HOW TO REGISTER A BUSINESS IN THE PHILIPPINES | Sole Proprietorship, Partnership or Corporation?
Вставка
- Опубліковано 2 сер 2024
- How do you register a business in the Philippines? How much does it cost to register a business in the Philippines? What is the difference between Sole Proprietorship, Partnerships, and Corporations? That’s what we’re gonna be covering today! If you have an online business, freelancing business, or traditional business, we all need to register this. So, this video runs through the different decisions you have to make and offices you need to go to make your side hustle into a legal entity.
Dealing with personal finances, especially since it’s not taught in school can be quite hard and confusing. I hope this video and this channel will help you out in the challenges we are facing right now with personal finance, entrepreneurship and adulting in general.
►Outline :
0:00 - Intro & Features
0:34 - Start of Video
1:00 - Outline
1:34 - Name Registration
1:41 - Business Name vs Brand Name
2:37 - Business Structures
2:50 - Sole Proprietorship
4:00 - Partnerships
6:01 - Corporations
9:55 - DTI
11:11 - SEC
13:35 - IPO
13:56 - Business Permit
17:40 - BIR Permit
21:07 - Recap/Summary
22:24 - Why should we register?
23:43 - Outro
►Sources/Links
►DTI: www.dti.gov.ph/
►BNRS: bnrs.dti.gov.ph/services
►SEC: sec.gov.ph/
►SEC Regsitration Calculator: www.sec.gov.ph/online-service...
►IPO: ipophil.gov.ph/
►businessdiary.com.ph/3634/bus...
►mybusinessacademy.ph/resource...
►www.businesscoachphil.com/be-a...
► Previous Videos :
HOW TO START A BUSINESS in 6 steps ► • HOW TO START A BUSINES...
BEST ONLINE SIDE HUSTLES IN THE PHILIPPINES ► • BEST ONLINE SIDE HUSTL...
TOP APPS THAT HELP YOU SAVE MONEY ► • TOP APPS THAT HELP YOU...
5 Tips on How to Get Good with Money ► • I TRIPLED MY SAVINGS! ...
► REQUIREMENTS :
►DTI
-Presentation of 1 copy of government issued ID
-Accomplished Business Name Registration form
-Registration fee
►SEC (Partnerships)
-Name Verification Slip (online or at the name Verification Unit)
-Articles of Partnership
-Written Undertaking to Change Corporate Name by any partner
-Form F-105 for partnership with Foreign Equity
-Proof of Inward Remittance by foreign partners
►SEC (Corporations)
-Verification Slip Form (S) (NS)
-Articles of Incorporation (S) (NS)
-Treasurer’s Affidavit (S)
-Notarized Bank Certificate of Deposit where the bank is located (S)
-Written Undertaking to Change Corporate Name by any Incorporator or Director (S), by any Trustee (NS)
-Clearance from other government agencies (S)
-Foreign Investment Application Form F-100 (for subsidiaries of foreign corporations (S)
-Proof of Inward Remittance by Non-Resident Aliens/Subscribers (S)
-List of members and amount contributed certified by the Secretary and Treasurer (NS)
-Registration fee
►Business Permit
-DTI or SEC Registration
-Certificate/Articles of Incorporation
-Community Tax Certificate
-Barangay Clearance
-Location Clearance
-Certificate of Occupancy
-Building Permit
-Fire Safety/Inspection Permit
-Electrical Inspection Certificate
-Contract of Lease
-Picture/Sketch of the Site
-Public Liability Insurance (for restaurants, mall, cinemas)
-SSS Registration
►BIR Permit (TIN Number)
a) Self Employed/Mixed Income Individual (BIR Form 1901)
-Birth Certificate or any valid ID
-Mayor’s Permit/application for Mayor’s Permit
-DTI Certificate of Registration
b) For Partnerships and Corporations (BIR Form 1903)
-SEC Certificate of Registrations
-License to do business in the Ph (foreign corporation)
-Mayor’s Permit/Application for Mayor’s permit
►SOCIALS
Instagram: / deleoncharmaine
TikTok: / deleoncharm
Facebook Page: / charmdeleon
Facebook Group: / ready2adultph
Email: hello@ready2adultph.com
ua-cam.com/users/CharmdeLeon?s...
