HOW TO REGISTER A BUSINESS IN THE PHILIPPINES | Sole Proprietorship, Partnership or Corporation?
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
kzread.info?s...
► Music Credit: DJ Quads
Track Name: “IT’S NEAR”
Music by: Dj Quads @ / aka-dj-quads
Official KZread 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
Пікірлер: 452
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.
@mayzielpatalinghug3388
2 жыл бұрын
I would like to ask if you have an idea on what are the requirements if you have foreign partnership for a cafē business?
@dedzdebz
2 жыл бұрын
Hello po mam pde po mag patulong s inyo
@dedzdebz
2 жыл бұрын
Dahil dyan mahal n po kita. Liligawan kita
@ahmadabdullah352
2 жыл бұрын
Thanks for your information. Please I need to open a factory if you can send me your contact
@deankoch7305
2 жыл бұрын
Would you like to start a business in fishing with me?
Thank you for this! So much information explained very well, you deserved a million subscribers.
This is amazing! Really helpful! Concise, brief, and simple
very organized and detailed, thanks for making this video! Cheers and stay safe!
Thanks Charm, avid fan here. Very imformative
Thanks! Very helpful and well explained!
This is such a helpful learning video. This wasn't elaborated in college, as far as I could remember.
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 ♥️
This is really a big help for me. Thank you Ms. Charm.
Thank you, Ms Charm! Its an informative video and you have clearly explained everything. God bless!
Thank you! Dako kaayo ug tabang miss ☺️
Thanks for sharing your knowledge! This helps!
Thank you for your very detailed explanation, hoping too see more of this videos 😀
Very helpful! Hope you can also create a video with deep dive discussion for sole proprietorships that are involved in online selling :)
Taking some notes here while watching your video. Thank you.
1/3 palang sa video na answer na nimo akong business questions! 👏
Thank you. Huge help! I'm going to check your other videos.
Thank you for the very clear explanation.
waaaah. this is what ive been looking for. thank you for the information
Love your content. Very thorough.
Thanks this is very detailed explanation!
This video is very helpful specially for the foreigners who want to invest here in the Philippines kudos ❤️
Thank you! This video helps a lot. God bless!
This is very Informative😊.
So informative and well explained! I really learned a lot. Subscribed agad. Keep it up :)
Makaamaze kaayo. Nice content , daghan ko nakat.onan until the end of vid. Salamat sa valuable info.
@CharmdeLeon
3 жыл бұрын
Salamat sad 😊 so glad na masabtan ra ako pag explain
Very informative video. Thank you Maam
Salute to you... Nice and explained very well...
Will wait for the video regarding taxes!!thank you so mu much
Hi Charm, thanks for the information, well said. keep up the great work. Thanks
Very informative! Thank you very much :)
Thank you ma’am. Very informative.
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!✨
@CharmdeLeon
3 жыл бұрын
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 😂
Ang galing at ang talino ng batang ito.
very informative. waiting for you to discuss about tax liabilities of different business based on your actual experience. tysm ☺️
Thank you for this excellent video!
thank you, very informative ☺️
Love your videos. Really informative. Thank you charm My goal is to finish watching all your videos. I'm binge watching it rn.
@CharmdeLeon
2 жыл бұрын
🤗🤗🤗
Watch ko to later. Para may matutunan lang hehe
thank u for sharing po! very helpful!
easy catch thanks.. i appreciate the vid.
Daghan salamat! Amping permi!😊 from Detroit, planning to go back home and open a tech biz in the Philippines. Originally from CDO 😊
Thank you. It is very informative
AHHHHH ALWAYS A GOOD CONTENT!!
@CharmdeLeon
3 жыл бұрын
❤️❤️❤️
thank you maam for this video.. lots of info, very clear and your so pretty as well.
Such a big help! 💯💯💯💯
Thank u this is very informative kagaya ko na mag-open pa lang.
Thank you so much! So helpful. I am so hyped up to be a sole proprietor and be a legal business owner
@CharmdeLeon
2 жыл бұрын
Glad it was helpful!
Thank you so much Charm!
Great! This is helpful for start up business owner like me! Thank you! Stay safe!
@CharmdeLeon
3 жыл бұрын
Thank you! I’m glad!!
@carolgabriel3038
3 жыл бұрын
@@CharmdeLeon ang lending po b maam pwede s partnership or s corporation cya dpat.. TIA GODBLESS..
