Sign up for a FREE PAYPAL ACCOUNT and start accepting credit card payments from all parts of the World and in the Philippines instantly.
Global Filipino Entrepreneurs
*
Welcome, Guest. Please login or register. April 17, 2014, 07:58:56 PM


Login with username, password and session length





Paypal Philippines

Google
Owen Tripp
Pages: [1]   Go Down
  Print  
Author Topic: Register Business In the Philippines  (Read 3241 times)
0 Members and 1 Guest are viewing this topic.
calipinoy
PinoyBusiness.ORG Advocate
Global Philantropist
*

USER FEEDBACK RATING = 128
Offline Offline

Posts: I am a geek!!


WWW
« on: April 10, 2008, 06:43:41 PM »

Here are the procedures
http://articles.pinoybusiness.org/2008/03/09/how-to-register-your-business-in-the-philippines/
http://articles.pinoybusiness.org/2008/03/09/how-to-register-a-business-in-the-philippines/


Business Name Registration

What are the requirements/procedures in the registration of the business name?

For Sole Proprietorship:

Submit completely filled up New Application Form. The forms are available at the Information Counter of the Business Registration Center, DTI Main Building, 361 Gil Puyat Ave., Makati City. Only the owner of the business is authorized to sign all the forms.

   1. The applicant must be a Filipino Citizen, at least 18 years old
   2. Proof of Citizenship:
         1. Natural born Filipinos whose names are suggestive of an alien nationality (e.g. Chua,Taylor,etc.), submit photocopy of any proof of citizenship, such as, birth certificate, voter's ID, PRC ID or passport and present original copies for comparison.
         2. If owner is a Filipina married to a foreigner, submit photocopy of any proof of citizenship, such as, birth certificate, voter's ID, PRC ID or passport plus photocopy of the marriage certificate. Present original copies for comparison.

            For Citizen of the Philippines by:

         3. Naturalization-submit photocopy of naturalization certificate and oath of allegiance or identification card issued by the Bureau on Immigration and Deportation. Present original copies for comparison.
         4. Election- submit photocopy of affidavit of election or identification card issued by the Commission on Elections. Present original copies for comparison.
   3. Verify nature of business. (Listed below are examples of nature of business, which have additional requirements on a case to case basis depending on actual examination and processing of the application.)

      Examples:
          * Photocopy of license from DTI for Real Estate business. (Present original copy for comparison)
          * Photocopy of license from DTI for Fire Extinguisher business. (Present original copy for comparison)
          * Accreditation from DTI for Service and Repair Shop.
          * Merchandise/Ship Broker license from DTI if business travel agency with ticketing as nature of business. (Present original copy for comparison)
          * License as General Bonded Warehouse if business is warehousing/storage of goods other than grains.
   4. Processing fee of P 300.00 plus P15.00 documentary stamps.

For Corporation / Partnership / Cooperative / Other Judicial Entities

   1. Submit completely filled up new application form. (At least one of the incorporators may sign the form or the board's authorized signatory)
   2. Photocopy of the SEC/CDA certificates of registration and articles of incorporation/partnership/cooperative, and that:

      For corporation, the corporate secretary should certify true copy each page of the SEC certificate of registration and articles of incorporation.
      For partnership, one of the partners should certify true copy each page of the SEC certificate of registration and articles of partnership.
      For cooperative, the cooperative secretary should certify each page of the CDA certificate of registration and articles of the cooperative.
   3. Board Resolution/Partnership agreement for the authorized signatory, if signatory is not one of the incorporators/partners; and,
   4. Processing fee of P 500.00 plus P 15.00 documentary stamps.

For Corporations registering an adopted Business Name:
1. Same requirements stated above; and, 2. Board Resolution for the registration of an adopted name

For Franchise Holders

    * Consent Certification from Franchisor
    * Photocopy of the business name certificate of the franchisor; and,
    * Basic requirements in filing an application for the registration of the business name.