► Music Credit: DJ Quads
Track Name: “IT’S NEAR”
Music by: Dj Quads @ / aka-dj-quads
Official UA-cam Channel HERE: / channel
Disclaimer:
This video and description contain affiliate links where I may or may not receive a commission. This helps support the channel and allows me to continue to make videos such as this. I am not a financial advisor. Always do your due diligence.
KEYWORDS:
Starting a business in the philippines, how to start a business ph, register a business in the philippines, business registration, how to register a business in the philippines, filipino entrepreneur, Ready2Adult ph, charmaine de leon, charm de leon
Just a reminder:
All business will need the 3:
1. Name registration (DTI/SEC)
2. Business Registration (City Hall)
3. BIR Registration (BIR)
You can register as a professional (No need name registration) but still BUSN PERMIT + BIR. Even if your clients are foreigners, even for micro/small businesses.
“DTI Registered” is not considered a legally registered business as it only takes 5 mins to get DTI online.
I would like to ask if you have an idea on what are the requirements if you have foreign partnership for a cafē business?
Hello po mam pde po mag patulong s inyo
Dahil dyan mahal n po kita. Liligawan kita
Thanks for your information. Please I need to open a factory if you can send me your contact
Would you like to start a business in fishing with me?
when i was 16 years old i subscribed to you and had nothing in mind i dont really understand that much because i have nothing to do with business before...but i knew that your videos are very educational... now that I am 20 I now understand you more clearly and I'm so glad that you are here ♥️
Thank you for this! So much information explained very well, you deserved a million subscribers.
Very helpful! Hope you can also create a video with deep dive discussion for sole proprietorships that are involved in online selling :)
very organized and detailed, thanks for making this video! Cheers and stay safe!
This video is very helpful specially for the foreigners who want to invest here in the Philippines kudos ❤️
This is amazing! Really helpful! Concise, brief, and simple
Thank you, Ms Charm! Its an informative video and you have clearly explained everything. God bless!
This is such a helpful learning video. This wasn't elaborated in college, as far as I could remember.
Thank you for your very detailed explanation, hoping too see more of this videos 😀
This is really a big help for me. Thank you Ms. Charm.
Taking some notes here while watching your video. Thank you.
Thanks! Very helpful and well explained!
Thanks Charm, avid fan here. Very imformative
1/3 palang sa video na answer na nimo akong business questions! 👏
Thanks for sharing your knowledge! This helps!
I'd really be honest as one of your audiences, the feels of watching your vids are like chatting to a friend who had lots of useful tips in mind & like listening to my econ prof wayback college in one. Hihi
More power to you channel Ms. Charm!✨
Wow, thank you, Jen! I actually started my channel because I keep talking to my friends about these and they suggested to make a video so I can just send a link next time 😂
very informative. waiting for you to discuss about tax liabilities of different business based on your actual experience. tysm ☺️
waaaah. this is what ive been looking for. thank you for the information
Hi Charm, thanks for the information, well said. keep up the great work. Thanks
Thank you so much! So helpful. I am so hyped up to be a sole proprietor and be a legal business owner
Glad it was helpful!
Thank you ms. Charm. Big help. Planning to open a milk tea and snacks business this year and I really need to know about this.
How about the professional services maam charm
Thank you! This video helps a lot. God bless!
Will wait for the video regarding taxes!!thank you so mu much
Thank you. Huge help! I'm going to check your other videos.
Thanks for the very informative video! Me and my two other buddies are about to start a business in the gadget/electronics industry. We are on our mid 30's pero ngayun palang kame mag aadulting haha! We'll watch your other vids as well.
Thank you! 🙏🏻 haha sabay tayo mag navigate sa adulting world, never ending learning haha
Makaamaze kaayo. Nice content , daghan ko nakat.onan until the end of vid. Salamat sa valuable info.
