Why Invest in Bohol, Philippines?

Why Invest in Bohol, Philippines?

About the Province

Bohol is an island situated between latitude 9°30′ and 10°15′ North and Longitude 123°40′ and 124°30′ East. With a land territory of 4117.3 square kilometers, Bohol is the tenth biggest island of the Philippines and lies amidst the Visayas. Bohol is situated in the focal bit of the Visayas lying between Cebu toward the northwest and Leyte toward the upper east. The area is around 700 kilometers south of Manila and 70 kilometers southeast of Mactan Island. Bohol is encompassed by different islands on all sides and is in this way protected from the tropical storms that regularly happen in the area, and in addition to the heaviest downpours.

Bohol resembles a jade clasp set on a velvet-blue ocean. Its fruitful land has slopes that roll delicately around rich woods and verdant knolls. Marine life – from schools of modest reef fish to greater cases of dolphins and whales – overflow in the encompassing waters. The territory is the ideal field for scuba plunging, kayaking, trekking and gives in the investigation. For the less courageous, it offers comfortable interests like cruising, swimming, swimming or, basically, gathering seashells by the seashore.

Getting There

Via Sea: From Manila, the transportation line 2Go orchestrates once seven days voyages to Bohol’s Tagbilaran City. Planned voyages leave from the Eva Macapagal Super Terminal at Pier 15, Manila South Harbor. The voyage takes around 28 hours to finish. Travelers land from Tagbilaran City Wharf, inside Bohol’s capital city.

Via Air: Tagbilaran Airport (IATA: TAG) serves both local and universal flights into the island of Bohol. The air terminal is situated in the island’s capital close to the western drift. Achieving Panglao from the air terminal takes under 30 minutes’ movement via auto.

 

 

  • Accessible Area 

Bohol is situated in the focal piece of the Philippines, which makes it just simple to access from both the capital city of Manila and the territorial metropole Cebu and therefore to potential markets. With a movement time of under two hours by quick watercraft and around twenty minutes via plane, Bohol is anything but difficult to achieve both via air and ocean from close-by Cebu, which today is the modern and business focus of the Southern Philippines. Positively, Bohol is an elective that gives you the correct business atmosphere, in addition to a solid domain that gives a calming safe house to a bustling way of life.

 

  • The atmosphere in Bohol is exceptionally charming and warm.

From November to April, the upper east rainstorm (amihan) wins. Aside from an uncommon shower, this is the mildest time. Daytime temperatures normal at 28°C, chilling off during the evening to around 25°C. The mid-year season from May to July brings higher temperatures and exceptionally damp days. From August to October is the southwest rainstorm (habagat). The climate amid this season isn’t extremely unsurprising, with long stretches of quiet climate substituting with blustery days. It can rain any day of the year, however, a higher shot of substantial showers happens from November to January.

 

  • Traveling around Bohol is quite an easy experience even for non-seasoned visitors.

It is simple and helpful to movement via arriving when somebody is in Bohol on the grounds that there are different methods for arriving transport in the province. These extend from transports, jeepneys, taxis, multicabs, tricycles and habal-habal motorbikes. The most normal methods of land transport when you are in Tagbilaran City zone are the tricycles, multicabs, and taxis. Metered cabs can be found close to shopping centers, lodgings, ship terminals and airplane terminal. Phone quantities of taxi organizations are recorded in the nearby phone catalog so one can simply call if at any point taxi administrations are required.

 

  • Boholanos can easily understand and willing to help others.

Bohol’s essential resource is its kin, with the unmistakable quality attributes of cordiality, devotion to work, industry, and confidence. It has an exceedingly trainable and solid work power of around 686,000 and education rate is 95.57%, which makes up a dynamic labor pool. The majority of the Boholanos can talk the local vernacular which is particularly Boholano. Cebuano, Tagalog, and English are additionally talked and comprehended.

 

  • Bohol is picking up esteem as a prime eco-social traveler goal in the area.

