REGISTERING

BUSINESS
By: Ruby Jane T. Magdadaro
 Types of Business Registration
01 02 03
Sole Partnership Corporation
Proprietorship

04 05
Branch Office Representative
Office
 01
SOLE PROPRIETORSHIP
A type of business structure in which an individual,
often referred to as a ‘sole proprietor”, owns and
operated a business on their own, without the
formal creation of a separate legal entity like a
corporation or a partnership.
 Sole Proprietorship
Requirements: Process:
❏ Reserve, secure & register name from DTI
❏ Present accomplished forms/docs for processing
❏ Create name of business to be registered in and evaluation
DTI Business Name Registration System ❏ Get certificate from DTI
(BNRS) ❏ Secure business registration from local
❏ Applicant‘s TIN number government of chosen location of business (i.e.
❏ Provide copy of identification of citizenship Barangay Certificate, Mayor’s Permit & license)
(government issued IDs - Driver’s License, ❏ Register business in Bureau of Internal Revenue
Voter’s ID, Passport, etc.) (BIR)
❏ Provide signed copy of undertaking from DTI ❏ If with employees, register with the following:
BNRS ➢ Social Security System (SSS)
❏ Prepare payment for application ➢ Philippine Health Insurance
Corporation (PhilHealth)
➢ Home Development Mutual FUND
(HDMF)
 02
PARTNERSHIP
A type of business structure in which two or
more individuals or entities collaborate to jointly
operate and manage a business for the purpose
of making profit.
 Partnership
Requirements:
❏ 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
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)
 03
CORPORATION
A legal entity that is
separate from its owners,
known as shareholders or
stockholders.
 Corporation
Requirements:
❏ 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
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)
 04
BRANCH OFFICE
A type of business location or subsidiary that is
established by a company in a different
geographical area or location from its main or
headquarters office.
 Branch Office
Requirements:
❏ Create a 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
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 (HDM)
 05
REPRESENTATIVE
OFFICE
A representative office, often referred to as
a representative branch or liaison office, is a
type of business entity that a company can
establish in a foreign country to engage in
limited activities related to market research,
marketing, and promoting that parent
company’s interest.
 Representative Office
Requirements: Process:
❏ Create name of business to be registered in SEC ❏
❏
Reserve, secure register name from SEC
Submit completed forms and needed documents to
❏ Create draft of articles of partnership by- SEC
❏ Cover Sheet
laws ➢ Name Verification Slip
Authenticated copy of the Board Resolution
❏ Audited financial statements ➢
➢ Articles of Incorporation By- Laws
❏ Board resolution authorizing the creation and ➢ Audited Financial Statements (audited by an
independent Certified Public Accountant of the
establishment of the Representative Office in the home country)
➢ Proof of Inward remittance (bank certificate)
Philippines ➢ Resident Agents acceptance of appointment
❏ Minimum paid up capital of USD 30,000.00 (unless agent is the signatory in the application
form)
(PHP1,350,000.00) ➢ Affidavit of Resident Agent
❖ Requirements must be authenticated in the
❏ Resident Agent for the representative office Philippine Embassy/Consulate of the parent
(must be filipino resident- applied to any ❏ Get certificate from SEC
company's home country.

individual legally staying here for more than 185 ❏ Secure business registration from local
government of chosen location of business (i.e. Barangay Certificate, Mayor's Permit
days/ year). Licenses)

❏ Certification of inward remittance for minimum ❏ Register

(BIR)
business in Bureau of Internal Revenue

paid-up capital to local bank ❏ If with employees, register with the following
➢ Social Security System (SSS)
❏ Prepare payment for application ➢ Philippine Health Insurance Corporation
(PhilHealth)
➢ Home Development Mutual Fund (HDMF)
God bless!