Financial management is crucial to company success. As a business owner, it is important for you to stay on top of the financial health of your business so you can properly allocate your funds and anticipate any financial risks before they can have significant effects on your company’s growth.
Registration of foreign/non-resident investments with the Bangko Sentral ng Pilipinas (BSP or Central Bank of the Philippines) is not mandatory. However, it is required when foreign exchange (FX) used to fund repatriation of the capital or remittance of dividends/profits is purchased from the Philippine banking system.
Last March 27, 2013, the Republic of the Philippines received its first Investment Grade Status from the rating agency, Fitch Group. From a previous ranking of BB+, the status of the Philippines has been upgraded to BBB-.
Because of the last economic downturn, many companies continue to seek an outsourcing company that will meet their requirements, flexibility and cost effective. The choices have expanded to consist of many procedures that have not previously been off-site, including staffing offshore.
Offshore staffing appears as hiring someone locally, except that the service provider will bring off the selection procedure, setting up, and the particular procedures on behalf of a typical company customer.