Bohol has a plenitude of immaculate white sand shorelines and purplish blue waters. Coral reefs abound with an assortment of pleasant marine life. Most remarkable of these locales and expanding in world fame are those found in Pamilacan, Balicasag, and Cabilao islands, now getting to be asylums for the vacationer and scuba jumpers.

 

Chocolate Hills – Carmen, Bohol, Philippines

Inland, filling in as magnets for the neighborhood and remote sightseers, are sights that are similarly momentous. These are Bohol’s common and social miracles. A portion of these destinations earned an overall premium, for example, the 1,268 flawlessly coned haycock slopes, all the more prominently known as the Chocolate Hills, slouched together with heights of 40-120 meters high. There are the Baclayon Church, the best-saved Jesuit-fabricated church in the locale; and the withdrawn Philippine Tarsier, the world’s littlest primate endemic just to Bohol and an ensured animal types.

Bit by bit coming to fruition is the 2,000-hectare Panglao Island Tourism Estate (PITE) simply off Tagbilaran City. Pronounced as a leader venture of the administration, the PITE is one of the five traveler satellite goals in the nation where interests in lodging/resort buildings, tradition offices, sports/recreational offices, greens, malls, retirement and crafted works town and marina are being advanced.

 

  • Bohol has a great potential in the business.

Bohol is among the areas in Central Visayas that unmistakably bars an immense potential in the business. In the course of recent years, Bohol invited remote and neighborhood occupants, in that way demonstrates the not too bad living and developing economy. As Bohol contends together with its neighboring areas around Central Visayas, it additionally extends regarding populace, openings, traveler goals and lodging speculations. Be that as it may, besides its rich contributions, Bohol is unquestionably fortunate to appreciate a colossal degree of land. Henceforth the reasons why you have to put resources into Bohol.

 

  • The province’s employment profile shows that it is mostly agriculture-led.

Cadapdapan Rice Terraces – Candijay, Bohol, Philippines

Add up to region dedicated to rural utilize is 184,874 hectares or around 45% of the aggregate land region of the area. Normal homestead estimate in Bohol is around 0.60 hectares. Fishing is the second principle wellspring of pay and elective wellspring of the vocation of Boholanos. With 30 beachfront regions, around 33% of Bohol populace is specifically respondent on angling. The fish havens deliberately situated around Bohol has added to high fishery yield. Prawns are straightforwardly sent out to Japan. Lobster, ocean growth and milkfish are moreover gathered. Bohol’s domesticated animals and poultry industry is additionally a noteworthy benefactor in the general advance and improvement of the locale’s aggregate creation.

 

  • Bohol has plenty of natural resources.

Bohol is rich in minerals such as limestone and other non-metallic minerals like high-review silica, guano, and mud.

Also, vines and strands constitute Bohol’s vegetation, which is wellsprings of indigenous crude materials for its craftsmanship industry.

Bohol’s central and northern lowlands have fertile grounds and abundant water supply. A plentiful supply of surface water in Bohol for domestic, agricultural and industrial uses can be tapped from 2,224 springs, 59 rivers, and 200 creeks. Surface water from 22 river basins and watersheds are impounded and distributed as potable water, for irrigation, power generation, and industrial use. The 7 major river basins considered as potential sources of water supplies are Loboc River, Abatan River, Wahig-Inabanga River, Carood River, Manaba River, Alijawan River, and Ipil River.

 

  • It is more secure to live in Bohol.

The Provincial Government has propelled a few projects to help control and lessen the wrongdoing rate in the territory. It was proclaimed insurrection free by the AFP and PNP in 2010 and has stayed to be so. Speedy reaction through T.A.R.S.I.E.R. 117 Telephone and Radio System Integrated Emergency Response 117, or TaRSIER 117 was made through EO 7-An and propelled on Mar. 25, 2011 and was presented the Gawad Bayanihan Award by the Armed Forces of the Philippines around the same time. It is a piece of the Provincial Disaster Risk Reduction Management Council, which is led by the Provincial Governor that arrangements with worries on open administration and support of peace and request, including the quick arrangement of help and help to casualties of characteristic or man-made cataclysms. TaRSIER 117 respondents work round-the-clock, handing-off crisis worries to relating organizations. Genuine reactions incorporate police, fire and therapeutic dispatch. The TaRSIER 117 Philippine Army Affiliated Reserve Unit (PAARU) Signal Company was granted as the best in the whole Philippines by the AFP in 2014.

