Some Tips on Small business and Company Registration in the

Some Tips on Small business and Company Registration in the Philippines

The Philippines has a lot to offer businesses. The amount of firms doing business in the philippines is continuously on the increase. Some of the most popular sorts of business include things like call centers and business process outsourcing (BPO), and smaller sized businesses including cafes and eatery chains. You cannot simply go to the Philippines and launch an enterprise, however. You need to know about how company or business registration operates before starting.

Why Work in the Philippines?


There are lots of reasons the Philippines is attractive for company owners. The foremost is decreased expenses. Beginning an enterprise in the Philippines can trim your expenses by about 50%, which is certainly great for fresh business owners and businesses.

The second reason is the Philippine work force. Lots of Filipinos have a college degree, with about 350,000 university students graduating annually. With the number of qualified and talented people in the Philippines, you will not have a problem selecting likely staff or partners.

The local government's support for foreign organizations is the third reason it's wonderful to operate in the Philippines. The government has many laws, campaigns, and incentives that make it a lot easier for people from other countries to invest in local organizations.

How Do You Register a Business in the Philippines?

The government body you should register your small business with varies based on the type of entity your enterprise is. Partnerships or corporations must register with the Securities and Exchange Commission (SEC), while sole proprietorships should register with the Department of Trade and Industry (DTI). Whether you need to register with SEC or DTI, the essential procedure for Philippine business registration is the same.

1. Come up with no less than 3 organization names to help you have choices in case your initial choices are unavailable or improper. Ensure the names describe the type of business you have, and that it does not seem too much like an existing business name. You can go to the DTI web site to look for registered organization names. 2. Register your business name. This can be accomplished by going to DTI or SEC and accomplishing the correct forms. You can also complete your dti Philippines business registration on the internet. For business registrations with SEC, ensure you're sending in the appropriate forms and required documents for the kind of company you have. Prerequisites vary for stock corporations, non-stock corporations, and partnerships. 3. Obtain local permits. Submit the proper documents to the mayor's office in the area where your enterprise is positioned. Examples include your registration certificate from DTI or SEC, and business contract or lease. 4. Head to the Bureau of Internal Revenue (BIR) for tax registration. Fill in the correct forms and provide copies of the necessary records (registration certificate, articles of incorporation if you're registering a corporation, and so on). While you're at the BIR, you may wish to register your book of accounts and request for authorization to execute certain business functions, such as using a cash register and providing receipts. 5. Get an employer registration number with the Social Security System (SSS). Sole proprietorships must fill out and send in forms R-1 and R-1A, while partnerships or corporations must send in forms R-1 and R-1a.

When you continue to have difficulties registering your business in the Philippines, you could ask a local organization attorney at law for assistance.

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