The Ultimate Business Registration Guide Book - Revised May 15

THE ULTIMATE BUSINESS REGISTRA-TION GUIDE BOOK

BUSINESS REGISTRATION MADE EASY

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Experienced content is for individuals who already know the subject, yet want to increase their familiarity with it. This content covers more ad-vanced features of the subject and provide more practical examples. After reading this, you will feel comfortable handling tasks related to the topic.

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About The AuthorTHE ULTIMATE BUSINESS REGISTRATION GUIDE BOOK

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Dennis Salvador is Full Suite Inc.’s Business Development Associate, assisting in creating articles and e-books about business that aim to educate, to inform and to update their read-ers. He finished his studies at the Polytechnic University of the Philippines.

Dennis has been with Full Suite Inc. for more than a year now. Mainly, his roles in the com-pany revolve around helping new and existing businesses with their legalities and also pro-viding business owners an avenue to focus better on their operations.

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C H A P T E R 1

REGISTERING YOUR BUSINESS WITH THE SEC

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THE SECURITIES AND EXCHANGE

Registering a corporation with the Securities and Ex-change Commission (SEC) is not that hard to do, as many of our young businessmen may think it to be. This has been my main role with Full Suite for more than a year now and I can say with cer-tainty that it’s more fun in doing business in SEC.





















HOW TO REGISTER A [STOCK] CORPORATION WITH THE SECSTEP 1:Name Reservation a. Online name reservation

Go to SEC website: http://www.sec.gov.ph. Create an ac-count first and sign up before you can reserved your desired name.

b. Manual name reservation

Go to SEC office at the 2nd floor of the SEC Building along EDSA, Green-hills, Mandaluyong City, and look for the Name Verification Unit.

Remember to buy SEC Docs Stamp before filing.

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STEP 2: Prepare the Articles of Incorporation and By-Laws.

a. The template for the Articles of Incorporation (AOI) and By-Laws is available for download on the SEC website http://www.sec.gov.ph/download/other_forms.html.

b.You can also buy the forms at SEC office for P500.00.

STEP 3: Prepare the Treasurer’s AffidavitThis authorizes the SEC and the Bangko Sentral ng Pilipinas to examine and verify the de-sired amount in the bank, which is in the name of the treasurer-in-trust of the corpora-tion.

There is no need to pre-sent Bank Certificate per new memo of the SEC RES NO. 0331 dated July 20, 2012.

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STEP 4: Accomplish affidavit to undertake to change corporate name signed by president and corporate secretary of the corporation.


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THINGS YOU MUST KNOW1. Incorporators are required to be not less than five (5) but not

more than (15) persons.

2. Elected Treasurer’s in Trust must be Filipino Citizen.

3. All incorporators must be at least 18 years of age.

4. If there is a foreign incorporator/s, the share of stocks must 40% and 60%.

•For Foreigner(s) – 40%•For Resident(s) – 60%

5. Normal processing of Certificate of Registration.• New Business - 5 to 7 working days•Amendments - 10 working days

6. If you need to secure Certificate of Registration as fast as one day processing, you may go to the Green Lane Office at the 3rd Floor of SEC Building. You can buy Green Lane forms from them for P800.00. Fill up the forms and file them on 2nd Floor of the SEC Building.





















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7. When you are filing the AOI and By-Laws don’t forget to bring cor-rection tape and stapler, these will be useful if the processor will ask you to remove or change something in your AOI specifically in Article II - the Corporation’s primary and secondary purpose.

8. Also bring something that will entertain you while waiting, news-paper or magazine, headset or maybe your unfinished work will do. Normally it will take 30 minutes to 1 hour of waiting per trans-action, depends on the quantity of application. In my experience, the longest time that I’ve been waiting on SEC office is one whole day, believe or not. The upside is that there is a television set in every office that I’ve been dealing with that time.

9. Do not leave your application because once it has been called by the processor for a couple of times and no response from you, your application will proceed to the Corporation & Partnership Registration and Monitoring Division (CPRMD) Director. CPRMD Director will invite you to his office and will ask you for an expla-nation on why your not there, and believe me it’s not that good, because you must convince him that your absence is very reason-able before he will give you your application. Why I said this be-cause it happens to me. So better wait than called by the Director.





















