subject: How To Register A Small Business In The Philippines [print this page] Enrolling your company is important to stay clear of legal issues. If you have an accredited business, you can even secure your brand. Not one business may use exactly the same name brand. Additionally, competition can check on you to determine any problems. Unless you have necessary authorizations and licenses, the government can shut your company down. You can effortlessly deal with your enterprise if it is legal. Several of important things to remember concerning signing up a small business in the Philippines involve business brand, kind of company, application paperwork and registration to diverse agencies.
Type of Business
Depending on the kind of business, you have to consider various agencies. For sole proprietorship, you should register your small business in the Philippines at the Department of Trade and Industries. For joint venture and company, you need to sign up at the Securities and Exchange Commission. The government needs all companies to join well before they operate.
Company Name
Choose a name. To ensure your Philippine business registration runs as efficiently as possible, consider 3 optional brands. Pay attention to the next suggestions for business brands in the Philippines:
- Words such as root words of the business are considered
- Your label must indicate the nature of business
- Your name must only include numbers and/or characters
- Your company name can include punctuation according to both Filipino and English language
You should be watchful concerning selecting your business name. There are various situations impacting the denial of a company name. Examples include:
- Name shouldn't include questionable, outlawed, controversial components such as those opposing to the nature of business
- Name must not include close similarity to earlier listed companies under the authorities
- Name must not solely include common words
- Names versus certain government rules or regulation
- Specific business names marketing any kind of service, products or any other items
You are unable to involve abbreviations of any international, inter-governmental group and nation in your name. Your company label shouldn't misrepresent the nature of the business.
Additional Specifications
Philippine business registration needs various methods in line with the nature of your business. Mentioned previously, pay a visit to the DTI for sole proprietorship whilst you fill out an application at SEC for partnerships and firms. Generally, both agencies will require you to fill out business application forms. Some of the information requested in the application form include photo, name, nationality, birth certificate and proof of citizenship or similar status. You also have to settle a processing fee. If your business is a franchise unit, you should provide a copy of the franchise agreement. For partnership, you should satisfy the following Philippine business registration requirements:
- Name verification slip
- Articles of partnership
- Filled out application form
- Affidavit for name change
- Processing fee for capitalization
- Gross receipts after operation
You need to satisfy the following Philippine business registration requirements for corporations (stock):
- Name verification slip
- Articles of bylaws and incorporation
- Affidavit for name change
- Bank certificate
- Affidavit of the treasurer
- Bank account verification
- Business application form
Philippine business registration for a non-stock corporation requires information about board directors. You should satisfy these requirements accordingly to get your business legalized.
