Permits and Licenses · BSP licenses
Bangko Sentral ng Pilipinas Licenses and Registrations
Financial service businesses in the Philippines may need approval from the Bangko Sentral ng Pilipinas (BSP), the country’s central bank. We find the right route and prepare the application.
Overview
Which financial activities the central bank supervises
The Bangko Sentral ng Pilipinas (BSP) is the country’s central bank and supervises banks along with a range of other financial businesses. Banks need a license. Others, such as electronic money issuers, remittance and transfer companies, money changers, pawnshops, payment system operators and virtual asset service providers, must register or obtain authority before they operate. Which route applies depends on the activity you carry out, not on what the company is called.
Many founders assume that registering a company with the Securities and Exchange Commission is enough to start a financial service. It is not. Central bank approval comes first, and it typically looks at capital, ownership, the background of directors and officers, and internal controls such as anti-money laundering policies. Lending, financing and insurance businesses answer to other regulators. We confirm the right regulator, build the application and handle follow-up.
What we handle
Financial licensing support
We prepare the full application and keep it consistent with your company papers.
Regulatory mapping
We confirm whether your activity falls under the central bank, the Securities and Exchange Commission or the Insurance Commission.
Application preparation
Business plans, financial projections, ownership charts and corporate documents are assembled to the requirements for your activity.
Owner and officer files
Background and qualification documents for owners, directors and officers are prepared consistently and checked for gaps.
Policies and manuals
We prepare or review anti-money laundering, risk and consumer protection policies suited to the activity applied for.
How it works
How a BSP application is prepared
We work in four stages and confirm the requirement list for your specific activity first.
Regulatory scoping
We define your activity and customers, confirm the regulator and decide whether you need a license, registration or another form of authority.
Structure and documents
Ownership, capital and governance are reviewed, then the documents and policies are prepared and checked against each other.
Filing and queries
The application is filed and we handle follow-up questions and requests for additional information from the regulator.
After approval
We guide you on conditions, reporting duties and renewals that come with the authority granted.
Why prepare BSP applications with ILA
Right regulator, first time
Confirming who supervises your activity early avoids filing with the wrong office.
Consistent paperwork
Corporate, ownership and policy documents are aligned, which reduces comments from reviewers.
Plain explanations
We explain capital, ownership and reporting expectations in language a first-time owner can follow.
Frequently asked questions
Financial licensing questions
Does a lending company need a BSP license?
Lending and financing companies are generally registered and supervised by the Securities and Exchange Commission, not the central bank. Some business models cross lines, for example if they handle payments or deposits. We look at how you actually earn and move money before advising.
Can foreigners own a financial services business?
Foreign ownership rules differ by type of institution. Banks are covered by their own laws on foreign entry, and other activities carry ownership or capital conditions. We review the structure you have in mind and tell you where the limits sit.
Can we start operating while the application is pending?
No. A regulated financial activity should not be offered to customers until the required authority is in place. Operating without it can lead to penalties for the company and its owners. We plan your launch date around the approval, not ahead of it.
Planning a financial services business?
Book a free consultation and we will confirm which regulator and license apply to you.
