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How to register my company cheaper and faster in the Philippines?

reygg · 13 · 3025

reygg

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Every business-minded person dreamed of having his own company. But in the Philippines, registration is too hard for those who don't have a lot of resources (i.e. funding, manpower, equipment, etc.)

Is there a way I can put up my own company easier and cheaper?

Any idea is welcome... no right or wrong.
« Last Edit: Jun 11, 2019, 01:42 PM by FutureGizmo »



Niel Jhacoubs

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reygg

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i'm planning of putting up a company. will start with merchandising then with enough capital will venture on real estate.

BUT, i am not sure if i could establish a company at this point. thinking to settle to sole propriety maybe to kick off.

What can you advice?


Niel Jhacoubs

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I think you need first to have a strong start, here's a link, read it, maybe it can help you. https://www.entrepreneur.com/article/204982


reygg

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Niel Jhacoubs

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JoenieV

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Hi, In terms of business registration, there are firms here that can help you with regards to your problem. The business you chose is currently the growing business industries in the Philippines. Just a suggestion if you don't mind. Why don't you try to find a business partner?


reygg

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I'm looking for business partner. But my POC is not yet ready.


prinovativemind

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Just make sure all the registration is done properly. Madali lang naman po.

DTI > Brgy. Permit > Mayors Permit > BIR
For DTI either apply for a Regional or National (Php 1000-2000 only)


Jugrel

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It is not that difficult to register a company, if you are equipped with the right kind of information. Just do your research to know what is required of you in advance, and what it would take to have your business up and running. You can pay for consultation services from companies that help with registrations, or find yourself a partner to share the registration costs if you feel unable to manage on your own


Sophisticat

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I registered my online business recently since I started to supply to corporate accounts which requires us to issue receipts.

Its easier if you do the documentation yourself and sole proprietorship. Less paperworks, less hassle.

The ff steps are applicable for online business and sole prop in QC.
If you plan on building a restaurant, office, establishment, steps are different.

DTI
1. You can do this online and pay via Gcash
2. Print your certificate

Barangay
1. Get authorization from homeowners assoc.
2. Get cedula, fill out forms in barangay. Ensure that you have title of the house. If house is being rented out, get authorization from owner or proof that you are a lessee.
3. Pick up clearance after 2 days.

Mayor's Permit
1. Present DTI, Barangay clearance
2. Present title of house or get authorization from owner or proof that you are a lessee.
3. Get Fire Inspection permit
4. Wait for building permit
5. Mayor's permit release
5. Fire safety inspector goes to your house (yes even if online business lang ako-in short, house ko pinuntahan nya). The main reason is to sell me fire extinguisher.

-During the Mayor's Permit and BIR stage, madaming photocopying sessions in between because they will ask for a duplicate copy of this and that. Please factor that in your time also.

While I was processing my permits, I usually allot 1 whole day. There were times na kesho nasa meeting daw yung mag ssign, instead of me waiting for another day to go back, i'd rather wait inside the office.

BIR
-If you were previously employed, ensure that you transfer your RDO to the new place of your business first.
-RDO transfer usually takes 3 to 5 days.
-Also, if you have an existing TIN number and you think your company will earn less than 3M in a year, tell the BIR staff you are NON-VAT. They will not initiate this because, they want to tax you as much as possible.

1. Fill out the different forms. Hay, I don't remember which forms basta madami yun. Ask for assistance na lang.
2. They will give you a check list to complete
3. They will ask how many employees you have since they will require employees to have individual TIN #s, PAG IBIG & SSS.
4. Buy doc stamp and temporary receipt (temp receipt is only valid 15 days upon issuance)
5. For the receipt, you have an option to have it printed by them which is 2 weeks. Kindly note that BIR has accredited printers only
6. Since I am in a rush to get permits for my business, I chose to have my receipt printed at the printer at the G/F of BIR QC.
7. Go to your accredited printer and ask for sample OR
8. Go back to BIR and they will check if your format is correct. If there are corrections, balik ka uli sa printer to ensure na perfect na yung receipt mo before they approve your Authority to Print.
9. Once your receipt is perfect. They will issue Authority to Print
10. Present ATP to your printer. Wait another 7 days (that's rush print already)
11. Fill out another set of forms. Buy journal, ledger, columnar. I stepped out to buy this in National Bookstore across
12. Stamp the pads and present to staff.
13. Attend the new businesses briefing which is at the 7/F every 1:30 PM. You will be briefed on tax updates which you have to do every quarter online, annual updates etc. This is important because non compliance will result to penalty charges.

Overall, it took me 2 months to complete.  Ang sarap sa feeling after. Sa sobrang manual ng registration sa Pilipinas, this is actually an initial test of your perseverance.

After you get your permits, you will realize, this is just the beginning. If I overcame this, I can do it again! Let's get it on.

Hope this helps future entrepeneurs!
« Last Edit: Aug 19, 2019, 10:24 PM by Sophisticat »



 


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