Salamat sad 😊 so glad na masabtan ra ako pag explain
So informative and well explained! I really learned a lot. Subscribed agad. Keep it up :)
Thanks this is very detailed explanation!
Thank you for the very clear explanation.
Love your videos. Really informative. Thank you charm My goal is to finish watching all your videos. I'm binge watching it rn.
🤗🤗🤗
thank you maam for this video.. lots of info, very clear and your so pretty as well.
Thank u this is very informative kagaya ko na mag-open pa lang.
Thank you! Dako kaayo ug tabang miss ☺️
Very informative! Thank you very much :)
Daghan salamat! Amping permi!😊 from Detroit, planning to go back home and open a tech biz in the Philippines. Originally from CDO 😊
This is awesome! Glad that I found this video! Quick questions, is it possible to operate the business first to save up funds for the permits? Would there be problems doing that? My business would be in the field of online services. Again, thank you for this quality video.
Ang galing at ang talino ng batang ito.
This is very Informative😊.
Very informative video. Thank you Maam
Thank you so much for this! Regarding the SEC Registration expenses, the 5k to 10k cost, is this determined by the calculator directly or not? What other costs should we expect aside from that which is determined by the calculator (which ofcourse is dependent on the declared capital)? Thank you!
AHHHHH ALWAYS A GOOD CONTENT!!
❤️❤️❤️
Salute to you... Nice and explained very well...
Watch ko to later. Para may matutunan lang hehe
Thank you ma’am. Very informative.
Great! This is helpful for start up business owner like me! Thank you! Stay safe!
Thank you! I’m glad!!
@@CharmdeLeon ang lending po b maam pwede s partnership or s corporation cya dpat.. TIA GODBLESS..
Just watched you vids, and i continue watching when i heard you said "Sugbo".
I am amazed by that business, it makes me jealous that somebody did it already. Haha.
Been to Cebu last year, always visited the Sugbo mercado. As always, its amazing.
And youre gorgeous BTW. Im a fan!! Lahi rajud 🧡
Hi Ms. Charm,
Impressed and amazed about your video. First video that I saw from you, would just like to ask if you have a vlog for registering business specifically for a certain industry?
Best Regards,
Thank you for this excellent video!
easy catch thanks.. i appreciate the vid.
I was able to register my business. Thanks to you! I'm also from Cebu :)
Woohoo!!!
thank you, very informative ☺️
Thank you. It is very informative
Such a big help! 💯💯💯💯
Gandang gabei po. Sau maam salamat po sa content na to. 👍
Love your content. Very thorough.
thank u for sharing po! very helpful!
Love this video I wish there was a love button. Enjoyed this video very much 😁 great info for Philippines
JIM INCOME I’m curious how you do it there 🤔
@@CharmdeLeon In the US, we have the IRS. You can applied to get a Employer Identification Number or EIN that's associated with your personal social security number. You would want to register the business a LLC with the state. Then you can applied for EIN. Once you have the LLC paper and EIN number. You can go to bank to open a checking account, credit cards in your business names. Then when you apply for affiliate offers or even google adsense, you would use your EIN or business name. So that way your name and private social number is not show to anyone. Thanks!
Thank you for this vid! Narefresh yung knowledge ko tungkol sa partnership and corp.
Bianca De Guzman para lang online class 😂
@@CharmdeLeon ay okay lang na online class yan, wag lang po talaga accounting 😂
Thanks Ms. for sharing this.
Hi Ms. Charm! Hope you can do a separate video that focuses more on registering an Airbnb business specially now that it’s required to be DTI registered by April 😊
Thank you soooo much! This is a very helpful video! 😊
Thank you!
ang ganda ni madam naintindihan ko lahat ng english
Thank you for the video :) I register my online business and they didn’t require me for Mayor’s Permit :)
Thank you so much Charm!
awesome.... thanks for the video
Thanks mam charm very informative.maayung gabee cebu.🥰
WOW !!! AMAZING KAAYU ! Very informative . Klaro na klaro kaayu pagka explained. Akong brain cells ni gimok na . Hahahahaha
Hahaha salamat! 🙏🏻 🤗
@@CharmdeLeon God Bless you po hehehe .
