Taguig are also highly sought after, with numerous shopping centers, restaurants, and entertainment establishments catering to both local and international consumers. Explore our Property Management services to secure your investment.

Taguig is a prime location for property investment, particularly in the BGC area. High-end residential developments, office buildings, and mixed-use projects dominate the real estate landscape. Taguig City continues to experience growth in property values, particularly in BGC, which is attracting both local and foreign investors. Foreigners can purchase condominium units but must ensure that these properties comply with the 40% foreign ownership limit. Learn more about our Property Acquisition Services.

1. Kumu: Kumu, a social streaming app, was founded in 2018 in Taguig by Roland Ros and Rexy Dorado. The app allows users to stream live, interact with others, and monetize their content. Kumu quickly gained traction in the Philippines, reaching over 10 million downloads in just a few years. In 2020, the company raised over $100 million in funding and is now considered one of Southeast Asia’s leading social media platforms. Kumu’s success story highlights how a locally founded startup can scale rapidly and gain international attention in the competitive world of social networking. This is a prime example of how tech-driven solutions can create a global impact from a local base, inspiring entrepreneurs in Taguig and beyond.

2. Sprout Solutions: Sprout Solutions, a HR tech company founded in 2016 in Taguig by Alex and Pau Bicol, specializes in offering cloud-based human resources solutions for businesses. With its innovative software tools for payroll, timekeeping, and employee management, Sprout Solutions has grown into one of the Philippines’ leading HR technology providers. The company serves over 500 clients, including major corporations like Ayala Corporation and Globe Telecom, and has raised over $6 million in funding to expand its services. Sprout is a great example of how local entrepreneurs can tap into digital trends to disrupt traditional industries and build businesses that scale rapidly, creating significant value for clients and stakeholders.

3. Bikroy: Bikroy, an online classifieds platform founded in 2015 in Taguig, was created by a group of entrepreneurs led by Shyam M. The platform allows users to buy and sell products such as electronics, vehicles, real estate, and services, providing a trusted space for transactions. In just a few years, Bikroy became one of the top online marketplaces in the Philippines, offering a user-friendly interface and a reliable platform for buyers and sellers. By 2022, Bikroy had more than 1 million active users and had expanded into new regions. The company raised substantial funding to enhance its services and expand its operations, positioning it as a key player in the e-commerce space. This is an inspiring example of how local platforms can meet consumer needs while scaling quickly to become major players in the market.

Economic Forecast and Development Projects: Taguig is expected to continue its economic expansion with ongoing developments in infrastructure, real estate, and business parks. The Metro Manila Subway and Bonifacio Global City-Ortigas Link Bridge will improve connectivity and ease traffic congestion. Additionally, BGC is set to continue its growth as a central hub for business, lifestyle, and entertainment, attracting both local and international investors.

Challenges and Opportunities: While Taguig has experienced rapid growth, challenges such as traffic congestion and affordable housing may arise. However, these challenges present opportunities for businesses in sectors like transportation, infrastructure, and sustainable development. The city is also likely to continue seeing growth in sectors like tech, finance, and real estate as the business environment becomes increasingly favorable for investment. Contact us to start your business journey in Taguig today.