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How to Register Your Business in the Philippines

Posted on November 30th, 2008



If you are putting up a business in the Philippines, it is mandatory to register it before you start operating. If it is a sole proprietorship, you have to register with DTI (Department of Trades And Industries). If it is partnership or corporation, register with SEC (Securities and Exchange Commission).

Let me show you how:

I. Business Name

You have to choose your business name carefully to distinguish it from your competitors. Your name must describe the nature of your business. It is your identity in the marketplace.

How do you apply for business name?

A. Choose a business name – Think of at least 3 business names

Guidelines for acceptable business names:

  • The root word or words of the name shall be considered.
  • Describes the nature of business
  • Comprised solely of letters and/or numerals
  • Punctuation that are part of English and Filipino language

Names that are not acceptable:

  • Those which are or whose nature of business is illegal, offensive, scandalous, or contrary to propriety.
  • Those which are identical or which nearly resemble business names already registered with government office authorized to register names.
  • Names composed purely of generic words.
  • Names by which by law or regulation cannot be appropriated.
  • Distinguished or suggestive of quality of any class of goods, articles merchandise or service.
  • Abbreviation of names of any nation, inter-governmental or international organization
  • Names which are misleading, deceptive or which misrepresent the nature of business

B. Search for a business name – You may use DTI Online Search Engine to ensure that your preferred name has no similar or confusingly similar to existing registered names.

C. Register your Business Name – Visit the DTI Office in the area where you will put your business.

  • Fill out application form with your proposed business name signed by yourself, your representative, or authorized by a special power of attorney.
  • Submit 2 identical 2 x 2 id pictures taken not more than a year prior to your application.
  • If your name suggests an alien nationality, present a copy of your birth certificate, voter’s id or passport for proof of citizenship.
  • If you are naturalized citizen, present the original copy of your naturalization certificate and oath of allegiance or ID card issued by Bureau of Immigration and Deportation.
  • If you are a franchise holder, present a photocopy of franchise agreement.
  • Pay the processing fee of P300 and P15 for documentary stamp.

II. Register Online at www.bnrs.dti.gov.ph

1. Fill out application form by typing the required information.
2. Submit online and you will receive transaction reference number acknowledgment via e-mail.
3. Submit the necessary documentation mention in the acknowledgment in DTI office in your area. The reserve business name online is only up to 3 working days.
4. Pay your application. Processing fee of p300 + p15 documentary stamp.

For partnership and corporation register with SEC and submit the following:

Partnership:

  • Name verification slip
  • Articles of partnership
  • Affidavit of undertaking to change name
  • Filled out application form
  • Filing fee depends on your capitalization
  • Or gross receipts after operation
  • Other fees: bylaws fee p 210.00, stock & transfer book 300.00, documentary stamp 100.00


Stock Corporation

  • Name verification slip
  • Articles of incorporation and bylaws
  • Affidavit of undertaking to change name
  • Treasurer’s affidavit
  • Bank certificate
  • Authority to verify bank account
  • Filled out application form

Non-Stock Corporation

  • Name verification slip
  • Articles of incorporation and bylaws
  • Affidavit of undertaking to change name
  • Resolution of the board of directors that the corporation will comply with the requirements of non-stock corporations
  • Members undertaking
  • List of contributors certified by the treasurer
  • Certificate of bank deposit of at least P100,000
  • Representing initial contribution
  • Filled out application sheet

What’s next?

III. Mayor’s Permit

Now that you already have your business name, next thing to do is to secure local permits. For your Mayor’s Permit you will need:

  • Barangay clearance from where your business is located
  • Contract of lease, if any
  • Registration certificate from DTI or SEC
  • Sketch of your location
  • Community tax certificate
  • Fire safety certificate issued by the Bureau of Fire and Protection.

Mayor’s permit cost varies depending on your municipality and type of business.

IV. Tax Registration

After registering your business name and securing mayor’s permit, you have to get Tax Identification Number (TIN) from BIR (Bureau of Internal Revenue).

Documents needed for TIN application:

  • Filled out BIR forms 1901/1903
  • Sketch of your location
  • Photocopy of mayor’s permit
  • Registration certificate for DTI or SEC
  • Articles of incorporation or partnership (not applicable to sole proprietorship)
  • Branch/es must present certificate of registration of the main office
  • Other things to work with BIR:
    • Register book of accounts
    • Request authority to print receipts
    • Request authority to use cash register

Registration fee is P500 + documentary stamp tax 1% of the subscribed capital for corporation.

