Business Guide: How to Register your Business in the Philippines

If you are an aspiring entrepreneur or businessman who wants to find out what you need to do in order to legally set up your dream business in the Philippines, you have come to the right business article.

The Department of Trade and Industry, together with the Bureau of Micro, Small and Medium Enterprise Develoment (BMSMED), released a reader-friendly business brochure, A Guide to Registering Your Business, carrying leaflets of information with listed government units or agencies to whom you need to pass important documents and pay certain business registration fees in order to get permission to establish your business.

I’m sharing these four general steps to register your business before you are accredited by the government because only a few people are aware of this. It’s time that people utilize their savings into profiting from it rather than keeping it in banks.

Note that I’m not really knowledgeable of the business concepts provided here, but I tried my best to simplify explanations. Click on the links to be directed to the specific procedures in setting up your business.

Step 1: Business Entity Registration

1. If your business is a SOLE PROPRIETORSHIP (solely owned), register your business with the DTI.
2. If your business is a PARTNERSHIP or CORPORATION (owned by two or more investors/ partners), register your business with the Securities and Exchange Commission (SEC).
3. If your business is a COOPERATIVE (owned jointly by all its members/workers), register your business with the Cooperative Development Authority.

Step 2: Business Permit and License

1. Apply for a business permit and license at the city or municipality where the business will be located.
2. Get sector specific licenses:
1. Department of Tourism (DOT) for travel agency
2. Food and Drugs Administration (FDA) for food and cosmetics
3. Bangko Sentral ng Pilipinas (BSP) for pawnshop
4. Department of Education (DepEd) for educational institution, school, learning center
5. Department of Environment and Natural Resources (DENR) for furniture and other wood crafts

Step 3: Tax Identification Number (TIN), Authority to Print Invoice and Book Journal

For this, register with the Bureau of Internal Revenue (BIR) District Office.

Step 4: Employment-related Requirements

To comply with certain business regulations that concern labor and employment, register your business with the following offices:

1. Department of Labor and Employment (DOLE)
2. Department of Environment and Natural Resources (DENR)
3. Social Security System (SSS)
4. PhilHealth
5. PAG-IBIG