Supporting founders from over 50+ countries. We navigate strict Bangko Sentral ng Pilipinas (BSP) regulations, prepare your corporate dossier, and connect your enterprise with leading commercial banks and licensed digital business platforms.
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Opening a corporate bank account in the Philippines requires navigating rigorous anti-money laundering (AML) checks, foreign ownership restrictions under the Foreign Investments Act, and stringent know-your-customer (KYC) mandates established by the Bangko Sentral ng Pilipinas (BSP). As an experienced corporate service provider, we act as your liaison and operational guide throughout the process.
We assemble and audit your complete legal file—including SEC Certificate of Incorporation, Articles of Incorporation, By-Laws, General Information Sheet (GIS), and Bureau of Internal Revenue (BIR) registration documents—ensuring zero gaps before bank presentation.
We prepare standard bank-compliant Secretary's Certificates and Board Resolutions authorizing account opening and designating official corporate signatories, avoiding back-and-forth rejections.
We pre-assess your operational model, shareholder nationality, and transaction corridors against specific risk appetites of local universal banks and electronic money issuers (EMIs).
Where allowed by the institution, we submit and oversee the application directly on your behalf. Where personal director verification or biometric onboarding is mandated by BSP rules, we schedule, brief, and guide you through the appointment.
Institutions like BDO Unibank, BPI, Metrobank, and UnionBank hold the bulk of corporate assets in the country. They offer robust multi-currency accounts (PHP and FCDU US Dollar accounts), merchant acquiring, trade financing, and letter of credit capabilities. However, traditional banks enforce stringent physical presence expectations, rigorous identity verification for non-resident directors, and strict initial deposit minimums. Onboarding typically requires physical submission of notarized or apostilled documents and an in-branch appearance by authorized signatories, although UnionBank has established leading digital integrations.
For tech-enabled startups, e-commerce brands, and cross-border consulting companies, digital providers and licensed EMIs (such as Maya Business, international providers like Wise Business, or regional platforms operating within the Philippines) provide agile liquidity management. These services facilitate rapid local collections via QR Ph, InstaPay, and global payment rails without the exhaustive bureaucratic delays of legacy branch networks.
Final account approval and required physical presence depend entirely on the financial institution's internal risk assessment and BSP AML/CFT guidelines. We do not guarantee approval.
| Provider | Non Resident Accepted | Remote Onboarding | Local Requirements | Typical Timeline |
|---|---|---|---|---|
| BDO Unibank (Universal Bank) | Yes (subject to enhanced KYC and foreign equity clearance) | No (in-branch signatory verification required) | SEC registration, local registered address, local TIN for company & foreign signatories | 4–8 weeks |
| Bank of the Philippine Islands - BPI (Universal Bank) | Yes (needs provider confirmation based on business activity) | No (personal appearance required at designated commercial branch) | SEC Certificate, Articles/By-Laws, BIR 2303, Mayor's Permit, verified local office | 3–6 weeks |
| UnionBank of the Philippines (Universal Bank) | Yes (frequently works with foreign tech and BPO founders) | Hybrid (digital file submission; branch visit or secure interview required for primary signer) | SEC registration, valid Philippine business address, TIN, Board Resolution | 2–4 weeks |
| Metrobank (Universal Bank) | Case-by-case (requires compliance committee review for non-resident UBOs) | No (physical branch appearance mandatory) | SEC registration, local commercial lease contract, BIR registration, valid passports/ACR I-Card | 4–7 weeks |
| Maya Business / Digital Enterprise (BSP Licensed EMI / Digital Bank) | Needs provider confirmation (non-resident directors usually require local representative) | Yes (app-based digital verification for Philippine entities) | SEC-registered domestic entity or DTI registration, local TIN, Philippine phone number | 1–2 weeks |
| Wise Business (International Multi-Currency Provider) | Yes (supports non-resident directors operating foreign or localized entities) | Yes (100% remote digital identity verification) | Accepts international and PH entities; local PHP receiving accounts require specific verification | 3–7 business days |
SEC-registered Domestic Corporations, One Person Corporations (OPCs), and foreign branch offices requiring fully compliant corporate bank accounts.