V. Social Security System

Business owners must secure employer registration number and report all employees for coverage at the Social Security System. Sole proprietors should submit filled out SSS form R-1 for employer registration and SSS Form R-1A for employees listing. While partnership and corporations must submit copies of articles of partnership or articles of incorporation and accomplished form R-1 and R-1a.

Now that you have finally and legitimately registered your business..it is now your chance to get ready for greater and bigger things to embrace.

You are now ready to do business!

Good luck!

If you would like to download a sketched supplement of this article for easy procedures on how to register a business in the Philippines, please download this printable PDF file:


how-to-register-your-business-final.pdf

Credits
PDF Artist: Aina_Marie
Writer: Elexis





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This entry was posted on Sunday, November 30th, 2008 at 3:03 am and is filed under Legal, Start Ups, Taxation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.



23 Responses to “How to Register Your Business in the Philippines”

  1. francis on November 30th, 2008 at 5:29 am

    To All Entrepreneurs/Brokers,

    Eliminate Stress! Focus On Your Business Plans! Leave To Us Your Business Registration, Accounting And Tax Problems!

    We provide business registration services (SEC, DTI, BIR, SSS, PHILHEALTH, PAG-IBIG Registrations and Mayor’s / Business Permit at reasonable rates.

    We also provide all accounting services (bookkeeping, audit, financial statements (FS) and income tax return preparation(ITR), etc.) on a monthly retainer’s fee basis.

    Please contact us at:

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  2. Philippines Business on February 18th, 2009 at 5:40 pm

    This is a very good description of the procedure to register your business in the Philippines. But foreigners should not attempt to register their business without the help of a competent lawyer.

  3. Jamelle The Register Business Philippines on April 15th, 2009 at 8:36 am

    You are planning your own business and you think that registration is a hard process. Then, you need to be well informed of how to register a business. It’s gonna be a lot of hard work but if you are well assisted of the procedures then it’s much easy.

  4. Charina on December 28th, 2009 at 2:48 pm

    Dear Sir/Madam,

    How come that when I get an application form for mayor’s permit for my new junk shop business, it is a requirement first to secure BIR/SSS//Philhealth clearances for the said mayor’s permit which are contradictory to your posted procedures to secure a mayor’s permit?

  5. register business Philippines on April 26th, 2010 at 9:54 am

    a very good procedure to register a business in the philippines, but then what important is if you can do it procedural.

  6. How to Register Your Business in the Philippines « Logger.info on June 21st, 2010 at 6:06 am
  7. May Vergel Niyo on July 20th, 2010 at 8:00 pm

    i’m about to start my business next month.. and yet i do not have any idea how will i start my permits and everything that needs a permit. good thing you have this site. this is very helpful for a newby like me. thanks a lot and God bless..

  8. Dave Philippines Incorporation on September 12th, 2010 at 3:24 pm

    Every municipality works slightly differently when applying for business permits. In my experience it is easier to obtain permits in Makati than in Mandaluyong.

    Even the BIR has different procedures in different municipalities depending on their agreements with the BIR>

  9. Business Consulting Philippines on October 17th, 2010 at 8:44 am

    Most municipalities offer similar registration requirements. Some fees differ slightly but you’ll find the bulk of the documents are the same nationwide.

  10. Pieter on January 1st, 2011 at 3:11 pm

    Dear sir/Me,

    i am a South African citizen and married to a Pinoy girl.
    I am looking to buy property in the Philippines. I have a registered business CC (called a Closed Corporation) in South Africa, and also a registered Family Trust. The CC is usually used for small business enterprises.

    Is it possible to register the property/ies on either of these SA registered business entities, or do I have to register a Company/Business in the Philippines.

    Also what is the legal/law requirements for me as a non Pinoy citizen. (with my Pinoy wife involved)

    I will be applying for permanent residency in the Philippines soon.

  11. Lette on June 29th, 2011 at 10:49 am

    hi! We have 2 companies right now. Our first company was registered by me alone and it’s really costly (time, effort and money). For our second company, we hired an accounting firm for the registration and it really help us save not just on money but also on effort and time. Here are their contact nos: 553-8772; 553-9747; 519-0954. Hope this would help. Good luck on your business!

  12. Lemuel on September 10th, 2012 at 9:36 am

    Sir/Maam,

    Tanong ko lang po, I’m a student, but I’m planning to create my own Street wear and Clothing Line brand, in short young entrepreneur. But I found it too confusing in terms of if I’m going to register to BIR or what? Yes, kailangan ng DTI so that I can really own my brand name. Pero sa BIR hindi ko po sure, kasi wala pa naman akong shop, dahil own laptop ko lang ang gamit ko and outsourcing ang ginagawa ko dahil mga friends ko ang manufacturers. So how about that?

    Thanks.

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