Doing business in the Philippines is relatively easy. The first step is to choose your business vehicle. In doing business, there are various forms of business entities to consider, the most common forms of which are 1) single proprietorships, 2) corporations, and c) partnerships. In a nutshell, single proprietorships are registered with the Department of Trade & Industry (DTI) while partnerships and corporations are registered with the Securities & Exchange Commission (SEC).
After a business vehicle is registered, the next step is to apply for a business permit. This is done in the local government unit where the business will be conducted. Thereafter, for taxation purposes, the business must also be registered with the Bureau of Internal Revenue (BIR).
For labor purposes, the company must also register itself and its employees with the Social Security System (SSS), Philhealth and Pag-ibig.
As can be gleaned above, setting up a business is quite simple to do. However, it must be borne in mind that there are certain businesses which are regulated by the government. Hence, such businesses will have to apply for the necessary authority and licenses to engage in such activity.
Let our Philippine lawyers, attorneys and legal staff help you do business in the Philippines. For further inquiries, you may seek legal assistance by e-mailing us at firstname.lastname@example.org
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Nicolas & De Vega Law Offices is a full service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 4706126, +632 4706130, +632 4016392.