Thanks mam charm very informative.maayung gabee cebu.🥰
Love this video I wish there was a love button. Enjoyed this video very much 😁 great info for Philippines
@CharmdeLeon
3 жыл бұрын
JIM INCOME I’m curious how you do it there 🤔
@MAKEMONEYMARK8
3 жыл бұрын
@@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!
Very well said!
Thanks Ms. for sharing this.
Gandang gabei po. Sau maam salamat po sa content na to. 👍
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.
@dwainorpiano2615
2 жыл бұрын
How about the professional services maam charm
awesome.... thanks for the video
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.
@CharmdeLeon
3 жыл бұрын
Thank you! 🙏🏻 haha sabay tayo mag navigate sa adulting world, never ending learning haha
wow! helpful kaayo! salamat!
@CharmdeLeon
3 жыл бұрын
Lyle Tanciano welcome! ☺️
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 🧡
WOW !!! AMAZING KAAYU ! Very informative . Klaro na klaro kaayu pagka explained. Akong brain cells ni gimok na . Hahahahaha
@CharmdeLeon
3 жыл бұрын
Hahaha salamat! 🙏🏻 🤗
@CharleneBesin
3 жыл бұрын
@@CharmdeLeon God Bless you po hehehe .
Thank you very much! Thank you master!
Thankyou so much mam for the information ❤️
Amazing 🎉
Thank you Miss this can help me alot
Thank you soooo much! This is a very helpful video! 😊
@CharmdeLeon
3 жыл бұрын
Thank you!
Thank you for this vid! Narefresh yung knowledge ko tungkol sa partnership and corp.
@CharmdeLeon
3 жыл бұрын
Bianca De Guzman para lang online class 😂
@biancadeguzman1999
3 жыл бұрын
@@CharmdeLeon ay okay lang na online class yan, wag lang po talaga accounting 😂
I was able to register my business. Thanks to you! I'm also from Cebu :)
@CharmdeLeon
3 жыл бұрын
Woohoo!!!
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,
So informative! Thanks for sharing :)
@CharmdeLeon
3 жыл бұрын
firecrackerfrance welcome, France! Does it work the same there?
@debtfreeF
3 жыл бұрын
@@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
You can be an accounting reviewer. Nice video
Thank you for the knowledge. God bless you.
@CharmdeLeon
3 жыл бұрын
🤗🙏🏻
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 for the video :) I register my online business and they didn’t require me for Mayor’s Permit :)
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.
very informative content. im learning a lot from this channel. new subs here.
Hi, thank you for sharing
very helpful
Yaaaay new video
@CharmdeLeon
3 жыл бұрын
Mariewannaaa ☺️🤗
Thank you for sharing
Thank you , very informative....
@CharmdeLeon
10 ай бұрын
Glad it was helpful!
Thank you for this! Saved my ass from the penalties. Almost impulsively registered at DTI because of how easy it was.
@CharmdeLeon
3 жыл бұрын
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
@jpao4566
3 жыл бұрын
@@CharmdeLeon How much is the penalty?
@ravenranola9624
4 ай бұрын
@@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 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!
Never skip ads 🤑
@CharmdeLeon
3 жыл бұрын
David Delfin 😂 thank you!
Thank you!
Thankyou!!!
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
Thank you.
thank you Miss
Ty mam!!
thank you mam....
i like listening to you.
Naka sub po ako. ☺️
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?
thank you Mam
cash receipt, cash disbursement, general ledger, general journal
Do A Legal Business Always!!!.
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!
@CharmdeLeon
2 жыл бұрын
It’s not necessary esp for businesses with fewer daily transactions
Thank you for this. I subscribed as well. Planning to watch more of your videos. For DTI, do I have to put in National if my business is online selling? since my market is domestic customers?
@CharmdeLeon
2 жыл бұрын
Yes ☺️
@rivb9466
2 жыл бұрын
@@CharmdeLeon hi! I registered (very impulsively lol) for DTI as barangay lang. is that ok? Coz afaik, it doesn’t affect the distribution of products and only concerns where your “office” will be. Did I understand it correctly? 😭😭😭
Hey! my brand name has an “& Co” in it and we’ve already been in business for a few months now but we just learned that if we register we cannot use Co as sole proprietor. is it worth to register into a 2 person corporation for our online business or is that too big for our modest business?