It was organized under the Philippine National Police in 2008 to do its peacekeeping job, imagined to build up Bohol as a really prime eco-social traveler goal in the nation. Traveler cops are conveyed in 12 districts with 14 stations around the region of Anda, Carmen, Corella, Cortes, Danao, Loay, Loboc, Loon, Panglao, Sagbayan, Tagbilaran City, and Tubigon. The traveler police conduct versatile and foot watches for wrongdoing discouragement sets up normal checkpoints at vacationer swarmed zones, kept an eye on by no less than 8 officers, and gives insight gives an account of outsiders without clear business enthusiasm for a zone and reaches those people.

 

Everyone stresses over what’s to come. We stress on the off chance that we will have enough cash set aside, we stress if what we purchase now will even be worth anything when retirement at long last (and who knows when it will be) comes around. We stress. Furthermore, that is alright.

It is never too soon to begin considering your future and on the off chance that you are especially worried about what could occur as the years pass by, it is insightful to put resources into something, regardless of whether it be organizations, reserve funds, or yourself, before you discover things are getting excessively entangled and the greater part of life’s responsibilities get in the ay. On the off chance that you are agonizing over your future, why you ought not to put resources into Bohol.

BUSINESS-ENABLING ENVIRONMENT

The Bohol Investment Promotion Center houses the one-stop shop business name registration service facility that caters to the needs of investors, entrepreneurs and aspiring business people. The single location facility provides a streamlined and simplified registration service, facilitation and information assistance on related compulsory social coverage registration.

The Negosyo Center – Bohol was launched in September 2015 to promote ease of doing business and to facilitate access to services for micro- small- and medium enterprises (MSMEs). The Go Negosyo Act, or R.A. 10644, that establishes the Negosyo Center, seeks to strengthen the MSME sector to create more job opportunities in the country. Services include business registration, business information and advocacy, and business advisory
services.


Available business registration services:


Department of Trade and Industry (DTI)

• Business Name Registration
• Assessment of Application
• Forms, Requirements & Information Assistance
• Issuance of Business Name Certificate
• Securities and Exchange Commission (SEC)
• Information Assistance
• Corporation
• Name Reservation
• Pre-processing of Application
• Forms & Requirements
• Liaising with Application Processing

Pag-ibig Fund

• Information Assistance
• Assessment of Application
• Forms & Requirements
• Online Registration
• Facilitation in the Issuance of Business Clearance

Philippine Health Insurance Corporation (PhilHealth)

• Information Assistance
• Assessment of Requirements for Employee/Employer Registration
• Facilitation in the Issuance of Philhealth Employment Number

Social Security System (SSS)

• Information Assistance
• Assessment of Forms
• R3 File Assistance for Employee Contributions

A. PRIORITY INVESTMENT AREAS

a) Conformity to the green growth strategies of development and consistent with the priorities of the Philippine Risk Reduction and Management Act of 2010 or Republic Act 10121;
b) Boholano-inspired design and architecture of buildings and facilities consistent with Boholano culture and heritage;
c) Integration of facilities compliant with the Disability Access Law, Gender and Development Code of Bohol Province, and similar laws; and,
d) Observance of corporate social responsibility principles.

