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Types of Business Registration in the Philippines

In this presentation we are describing about business registration in the Philippines. These should be very beneficial if you are thinking about business in Philippines.

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Types of Business Registration in the Philippines

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  1. Types of Business Registration in the Philippines Know More About Business Registration http://pnjgconsulting.com

  2. Types of Business Registration • Sole Proprietorship • Partnership • Corporation • Branch Office • Representative Office

  3. Sole Proprietorship Requirements: Process: Reserve, secure & register name from DTI Present accomplished forms/docs for processing and evaluation Get certificate from DTI Secure business registration from local government of chosen location of business (i.e. Barangay Certificate, Mayor’s Permit & Licenses) Register business in Bureau of Internal Revenue (BIR) If with employees, register with the following: Social Security System (SSS) Philippine Health Insurance Corporation (Phil Health) Home Development Mutual Fund (HDMF) • Create name of business to be registered in DTI Business Name Registration System (BNRS) • Applicant’s TIN number • Provide copy of identification of citizenship (government issued IDs- Driver’s License, Voter’s ID, Passport, etc.) • Provide signed copy of undertaking from DTI BNRS • Prepare payment for application

  4. Partnership Requirements: Process: Reserve, secure & register name from SEC Submit duly notarized Articles of Partnership Present completed forms and needed documents to SEC Provide necessary requirement if one of the partners is a foreigner Present certification of minimum paid up capital in trust account from local bank Get certificate from SEC Secure business registration from local government of chosen location of business (i.e. Barangay Certificate, Mayor’s Permit & Licenses) Register business in Bureau of Internal Revenue (BIR) If with employees, register with the following: Social Security System (SSS) Philippine Health Insurance Corporation (PhilHealth) Home Development Mutual Fund (HDMF) • create name of business to be registered in SEC • create draft of articles of partnership • SEC form F-105 (for foreigner partners) • prepare payment for application

  5. Corporation Requirements: Process: Reserve, secure & register name from SEC Provide necessary requirement if one of the incorporator is a foreigner Submit completed forms and needed documents to SEC: Cover Sheet Name Verification Slip Articles of Incorporation Treasurer’s Affidavit By- Laws Undertaking to change name Get certificate from SEC Secure business registration from local government of chosen location of business (i.e. Barangay Certificate, Mayor’s Permit & Licenses) Register business in Bureau of Internal Revenue (BIR) If with employees, register with the following: Social Security System (SSS) Philippine Health Insurance Corporation (PhilHealth) Home Development Mutual Fund (HDMF) • create name of business to be registered in SEC • • must have at least 5- 15 shareholders • • create draft of articles of partnership, by- laws • • SEC form F-100 (for corporation with more than 40% ) • • prepare payment for application • • registration of paid-up capital and affidavit from Corporate Treasurer • for Filipino Corporation – at least Php100,000 paid- up capital • for Foreign- Owned – minimum paid-up capital is expected to be higher depending on the type of corporation to be registered

  6. Branch Office Requirements: Process: Reserve, secure & register name from SEC Submit completed forms and needed documents to SEC: Cover Sheet Name Verification Slip Authenticated copy of the Board Resolution Articles of Incorporation & By- Laws Audited Financial Statements (audited by an independent Certified Public Accountant of the home country) Proof of Inward remittance (bank certificate) Resident Agent’s acceptance of appointment (unless agent is the signatory in the application form) Affidavit of Resident Agent Requirements must be authenticated in the Philippine Embassy/Consulate of the parent company’s home country. Get certificate from SEC Secure business registration from local government of chosen location of business (i.e. Barangay Certificate, Mayor’s Permit & Licenses) Register business in Bureau of Internal Revenue (BIR) If with employees, register with the following: Social Security System (SSS) Philippine Health Insurance Corporation (PhilHealth) Home Development Mutual Fund (HDMF) • Create name of business to be registered in SEC • Create draft of articles of partnership & by- laws • Audited financial statements • Board resolution authorizing the creation and establishment of the Representative Office in the Philippines • Minimum paid up capital of USD 200,000.00 (PHP9,000,000.00) • Resident Agent for the representative office (must be filipino resident- applied to any individual legally staying here for more than 185 days/ year). • Certification of inward remittance for minimum paid-up capital to local bank • Prepare payment for application

  7. Representative Office Requirements: Process: Reserve, secure & register name from SEC Submit completed forms and needed documents to SEC: Cover Sheet Name Verification Slip Authenticated copy of the Board Resolution Articles of Incorporation & By- Laws Audited Financial Statements (audited by an independent Certified Public Accountant of the home country) Proof of Inward remittance (bank certificate) Resident Agent’s acceptance of appointment (unless agent is the signatory in the application form) Affidavit of Resident Agent * Requirements must be authenticated in the Philippine Embassy/Consulate of the parent company’s home country. Get certificate from SEC Secure business registration from local government of chosen location of business (i.e. Barangay Certificate, Mayor’s Permit & Licenses) Register business in Bureau of Internal Revenue (BIR) If with employees, register with the following: Social Security System (SSS) Philippine Health Insurance Corporation (PhilHealth) Home Development Mutual Fund (HDMF) • create name of business to be registered in SEC • create draft of articles of partnership & by- laws • audited financial statements • board resolution authorizing the creation and establishment of the Representative Office in the Philippines • minimum paid up capital of USD 30,000.00 (PHP1,350,000.00) • Resident Agent for the representative office (must be filipino resident- applied to any individual legally staying here for more than 185 days/ year). • certification of inward remittance for minimum paid-up capital to local bank • prepare payment for application

  8. Contact for Consulting Philippines OfficeUnit 904 OMM-Citra Bldg.,San Miguel Ave.,Ortigas Center, Pasig CityTel. (02) 470-6160(02) 775-6217www.pnjgconsulting.com Visit Us • Website • Facebook • Twitter • LinkedIn http://pnjgconsulting.com

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