Philippine Business Registration – A Short Guide for Startup Companies

The Philippines is considered among the quickest expanding economies within Southeast Asia. As a result, industries are slowly starting to increase and a lot more investment is coming into the nation. If you are considering starting a business, you need to undergo a considerable number of processes. Keep in mind that like many countries, you can’t just set up shop and hang up an ‘open’ sign. Philippine business registration might be a tedious process. If you’re not knowledgeable about the process, working with a consultancy firm will probably be your best option.

With the aid of consultants, Philippine business registration can be a breeze.Generally speaking, the entire process will take anywhere between two to three weeks. With much larger ventures, expect an extra day or two to address any intricacies which could come about. Working with a qualified consultancy firm will take away the possibility of you going through any major troubles. Here are some of the steps you will need to take.

The first step to establishing in the country will be the registration of your company name. The government agency you deal with is determined by the type and scale of your venture. Single proprietorships must register with the Department of Trade and Industry (DTI). Foreign-owned businesses must also provide a minimum capitalization requirement from a local bank. In cases where the department deems it mandatory, you might even have to register with the Securities and Exchange Commission (SEC).

Partnerships will need most of the same requirements with a a small number of modifications. Those with a capital of a lesser amount than three thousand Philippine Pesos only need to deal with the DTI. In case your capital is higher than that amount, you will need to register with the SEC. Additionally, if one of your partners is a foreigner, the submission of SEC form F-105 is needed, as well as notarized copies of the Articles of Partnership.

Starting a corporation in the country is more technical. This endeavor has two types: Filipino-owned and foreign-owned domestic corporations. To become qualified as a Filipino-owned corporation, the split has to be 60% Filipino, 40% foreign-owned; anything above 40% is foreign-owned. For the latter, submission of SEC form F-100 is required. Keep in mind for most types, there exists a listing of common documents necessary. For instance , permits and clearances from several government offices, tax detection and verification from the Bureau of Internal Revenue (BIR), and business permits from city units.

Another fundamental part of the whole system is trademark registration. Philippines is a member of the World Intellectual Property Organization, and thus it values the patents and trademarks of other member countries. Trademark registration in Philippines lasts for a minimum of ten years. It is vital that you register with the Intellectual Property Office in the country to make certain you are not breaking any rules.

Philippine business registration may appear complex at first, but the aid of a consultant can make things go smoothly. Go with a consultant that is highly knowledgeable in the field. A professional consultancy firm will have the expertise to make the entire process smooth and trouble-free. Seek advise from one that will give you an extensive amount of services to get your company in the Philippines up and running immediately.

Carmine Lombardi is a college professor who is highly knowledgeable about Philippine business registration and trademark registration Philippines.