Who can apply for a Business Name?
Any natural person who is at least 18 years old (must be a Filipino citizen) or any juridical person who is not disqualified by any existing law or regulations to engage in business and who is using a firm name, business name or style. Corporations/Partnerships registered with Securities and Exchange Commission (SEC) using only such corporate/partnership name, may no longer register under the Business Name Law.

Is Business Name registration required?
Under the Business Name Law, sole proprietors must be registered with the Department of Trade and Industry. For valid reasons, a corporation, which may want to adopt a business name or style, must be duly registered with DTI.
Where can I get the application forms?
In DTI-NCR, the forms are available at the Information Counter of the Business Registration Center, DTI Main Building, 361 Gil Puyat Ave., Makati City. (The business name application forms can also be downloaded)

How long is the validity of my BN registration?
The Business Name registration is renewable every 5 years. Such renewal should be made within the 90 days grace period following the expiration of the 5-year period from the date of the original registration. The Business Name is automatically deleted from the computer files 6 months after the date of expiration and after publication of such in leading newspapers. If applicant registers after 6 months after the date of expiration, his/her application is considered as a new application.

Early renewal or renewal before the expiration date is not allowed.

What are the requirements for RENEWAL of Business Name registration?
For Sole Proprietorship

    * Submit completely filled up renewal application form. Only the owner of the business is authorized to sign all the forms.
    * Surrender original copy of old business name and the duplicate copy of the application form. An affidavit of loss if either certificate or application was lost.
    * Additional requirements on a case to case basis depending on actual examination and processing of the application.
    * Processing fee of P 300.00 plus P15.00 documentary stamps if renewed within 90 days grace period,

Assessment of surcharge as follows:

    * If it is within 90 days grace period after the date of expiration - no surcharge
    * If it is renewed 90 days after the date of expiration - with P 100 surcharge
    * If it is renewed 6 months after the date of expiration and business name was deleted from the records after publication of such in leading newspapers - consider as original application.

For corporation/partnership/other juridical entities

    * Certified photocopy (by the corporate secretary) in each page of SEC/CDA certificate of registration and articles of incorporation/partnership.
    * Board Resolution/Partnership agreement for the authorized signatory, if signatory is not one of the incorporators.
    * If address of corporation has changed/transferred, corporation should inform SEC first ( A receiving copy of such notice from SEC should be submitted)
    * Additional requirements on a case to case basis depending on actual examination and processing of the application.
    * Processing fee of P 500.00 plus P 15.00 documentary stamps.

Assessment of surcharge as follows:

    * If it is within 90 days grace period after the date of expiration - no surcharge
    * If it is renewed 90 days after the date of expiration - with P 100 surcharge
    * If it is renewed 6 months after the date of expiration and business name was deleted from the records after publication of such in leading newspapers - consider as original application.

Do I still need to register the branches of my business?
Yes, a business name registration is valid only at the business address stated in the Business Name certificate. Hence, the main business and all the branches must be individually and separately registered with their corresponding application.

What are the requirements for registering a Branch?
Basic requirements of business name application plus photocopy of business name certificate of Main Office.

Is there a minimum required capitalization for opening up a business?
A realistic amount of capital sufficient to run the business is strongly recommended. However, there is a minimum amount of capital required for certain lines of business.

    * P5,000,000 for financing company. (the form of business organization is always a corporation and not sole proprietorship.)
    * Lending Investors should now be registered as a corporation with the SEC first.
    * P100,000 for pawnshop for sole proprietorship
    * P1,000,000 for sole proprietorship or a partnership for overseas placement; P1,000,000 paid up capital for corporation

What are the requirements/procedures for the Change of Business Name (by the same Sole Proprietor)

    * Filled-up new application form. The form is available at the Information Counter of the Business Registration Center at the DTI Main building, 361 Gil Puyat Ave., Makati City. Only the owner of the business is authorized to sign all the forms.
    * Submit a notarized affidavit of cancellation of the registered business name, stating the reason/s for the cancellation and that the registered owner has no outstanding financial obligation.
    * Surrender original copy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
    * Basic requirements for business name application.
    * Processing fee of P 300.00 plus P15.00 documentary stamp

What are the requirements for the Change of Business Name (by the corporation/Partnership)
Adopted Name:

   1. Board Resolution for the cancellation of the registered business name, stating the following:
         1. reason/s for the cancellation
         2. that the corporation or partnership has no outstanding financial obligation in connection with the operation of the said business.
   2. Surrender original copy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
   3. Basic requirements for business name application.
   4. Processing fee of P500 plus P15.00 documentary stamp.

