Overview of Essential Philippine Government Agencies in Starting a Business
1. Department of Trade and Industry (DTI)
2. Securities and Exchange Commission (SEC)
3. Bureau of Internal Revenue (BIR)
4. Social Security System (SSS)
5. Department of Labor and Employment (DOLE)
6. Home Development Mutual Fund (HDMF)
7. Philippine Health Insurance Corp. (PhilHealth)
Step-by-Step Guide on How to Start Up a Business in the Philippines
1. Verify and reserve the company name
2. Notarize articles of incorporation and treasurer’s affidavit at the notary
3. Prepare necessary documents for registering with the SEC
4. Deposit paid-up capital in the Authorized Agent Bank (AAB) and obtain bank certificate of deposit.
5. File the accomplished forms and documents for processing. All documents executed outside the Philippines must be authenticated by the appropriate Philippine Embassy or consulate in the area concerned.
6. Pay the filing fees to the SEC cashier
7. Once the application for registration has been approved, the certificate will be issued. Claim it from the SEC Releasing Unit, Records Division upon presentation of the official receipt issued for payment of filing fee.
8. Pay the annual community tax and obtain the community tax certificate (CTC) from the City Treasurer’s Office (CTO).
9. Obtain a Barangay or District Clearance
10. Obtain the business permit to operate from the Business Permits and Licensing Office (BPLO).
11. Buy special books of account from the bookstore
12. Apply for Certificate of Registration (COR) and TIN at the Bureau of Internal Revenue (BIR).
13. Pay the registration fee and documentary stamp taxes (DST) at the Authorized Agent Bank (AAB)
14. Obtain the authority to print receipts and invoices from the BIR.
15. Print your official receipts and invoices.
16. Have books of accounts and Printer’s Certificate of Delivery (PCD) stamped by the BIR
17. Register with the Social Security System (SSS)
18. Register with the Philippine Health Insurance Company (PhilHealth).
19. Register your business with the Department of Labor and Employment (DOLE) and Home Development Mutual Fund (Pag-IBIG).