C H A P T E R 2

BARANGAY BUSINESS PERMIT

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BARANGAY

Barangay is the smallest political unit of the Republic of the Philippines, yet plays a big role in the community.“ ”

Barangay is the smallest political unit of the Republic of the Philippines, yet plays a big role in the community. Other political units are provinces, cities and municipalities. The head is called Barangay Captain but today under the Local Government Code, he/she is called the Punong Barangay. A barangay serves as the primary unit of government policies, plans, programs, projects and activities in the community. Even in issuing permits, he barangay has a big role. So if you are to comply with your requirements in Securing Mayor’s Business Permit, Barangay Busi-ness Permit is one of them.





















HOW TO SECURE A BARANGAY BUSINESS PERMIT

Requirements for Barangay Business Permit (NEW)

1. DTI Certification (Single Proprietor) or SEC Certificate (Corporation or Partnership)

2. Contract of Lease, if you rent the place

3. Land Title/Tax Declaration, if you own the place

4. Certificate from Home Owner’s Association (if necessary)

PROCEDURE

STEP 1: Fill up the Application•Go to the barangay hall that has the jurisdiction over you.

• Go to the permit department and ask for the application form and fill it up.

•Submit the accomplished application form together with the other re-quirements.

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TRIVIA: There are 42,027 barangays in the

Philippines





















STEP 2: Assessment•Wait for the assessment. Normally, it takes 15 to 30 minutes de-

pending on the volume of application.

STEP 3: Payment•Get the assessed application.

•Process the payment at the cashier.

STEP 4: Receiving•Submit the paid application

STEP 5: ReleasingAfter receiving the paid application, just wait for the release. Some ba-

rangays release the certificate on the same day of your application, while others schedule it on the following day after the payment was made.

Before securing your barangay business clearance, be sure to have all of these requirements in order for your application to run smoothly.

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C H A P T E R 3

SECURING MAYOR’S / BUSINESS PERMIT

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MAYOR’S/ BUSINESS PERMIT


Securing Mayor’s / Business Permit is one of the requirements for every business or com-pany to operate in the Philippines. Local Govern-ment Units (LGUs) can be cities or municipalities. They have different procedures in securing a busi-ness permit depending on the ordinance of the city or municipality.









HOW TO SECURE A MAYOR/ BUSINESS PERMIT

Securing a business permit from the Mayor’s Office can only be done after accomplishing two other registrations: (1) The registra-tion of your business with the Department of Trade and Industry or DTI (for single proprietorship) or with the Securities and Exchange Commission or SEC (for partnership or corporation) and (2) securing Barangay Permit / Clearance.


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Requirements1. Certification

•DTI Business Name Certificate (Single Proprietor)

•SEC Articles of Partner-ship (Partnership)

•SEC Certificate of In-corporation (Corporation)

2. Barangay Permit / Clearance

3. Locational Clearance

4. Public Liability Insurance

5. Land Title and Tax Declaration (if you own the place)

6. Contract of Lease (if rent the place)

7. Community Tax Certificate (CTC) or Cedula

8. Authorization Letter of owner with ID

9. Sketch of Location

10. Occupancy Permit

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PROCEDURESTEP 1: Application for Locational ClearanceBefore filing your application in the Business Permits and Licensing Of-

fice or (BPLO)

You must first secure the Locational Clearance. How? Ask for the appli-cation form at Zoning Division 5th Floor, Old Building of Makati City Hall and have it notarized. The following are requirements in securing it

a. Photocopy of DTI or SEC Documents

b. Photocopy of Barangay Clearance

c. Contract of Lease/Land Title

d. Sketch of the Location

e. Photocopy of Occupancy Permit

f. Authorization Letter from the Owner

File your application at 5th Floor, Old Building of Makati City Hall (MCH), Zoning Division. Go to the receiving section. Get a queue number. Wait for your turn to be called. Someone will assess if your application is for proc-essing or for inspection.

oIf your application is for processing clearance will be release after 3 working days.

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oIf your application is for inspection clearance will be release after 5 working days.

STEP 2: Assessment of Fees After securing your

Locational Clearance, you can now go to the BPLO at the ground floor of the new building of MCH. Ask for the applica-tion form at BPLO win-dows. Fill it up and have it notarized. The following are the requirements in se-curing it:

a. Requirements A to C in Step 1.

b. Locational Clearance

c. Public Liability Insurance

Submit your application to the BPLO assessor. He/She will then as-sess how much your fees will be. After the assessment, go to the BPLO of-ficer for the signing of your assessment.

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STEP 3: Submission Submit your application and assessment to the receiving section of

the BPLO. He/She will receive your application, and in return the BPLO staff will give your billing assessment / payment. You can process the pay-ment the day after the BPLO turned over your application to the cashier’s office.