Corporate Name:

   1. Board Resolution for the cancellation of the registered business name, stating the reason/s for the cancellation and that the corporation or partnership has no outstanding financial obligation in connection with the operation of the said business.
   2. Amended SEC/CDA articles of incorporation/certification. Surrender original copy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
   3. Basic requirements for business name application.
   4. Processing fee of P500 plus P15.00 documentary stamp.

Do we still need to inform DTI when we close our business?
Yes, you have to apply for cancellation of your registered business name.

What are the requirements for Voluntary Cancellation (by the Sole Proprietor)?
# Letter request signed by the owner.
# Submit affidavit of cancellation of the registered business name, stating the reason/s for the cancellation and that the registered owner has no outstanding financial obligation at the time of closure of establishment.
# Surrender original copy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.

What are the requirements for Voluntary Cancellation (by the Corporation/Partners)?
If Dissolved at SEC,

    * Letter request signed by the authorized signatory. (Board Resolution for the authorized signatory)
    * Certified photocopy of the SEC certificates of dissolution of the corporation/partnership.
    * Surrender original copy of the business name certificate of registration and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.

If Business Name Registration Only

   1. Corporate Name:
         1. Letter request signed by the authorized signatory. (Board Resolution for the authorized signatory)
         2. Board resolution/partnership agreement for the cancellation of the registered business name stating that the Corporation/Partnership is retiring from business; surrendering the business name certificate for cancellation and that at the time of closure of establishment the business has no outstanding financial obligation, or a certified copy of the Certificate of Dissolution (if applicable)
         3. Surrender original copy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
   2. Adopted Name:
         1. Letter request signed by the authorized signatory. (Board Resolution for the authorized signatory)
         2. Board Resolution/Partnership agreement for the cancellation of the registered business name, stating the reason/s for the cancellation that the corporation/partnership has no outstanding financial obligation at the time of closure in connection with the operation of the said business and if there were creditors copy of notice to them.
         3. Surrender original copy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.

What are the requirements for Change of Address (by the Sole Proprietor)?
# Letter request signed by the owner stating the reason/s for the change of address and the new location. (Only the owner can sign the letter request)
# Preferably a photocopy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
Processing fee of P 50.00

What are the requirements for the Change of Address (by the Corporation/Partnership)?

   1. Corporation
         1. Letter request signed by the authorized signatory. (Board Resolution for the authorized signatory)
         2. Amended Articles of Incorporation/ Certification from SEC or receiving copy of notice for such changes.
         3. Preferably a photocopy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
            Processing fee of P 50.00 If Adopted Name/Branch
         1. Letter request signed by the authorized signatory. (Board Resolution for the authorized signatory)
         2. Board Resolution for the change of address, state the new location of the business and the reason/s for the change of address.
         3. Preferably a photocopy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
         4. Processing fee of P 50.00

I lost my original BN registration certificate. How can I secure another copy?
You may be able to secure, as your option, a substitute document to evidence the existence and validity of your business name based on the DTI registration records. This option refers to a request for and issuance of the CERTIFICATION - which is an attestation of the fact of registration of the given business.

Requirements to secure a CERTIFICATION from DTI-NCR are:

1. Letter request signed by the authorized signatory, stating the ff:

    * business name (BN)
    * address of business name
    * reason/s
    * Business Name certificate number

2. Secure and attach notarized affidavit of loss.
3. Processing fee of P50.00 per business name.
Logged

Advertise Your Business Here | Slot 2 | Slot 3 | Slot 4




This is an example only. Admins will not participate in this program.

Philippine Business Seminar

calipinoy
PinoyBusiness.ORG Advocate
Global Philantropist
*

USER FEEDBACK RATING = 128
Offline Offline

Posts: I am a geek!!