Hello! I hope you see my question and reply. As a sole prop business owner in the food industry, how would you go about expanding/branching out to different cities/municipalities? Would you need to register another sole prop for each branch you decide to open or would you just apply for Mayors, BIR etc permits for each location?
Thankyou so much mam for the information ❤️
You can be an accounting reviewer. Nice video
Never skip ads 🤑
David Delfin 😂 thank you!
Thank you very much! Thank you master!
wow! helpful kaayo! salamat!
Lyle Tanciano welcome! ☺️
Thank you for the knowledge. God bless you.
🤗🙏🏻
Yaaaay new video
Mariewannaaa ☺️🤗
Amazing 🎉
Very well said!
Thank you for this! Saved my ass from the penalties. Almost impulsively registered at DTI because of how easy it was.
Zachary Aldave yes! A lot of people do. What you can do if you’ve made that mistake is just to get another DTI Certificate (with a slightly different name 😂), but it would still be an expense haha
@@CharmdeLeon How much is the penalty?
@@CharmdeLeon hello mam kumuha po kami ng dti nung opening namin and hindi po namin naasikaso agad yung bir/mayors permit, and if magpapalit po kami ng name magkano po aabutin ng penalty 3months napo kami nag ooperate now po lang po kami nakaipon ng pagkuha ng mayors permit
Thank you Miss this can help me alot
Hello, thank you for the very informative video.
I would like to clarify regarding business name and brand name.
Does it mean, 1 business name can have a lot of different brand names as long as it is registered in IPO? Like Bistro Group of companies with diff brand names or chains of resto such as itallianis, TGI fridays and etc..
I hope you can enlighten me more coz I have a food stall and would like to register it this year. Thank you so much 😊
So informative! Thanks for sharing :)
firecrackerfrance welcome, France! Does it work the same there?
@@CharmdeLeon i'm actually not 100% sure because i know NOTHING about starting/registering for a business haha i still have a lot to learn
very informative content. im learning a lot from this channel. new subs here.
Hello Charm! Thank you very much for a very informative video. All are clear and very concise. I just want to ask if "cash registers" are necessary for a business. I am about to start my own business which is trading. Thanks!
It’s not necessary esp for businesses with fewer daily transactions
Hello, we are starting a corporation with my friends, specifically an online retail shop, should we register it first? Or are we free to start without permits? Will there be penalties if we register after a year of operating online? We're still trying if it will survive.
I love your videos, may request sana ako please gawa ka video how to register or start stock corporation business step by step in Philippines. Thank you
Hi, thank you for sharing
Thanks for this video! Jesus Loves you!
i hoped you elaborated on the brgy/regional/nat'l registration in DTI. so does that mean if i apply for brgy, i can only sell within the brgy?
Thank you for sharing
Hi charm, thank you for the video. Very informative. May I just ask, I’m planning to open a business, a rental business like yours “sugbo merkado”, what will be the ideal business type to register. And maybe can I pick your brain more about that business. Thank you!
Follow up question can I use, quickbooks (online based accounting books) for the books instead of the physical ones?
how bout opc? and hm gagastusin... who can u recommend n accountant??
May I ask what are the requirements for foreign partnership? since my partner is a foreigner, what are the things she need to do first for our partnership?
very helpful
Naka sub po ako. ☺️
whooaaat? kamukha mo yung sa Start-up na si Stephanie HAHA lol
Ma'am I have question. If I want to branch out my business to another city do I need to get another mayor's permit for that particular area? Example my main branch is at Manila then I want to put up another one at Pampanga. Do I still need to get mayor's permit at Pampanga City Hall?
I got my DTI and BIR sole prop last Feb and I wasn’t very aware getting the mayor’s permit or business permit and barangay clearance if they’re needed. Can I still acquire the business permit without penalty? Also, will I be required FSIC if my office is home office only?
Thank you!