How to register business in the Philippines?
In putting up a business, of course it will be best if you will consider the legalities. For you to run the business smoothly, you have to do the step by step registration. Here are the guidelines on how to be legally registered.
But before that, you have to classify the type of the business you want to start with. Is it Sole Proprietorship? Partnership / Corporation? Or Cooperative? After you finally determine which type does your business belongs, let’s now proceed to the steps on how to register it.
For Sole Proprietorships, you have to register it to the Department of Trade and Industry or (DTI) for your Business Name Registration Certificate.
Where: DTI-Provincial Office where the business is located or log on to www.bnrs.dti.gov.ph or http://www.business.gov.ph/
Take note that the validity of your registration is for five years only.
Here are the requirements needed.
• Presentation of 1 copy of government issued ID
• Accomplished Business Name Registration form (BTRCP FORM 16A) in duplicate
• Registration fee depending on territorial coverage of the business name and documentary stamp:
- Barangay – P 200.00
- Municipal – 500.00
- Regional – 1,000.00
- National – 2,000.00
Documentary Stamp tax of P15.00 per application.
Business Name Registration Application Form
New Application – PBR SPNR Application Form.pdf
Renewal Application – Business Name Application Form (2011-06-13).pdf
Let’s now proceed to Partnership / Corporation. If this is the case, you have to go to Securities and Exchange Commission (SEC) for registration and to have your SEC Registration Certificate.
Where: SEC Building, EDSA, Greenhills Mandaluyong City
Tel. No.: (632) 584.0923
Website: www.sec.gov.ph or http://www.sec.gov.ph/secireg.htm (for online registration)
You have to keep in mind that the validity of your registration is for fifty years. This is ten times longer than Sole Proprietorship.
Things you need to prepare for partnership.
. Name Verification Slip (online or at the name Verification Unit)
. Articles of Partnership
. Written Undertaking to Change Corporate Name by any partner
. Form F-105 for partnership with Foreign Equity
. Proof of Inward Remittance by foreign partners
Requirements for Stock (S) and Non Stock (NS) Corporations:
. Verification Slip Form (S) (NS)
. Articles of Incorporation (S) (NS)
. Treasurer’s Affidavit (S)
. Notarized Bank Certificate of Deposit where the bank is located (S)
. Written Undertaking to Change Corporate Name by any Incorporator or Director (S), by any T rustee (NS)
. Clearance from other government agencies (S)
. Foreign Investment Application Form F-100 (for subsidiaries of foreign corporations (S)
. Proof of Inward Remittance by Non-Resident Aliens/Subscribers (S)
. List of members and amount contributed certified by the Secretary and T treasurer (NS)
. Registration fee of Pup 360.00.
And lastly, for cooperative type of business.
For you to have your certificate of registration, Cooperative Development Authority (CDA) is the right place for you.
Where: 6th Floor, Ben-Lor Building, 1184 Quezon Avenue, Quezon City
Tel. No.: (632) 372.3808 / 373.6895 / 332.0019
Requirements for cooperative.
1. Economic Survey.
2. Articles of Cooperation and By-Laws.
3. Surety bond of accountable officers.
4. Treasurers Affidavit.
5. Approved Cooperative Name Reservation Slip.
6. Certificate of PMES.
If you are about to follow those steps on how to register your business, then you’re good to go and start earning!