Government Regulations You Should Know Before Starting a Business in the Philippines

November 5, 2019

Running a business is not only about having a great product or service, but also requires certain permits and licenses from several government agencies. Before the business can go fully operational, it must secure the necessary licenses and certificate of registration.

Like all businesses setting-up in the Philippines, your organisation must go through SEC registration in order to formally incorporate. Perhaps the most important phase of the set-up process, SEC registration requires certain application materials, including an approved company name, articles of incorporation and information about directors, officers and shareholders. The process can take from 1-3 business days.

The following are the basic requirements to start commencing your business in the Philippines:

1. SEC registration
2. DTI registration
3. Mayor’s business permit
4. BIR Registration
5. SSS, PhilHealth, and Pag-Ibig Fund registration

Depending on the location in which your expansion is setting-up, certain local and regional permits may be necessary to operate in the city or municipality. Aside from the certificate of registration, your business would also need to comply with other requirements and must apply for certifications, permits, licenses, identification numbers from other government agencies and organizations. Only after registration with the BIR, will your business be issued with the Taxpayer Identification Number it needs to payroll taxes in the Philippines. Post-SEC and BIR registration, employers must also register for social security. Social security in the Philippines incorporates several administrative bodies: SSS, PhilHealth, and Pag-Ibig Fund registration, for remitting your employees’ contribution together with your employer’s share.

We understand that new business owners are busy with management and operation, which is why Xentralhub offers assistance in acquiring business permits and licenses to various government agencies. Use our office address with mail and package handling service in Makati City as the registered business address of your company and let us take care of all your Government Compliance matter so you can focus on your business.

To know more about guidelines on registering your business with the different government agencies in the Philippines, read https://www.dti.gov.ph/business/msmes/start-your-business#business-registration-and-permits-licenses for more reference.

 

Xentralhub is located at 5th floor 126, L.P. Leviste Street, Salcedo Village, Makati, 1200 Metro Manila. For rates and services, email info@xentralhub.com or check out our website at www.xentralhub.com.