Philippine Business Registrations

Are you an aspiring business owner? Entrepreneur? Planning an offshore company, Small or Medium-sized Enterprise, or even a startup? Business registration is one of the prerequisites you need when you are starting off in the ventures stated above. This guide might help you know WHY legitimizing you business is necessary and WHAT government agencies that a business needs to register with.

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WHY BUSINESS REGISTRATIONS ARE NECESSARY IN THE PHILIPPINES

Business registration in the Philippines is a legal document required by companies before operating. It is necessary since it follows Republic Act 3883, generally known as the Business Name Law, which states that it is against the law to use a business name that has not been registered with the Department of Trade and Industry (DTI).

However, just because you have a DTI business registration does not imply you can start doing business right away. Other government-issued documents, such as business permits and other legal paperwork, are required.

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GOVERNMENT AGENCIES YOU NEED TO REGISTER WITH

Depending on the type of business you are starting, you may need to register with different government agencies.

Among these organizations are the following:

• Department of Trade and Industry (DTI) - this is the government agency where SINGLE PROPRIETORSHIP enterprises register and secure its Certificate of Registration.

• Securities and Exchange Commission (SEC) - this is the government agency in charge of registering and overseeing all PARTNERSHIPS AND CORPORATIONS formed in the Philippines. Representative offices and branch offices are also licensed through this agency.

• Bureau of Internal Revenue (BIR) - For tax purposes, EVERY business entity must register with the BIR. The Bureau will issue your company with its own tax identification number (TIN) as well as the ability to produce receipts, invoices, and other documents.

• Social Security System (SSS) - EMPLOYERS AND EMPLOYEES are required to register with this government agency. This program, which is financed by mandated payroll contributions, assists individuals who are retired, currently unemployed, or unable to work due to a disability.

• Philippine Health Insurance Corporation (PhilHealth) - EMPLOYERS AND EMPLOYEES are required to register with this government agency. Under this, the National Health Insurance Program aims to provide health insurance coverage and affordable health care services to all Filipino residents.

• Pag-IBIG Fund - also known as Home Development Mutual Fund (HDMF). EMPLOYEES who are members of the SSS are required to register with this government agency. It runs a national savings program and offers Filipino workers affordable housing finance.

• Various Local Government Units - where local government permits and licenses required for business operations are obtained (e.g., Mayor's or Business permit)

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If you need to register your business,

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