Investment Opportunities in Bohol :

B. PRE-QUALIFICATION REQUIREMENTS
All enterprises intending to avail of the incentives as provided for in this Code must be able to meet the following requirements:

a) All requirements mandated under existing local and national laws, and under the Philippine Constitution, including business registration requirements, accreditation requirements, as the case may be;
b) The prospective investor’s place of operation or production shall be located within the province;
c) The prospective investment shall engage in any of the areas or activities cited in the priority investment areas, or, as may hereafter be declared by the Board;
d) The new enterprise shall have a capitalization of at least Ten Million Pesos (P10M) for a small enterprise, Fifteen Million Pesos (P15M) but not more than One Hundred Million Pesos (P100M) for a medium-scale enterprise, and more than One Hundred Million Pesos (P100M) for a large-scale enterprise or business project; provided that the amount of capitalization shall be based on the total project cost as stated in the investor’s project study submitted to an approved by the Board;
e) The new enterprise shall employ qualified bonafide residents of the province equivalent to at least 60% of its total labor/manpower requirements;
f) The expansion or diversification shall have an additional project cost in the scale as provided in this Code, provided that the amount of capitalization shall be based on the total additional project cost and such expansion or diversification as stated in the investor’s project study submitted to and approved by the Board;
g) Foreign companies intending to apply for registration shall comply with the Foreign Investments Act of 1991;
h) The project must not be included in the negative list as provided for under the Foreign Investments Act (R.A. 7042); and,
i) The project shall not negatively impact the environment, whether in terms of pollution or resource use.

C. REGISTRATION OF ENTERPRISE
Registration Requirements

I. A non-refundable filing fee shall be paid to the Provincial Treasurer’s Office, which shall issue an Official Receipt to be submitted together with the application documents. The filing fee shall be based on the amount of capitalization of the business or enterprise, under the following scale:

a) P10,000.00 for Small-scale enterprise;
b) P20,000.00 for Medium-scale enterprise; and,
c) P50,000.00 for Large-scale enterprise.

II. Documentary Requirements.
Three (3) copies of the following shall be submitted to the BIPC.

a) Single Proprietorship
• Copy of completed application form for registration under the Bohol Investment Code;
• Copy of Business Name Registration issued by the Department of Trade and Industry (DTI);
• Mayor’s permit and barangay clearance;
• Copy of Audited Financial Statements (if existing);
• Environmental Compliance Certificate (ECC) or Non-Compliance Certificate (NCC), if applicable;
• Project profile or brief;
• Project study indicating the financial viability, socio-economic and environmental impact of the project; and,
• Other documentary requirements as may be indicated in the application guidelines.
b) For Partnership/Corporation
• Copy of completed application form for registration under the Bohol Investment Code;
• Copy of the Articles of Partnership or Incorporation;
• Certified true copy of its Certificate of Registration issued by the Securities and Exchange Commission (SEC), for Corporation/ Partnership;
• Resolution of the applicant’sBoardofDirectors, in case of a corporation authorizing the filing of the application;
• Copy of Audited Financial Statements (if existing);
• Environmental Compliance Certificate (ECC) or Non-Compliance Certificate (NCC), if applicable;
• Project profile or brief;
• Project feasibility study/report and supporting documents indicating environmental and social acceptability, among others, including compliance with existing environmental laws, ordinances and guidelines; and,
• Other documentary requirements as may be indicated in the application guidelines.
c) For Cooperatives
• Copy of completed application form for registration under the Bohol Investment Code;
• Copy of the Articles of Cooperation and By-Laws approved by the Cooperative Development Authority (CDA);
• Certified true copy of the Certificate of Registration issued by the Cooperative Development Authority (CDA;
• Authority from the Board of Directors to file the application;
• Mayor’s Permit and Barangay Clearance;
• Project study of the proposed investment indicating the financial viability and the socio-economic and environmental impact of the project; and,
• Other documentary requirements as may be indicated in the application guidelines.
d) For projects located in the municipalities of Panglao and Dauis – The Panglao Island Tourism Development Review Committee is mandated to assess/review development plans and projects in these municipalities. As such, all projects located in these municipalities shall be required to submit a resolution of endorsement from the said committee to ascertain its compliance with the provisions of the Panglao Island Tourism Development Guidelines.

 

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