STEP 4: Payment Go to the Cashier’s Office located at the Ground Floor of the new

building of MCH. The available modes of payment are through the follow-ing:

• Cash

• Managers Check - payable to Makati City Treasurer

STEP 5: Fire Permit After the payment go to the

assigned Fire Department person-nel located at the lobby of new building of the MCH for the issu-ance of permit and then present your paid application.

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STEP 6: Sanitary Permit Go to the 7th floor Sanitary Division of the new building of MCH. Sub-

mit your paid application. Wait for 15 to 30 min-utes for the release of the temporary sanitary permit.

Issuance of Sanitary Permit will take place af-ter completing these:

•Microbiological wa-ter analysis (company office)

•Pest control from accredited pest control operators (sanitary office have the list of their accredited pest control operators).

•Health certificate for all employees

STEP 7: Releasing of Mayor’s / Business Permit Go back to Ground Floor of new building of MCH in the Releasing of

Permits. Submit the paid applications together with the fire and temporary sanitary permit. Wait for 15 to 30 minutes for the issuance of Mayor’s / Business Permit.

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You must first comply with all of the requirements before you can secure a business permit from the Makati City Hall. They will not entertain your application if your requirements are not complete. “Wa-lang Palakasan” sa Makati City Hall (You can’t make use of undue in-fluence at the Makati City Hall).

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C H A P T E R 4

REGISTERING YOUR BUSINESS

WITH THE BIR

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BUREAU OF INTERNAL REVENUE ""Registering your Business with the Bureau of In-ternal Revenue (BIR) is one of the things that a business owner needs to do. To make your busi-ness legal, whether you are an individual (profes-sional, consultant) or a company (single proprie-tor, partnership, corporation) you must complete the whole registration process. Here are some tips that may help you when you register your business with the BIR.





















C H A P T E R 5

THE GREEN LANE UNIT

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GREEN LANE UNITThe Green Lane Unit of the Company Registra-tion and Monitoring Division (CRMD) of the SEC provides this express lane or the Green Lane to expedite the processing of applications of cor-porations and partnerships with basic provi-sions with their Certificate of Incorporation and Articles of Partnership. Applications with complete requirements filed with this Unit will be approved within one (1) day.





















HOW TO REGISTER YOUR BUSI-NESS WITH THE SEC’S GREEN LANE UNIT

Green Lane Documents are used to register your busi-ness with the Securities and Ex-change Commission (SEC) in one day. The packet consists of Articles of Incorporation, By-Laws and Treasurer’s Affida-vit.

PROCEDURE

STEP 1:Verify and reserve your proposed corporate name with the Name Verifica-tion Unit (2nd Floor of the Securities and Exchange Commission Building) or you can reserve name online here: http://iregister.sec.gov.ph/MainServlet

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STEP 2: Buy a Green Lane Form for P800.00 from the SEC Provident Fund Office 3rd Floor, SEC Building.

STEP 3: Present the accomplished Green Lane forms/documents to the Green Lane Unit of the Company Registration and Monitoring Department (CRMD) at the 2nd Floor of SEC Build-ing for pre-processing. This has to be type-written.

STEP 4:Proceed to the Cashier (Ground Floor) for the payment of filing fees.

STEP 5:File the application with the Green Lane Unit for recording, typing of the Certificate of Incorporation/Partnership and final review.

SEC’s Green Lane Unit opened on August 15, 2011.

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STEP 6:The unit will forward your application with the CRMD Director for approval.

STEP 7:The approved documents are encoded and forwarded to the Releasing Unit, Records Division at the Ground Floor. Documents with questions will immediately be sent back to you for correction. You can then file your ap-plication again for approval. Corrections may be done on the spot if there

something needs to be deleted or added to your application.

STEP 8:Claim the Certificate of Incorporation/Partnership at the Re-leasing Unit upon presentation of Offi-cial Receipt of payment of filing fees.

SEC’s Green Lane Unit opened on August 15, 2011. Applications filed before 11:00AM will be approved and release on or before 5pm of the same day, while applications filed after 11:00 AM, will be ap-proved and release not later than 12 noon of the following business day.

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Articles of Incorporation (AOI

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Related Glossary Terms

Index

Chapter 1 - The Securities and Exchange Commission

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Business with the Bureau of Internal Revenue (BIR



Index

Chapter 4 - Bureau of Internal Revenue


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By-Laws



Index



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Corporation



Index



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Partnership



Index



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Securities and Exchange Commission (SEC



Index



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Single proprietor



Index



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Stock Corporation


Index


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The Ultimate Business Registration Guide Book - Revised May 15

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Transcript of The Ultimate Business Registration Guide Book - Revised May 15