Starting a business is exciting and overwhelming. After saving enough money or after letting go of your full time work, you finally decided to embark into a new journey and fulfill your dream of starting a business.
But we all know that starting a business is not that easy. There are processes that you need to undergo. And one of them is securing the required licenses and permits. Of course you don’t want to be operating under shady, illegal, and unregistered deals.
So to help you get started on your dream business empire, here are the things that you need to secure in order for you to legally launch and operate your business here in the Philippines:
Individual, corporation, or partnership, whatever business type, you need to secure Bureau of Internal Revenue (BIR) forms first to acquire other necessary business permits and licenses. Thus, you also need to have a tax identification number (TIN).
Barangay clearance is important as it certifies that your business complies with the requirement of the local barangay where your business will operate.
DTI Registration Certificate
You need to register the name of your business under the Department of Trade and Industry. By securing a DTI registration certificate you can use the name of your business in any business-related operation and transaction. It also secures the name of your business from being used by other people or entity.
Also known as the business permit, this permit is secured through the office of the mayor of the city your business will operate. This permit ensures that your business is safe to operate under the city’s ordinance.
SEC Registration Certificate
Corporation or partnership businesses must secure an SEC Registration Certificate. By having an SEC certificate your business is considered legal.
If you have employees, you must register them on these government-mandated permits:
- SSS Employer’s Registration
- PhilHealth Employer’s Registration
- Pag-IBIG Employer’s Registration
- Department of Labor and Employment (DOLE)
We understand that securing all these licenses and permits are overwhelming and time-consuming. That is why, as licensed and trusted accountants, we assist businesses in helping them secure all these documents.
If you are starting a business and need a help on all these, don’t hesitate to contact us. Your first one hour business consultation is on us.