Having a Corporation & Company Registration

Author Information

Carmine Lombardi has 14 Published Articles

United States of America,
SA,
Raito,
Vicolo Cieco Fondachetto, 95,

Having a Corporation & Company Registration - Philippines

Posted On : Dec-01-2011 | seen (620) times | Article Word Count : 601 |

This post gives a quick glance of company registration in Philippines. The processes, time of completion and a projected cost for each step is supplied. Other steps for foreign investors may well best be left to companies focusing on business consulting in Philippines.

Each country has unique laws and procedures for setting up a company. In addition, different forms of businesses including proprietorship, partnership and corporation likewise have their own procedures for creation. You can use the process below or hire a company who offers business consulting Philippines to help you create a company.

Step 1 Company Name

Step one is to choose a company name. Be sure to have two other options in mind. Go to the Securities and Exchange Commission (Philippines) website to input your option for the company name and validate that it hasn't been used. It is free to use this system.

When you find a name get it. There is a small fee due within 30 and up to 120 days and must be renewed upon expiry should you neglect to pay the expected amount.

Step 2 Show them the money

Deposit accepted capital stock of the corporation to an authorized bank and secure a certificate of deposit. Some banks charge fees.. This normally takes a day to finish

Step 3 Notarize Articles of Incorporation

Get a paper copy of the articles of incorporation from the SEC. It's thick and may require time to fill up. Once you have filled-in the details notarize it. Expect to pay a fee to notarize and also for the paper document of the articles of incorporation.

Step 4 Register

Company Registration in Philippines takes a few days and lots of paperwork. Bring all your documents for them to verify things are in order. Signatures may be required so be sure directors and officers are present. There are fees so be well prepared

Step 5 Clearance & Tax Certificate

Get a 'barangay clearance' from the area where the company will be based. Then visit the City Treasurer's office and pay the annual community tax to get the tax certificate. You could find these in the local City Hall of the area. Count on paying fees for both.

Step 6 Business Permit

This could take a week or two. According to the nature of your business the Business Permits & Licensing Office will execute specific checks. Again there's a charge.

Step 7 Accounting & Taxes

You will need accounting books or an electronic accounting system to be tested by the Bureau of Internal Revenue (BIR). If authorized, obtain a certificate of Registration and Tax Identification Number at the BIR. Have your accountant and tax officer there to respond to your questions on what kinds of taxes you will pay.

Step 8 More fees and Printing Invoices

Spend the money for registration fee and documentary stamp taxes at the bank in which you deposited your paid up capital. Then head back to the BIR and get acceptance for the format of your receipts. Print booklets of the receipts and have them stamped by the BIR.

Step 9 Register with SSS and PhilHealth

Head to the Social Security System to deliver the requirements, be sure you carry the Articles of incorporation with you. Then visit the Philippine Health Insurance Company and register with them. Carry your BIR registration and SEC registration. In fact always carry all the papers with you.

If you find company registration in Philippines too complex, then hire a business to aid you. They're more informed about the laws and fees of the government.

Business Consulting in Philippines is quite helpful particularly to foreign investors who'll also must take care of getting a business visa.

Re-Publish this Article

<h1>Having a Corporation & Company Registration - Philippines</h1> Author: <a href='http://www.articleseen.com/profile_Carmine Lombardi.aspx'>Carmine Lombardi</a> Each country has unique laws and procedures for setting up a company. In addition, different forms of businesses including proprietorship, partnership and corporation likewise have their own procedures for creation. You can use the process below or hire a company who offers business consulting Philippines to help you create a company.

Step 1 Company Name

Step one is to choose a company name. Be sure to have two other options in mind. Go to the Securities and Exchange Commission (Philippines) website to input your option for the company name and validate that it hasn't been used. It is free to use this system.

When you find a name get it. There is a small fee due within 30 and up to 120 days and must be renewed upon expiry should you neglect to pay the expected amount.

Step 2 Show them the money

Deposit accepted capital stock of the corporation to an authorized bank and secure a certificate of deposit. Some banks charge fees..  This normally takes a day to finish

Step 3 Notarize Articles of Incorporation

Get a paper copy of the articles of incorporation from the SEC. It's thick and may require time to fill up. Once you have filled-in the details notarize it. Expect to pay a fee to notarize and also for the paper document of the articles of incorporation.

Step 4 Register

Company Registration in Philippines takes a few days and lots of paperwork. Bring all your documents for them to verify things are in order. Signatures may be required so be sure directors and officers are present. There are fees so be well prepared

Step 5 Clearance & Tax Certificate

Get a 'barangay clearance' from the area where the company will be based. Then visit the City Treasurer's office and pay the annual community tax to get the tax certificate. You could find these in the local City Hall of the area. Count on paying fees for both.

Step 6 Business Permit

This could take a week or two. According to the nature of your business the Business Permits & Licensing Office will execute specific checks. Again there's a charge.

Step 7 Accounting & Taxes

You will need accounting books or an electronic accounting system to be tested by the Bureau of Internal Revenue (BIR). If authorized, obtain a certificate of Registration and Tax Identification Number at the BIR. Have your accountant and tax officer there to respond to your questions on what kinds of taxes you will pay.

Step 8 More fees and Printing Invoices

Spend the money for registration fee and documentary stamp taxes at the bank in which you deposited your paid up capital. Then head back to the BIR and get acceptance for the format of your receipts. Print booklets of the receipts and have them stamped by the BIR.

Step 9 Register with SSS and PhilHealth

Head to the Social Security System to deliver the requirements, be sure you carry the Articles of incorporation with you. Then visit the Philippine Health Insurance Company and register with them. Carry your BIR registration and SEC registration. In fact always carry all the papers with you.

If you find company registration in Philippines too complex, then hire a business to aid you. They're more informed about the laws and fees of the government.

Business Consulting in Philippines is quite helpful particularly to foreign investors who'll also must take care of getting a business visa.
About the Author: 
Carmine Lombardi is a business consultant who specializes in <a rel="nofollow" href="http://www.tripleiconsulting.com/">company registration Philippines</a>. For additional information on how these services will help you set up shop in the Philippines, please inform yourself about <a rel="nofollow" href="http://www.tripleiconsulting.com/">business consulting Philippines</a>. Article Source: <a href='http://www.articleseen.com/Article_Having-a-Corporation--Company-Registration-Philippines_112684.aspx'> http://www.articleseen.com/Article_Having a Corporation & Company Registration - Philippines_112684.aspx</a>

Article Source : http://www.articleseen.com/Article_Having a Corporation & Company Registration - Philippines_112684.aspx

Author Resource :

Carmine Lombardi is a business consultant who specializes in company registration Philippines. For additional information on how these services will help you set up shop in the Philippines, please inform yourself about business consulting Philippines.

Keywords : company registration Philippines, business consulting Philippines ,

Category : Business : Small Business

Print this Article Send to Friend