International entrepreneurs and non-resident directors expanding BPO, software, hospitality, or import/export businesses into the Philippines.
Founders who have already registered an entity in the Philippines or are concurrently initiating [Link to Company Formation] services.
Foreign-owned enterprises that need expert assistance navigating BIR 2303 requirements, Alien Certificate of Registration (ACR I-Card) rules, and BSP documentation.
Companies requiring multi-currency capabilities (PHP/USD) for cross-border payroll, contractor payments, and client billing.
Individuals seeking personal savings or consumer checking accounts.
Businesses without legal entity registration (or without plans to incorporate via an SEC filing).
Entities operating in high-risk, unregulated, or illicit sectors such as unlicensed offshore gaming (POGOs/IGLs), shell setups with hidden beneficial ownership, or unregulated FX trading.
Founders looking for guaranteed, unverified zero-KYC account approval without proper document legalization (apostilles) or compliance vetting.
A business bank account in the Philippines cannot be opened without a legally incorporated business structure registered with the Securities and Exchange Commission (SEC) or the Department of Trade and Industry (DTI), followed by the Bureau of Internal Revenue (BIR). If you have not yet formed your Philippine entity, our corporate specialists manage the entire registration lifecycle. From drafting Articles of Incorporation and securing Treasurer-in-Trust (TITF) corporate bank accounts to providing official business addresses and navigating foreign equity minimums, we handle your setup end-to-end. We also provide professional local administrative assistance where necessary, including our corporate formation and governance services and corporate secretarial solutions to ensure your entity remains fully compliant with Philippine law. Explore our turnkey setup: our corporate formation and governance services.
We analyze your company type (OPC, Domestic Corporation, Branch Office), shareholding breakdown, non-resident directorship status, and intended transaction velocity to match your business with the most suitable commercial bank or digital platform.
Our compliance team reviews your SEC documents, By-Laws, GIS, BIR Certificate of Registration (Form 2303), and valid IDs. For foreign directors, we advise on apostille procedures, Tax Identification Number (TIN) issuance, and bank-specific Secretary's Certificates.
We submit your application dossier directly to our commercial banking partners where authorized. We liaise directly with institutional compliance desks, promptly resolving source-of-wealth inquiries and AML clarifications.
Once compliance sign-off is completed, we facilitate the deposit of your initial maintaining balance, coordinate any required in-person signature validation or secure digital sign-off, and assist you in securing business internet banking credentials.
Foreign entrepreneurs from across the globe regularly form enterprises in the Philippines to access a skilled English-speaking workforce, software outsourcing hubs, and dynamic domestic retail markets. However, the Bangko Sentral ng Pilipinas enforces strict Know-Your-Customer mandates regarding foreign beneficial owners and non-resident corporate officers. While non-residents are legally permitted to own shares and hold director seats in Philippine corporations (subject to the Foreign Investment Negative List and nationality quotas where applicable), commercial banks will strictly scrutinize foreign signatories. A foreign director's country of residence is assessed independently from the company's place of incorporation. To successfully secure banking facilities as a non-resident, your business must demonstrate substantial economic ties, provide clear source-of-wealth records, obtain a Philippine Tax Identification Number (TIN) for all foreign directors, and often appoint a resident joint-signatory or schedule an official in-country verification. Our service directly manages these complexities, guiding you on acceptable alternative documentation, apostille conventions, and optimal bank routing.
Supporting founders from over 50+ countries. We help founders worldwide navigate the requirements of Philippine banking, regardless of where their management team is based.
United States, Canada
United Kingdom, Germany, Netherlands, Switzerland
Singapore, Australia, Japan, Hong Kong
United Arab Emirates, Saudi Arabia, Qatar
Everything you need to know about opening a corporate business bank account in Philippines.
