Permits for Starting a Business in the Philippines
Posted on June 28th, 2009
Permits are necessary before the operation of a business. Here are the lists of the following government agencies necessary for starting a business.
Department of Trade and Industry (DTI) -- A single proprietorship should be registered under this agency which will issue a COR or certification of registration of the business name.
Securities and Exchange Commission (SEC) -- Just like the DTI it will issue COR. But this is for a business which is a partnership or a corporation
Cooperative Development Authority (CDA) -- This is the right agency where a cooperative business should be registered.
Barangay Hall- a permit is acquired from this for clearance in the operation of your business. Clearance should be obtained from the Barangay that has the jurisdiction over the location of the business to be established.
Local Government Unit (LGU) -- after the Barangay clearance, the business should be registered in the municipality or city for issuance of permits.
Bureau of Internal Revenue (BIR) – this agency will provide tax identification number (TIN) for the business’ taxpayer. This is also where books of accounts and authority to print are registered.
Social Security System (SSS) – this agency is necessary for the benefit of you, your business and your employee. Each of the three will be issued their own SSS number. Your business will be registered as the employer, you as self- employed, and your workers as employees.
Department of Labor and Employment (DOLE) – this will be needed if you have five workers or more. This is necessary for the protection of workers, promotion of their welfare, maintenance of industrial peace, development of human resources and promotion of productive employment opportunities.
Home Development Mutual Fund (HDMF) – this manages the Pag-Ibig Fund. It is required for all SSS members earning a minimum of P4, 000 a month under Republic Act 7742.
Philippine Health Insurance Corp. (PhilHealth) – this agency manages and run the health care system of the government. According to the amendment by RA 9241 to the New National Health Insurance Act (RA 7875), all employers of government and private sectors and their employees are required to register with this agency.
Are these resources for all types of businesses? We are loking for resources specific to the insurance industry – i.e. starting an insurance agency in the Phillilines.
Hello, I just want to know how much is the cost in renewing a business permit.
ty and more power
The information is very helpful since I’m contemplating to put up a business, Thanks!
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