WWW
« Reply #1 on: April 10, 2008, 06:43:52 PM »


What are the requirements if I want to change my Main Outlet to Branch (vice-versa)?
Sole Proprietorship
# Letter request signed by the authorized signatory
# Photocopy of BN certificate and accompanying duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
# Processing fee of P50.00
# Corporation Letter request signed by the authorized signatory
# Board Resolution for the change of main outlet to branch and branch to main outlet.
# Photocopy of BN certificate and accompanying duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
# Processing fee of P50.00

What are the requirements if I want to request for verification if a certain business name is registered?
You may verify/search a business name through the internet via www.bnrs.dti.gov.ph/bnrspub/inquire.jsp.

If you need a certification from DTI regarding a valid verification, the following requirements are needed:
1. Letter request signed by the requesting party, stating the following:
# business name (BN)
# address of business name
# reason/s for verification
# BN certificate #
# 2. Processing fee of P50.00 per business name verified. Verification may be allowed for valid reasons like investigation and legal purposes only.

What are the requirements if I want to secure a Certified True Copy?
Requests for Certified True Copy of the Business Name Certificate is allowed if the applicant has with him/her photocopy(ies) of the Business Name certificate which he/she would want the agency to certify as true and correct. The requirements in securing a certified true copy are:
# Letter request signed by the requesting party
# Photocopy(ies) of the Business Name certificate
# Processing fee of P50.00 per copy

What are the requirements if I want an additional line of Business (by the Sole Proprietor)?
# Letter request signed by the owner stating the additional line of business. (Only the owner can sign the letter request)
# Photocopy of the business name certificate.
# Preferably a photocopy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
# Processing fee of P 50.00.

What are the requirements if our Corporation/Partnership applies for an additional line of Business?
# Letter request signed by the authorized signatory. (Board Resolution for the authorized signatory)
# Certified photocopy of the articles of incorporation/partnership or amended articles, if applicable.
# Preferably a photocopy of business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
# Processing fee of P 50.00.

What are requirements if I increase/decrease my Capital as sole proprietor?
# Letter request signed by the owner stating the increase/decrease in capital. (Only the owner can sign the letter request)
# Photocopy of business name Certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
# Processing fee of P 50.00

What are the requirements if our Corporation/Partnership will increase/decrease our capitalization?
# Letter request signed by the authorized signatory. (Board Resolution for the authorized signatory)
# Certified photocopy of the Amended Articles of Incorporation
# Photocopy of the business name certificate and the duplicate copy of the application form. An affidavit of loss if either the business name certificate and/or the duplicate copy of the application form was lost.
# Processing fee of P 50.00

Is there a need for a Corporation/Partnership/Cooperative to register with DTI?
Under the Business Name Law, registration of names of corporations, partnerships, cooperatives with DTI is optional, if they use their regular corporate name, as they are already registered with either Securities and Exchange Commission (SEC) or the Cooperative Development Authority (CDA). But if they use an adopted name, they are required to register with DTI.

Can a natural person or sole proprietorship use the word "corporation" or "incorporated" as part of his business name? How about company?
No, only a partnership or corporation registered with SEC can use the word "company" or "corporation" as part of their business name.

Can anyone sign in behalf of the owner in the Business Name application?
No, unless one has a Special Power of Attorney (SPA) authorizing him/her to sign in behalf of the owner.

In case of a partnership/corporation, who is authorized to sign the application?
One of the partners/incorporators or corporate secretary duly authorized by the Board of Directors through a Board Resolution.

Is it possible to have more than one business name?
YES.
Logged

Advertise Your Business Here | Slot 2 | Slot 3 | Slot 4




This is an example only. Admins will not participate in this program.
prettyclaire
Taskmaster (Level 6)
******

USER FEEDBACK RATING = 12
Offline Offline

Posts: 324



« Reply #2 on: April 10, 2008, 07:15:29 PM »

Very nice.  Smiley
Logged

Business Seminars Philippines

Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by SMF 1.1.10 | SMF © 2006-2009, Simple Machines LLC