5 Business Licenses and Permits in the Philippines You Might Need
November 29, 2021
What are some business licenses and permits in the Philippines you might need?
- Business Owner’s TIN
- Barangay Clearance
- DTI Business Name Registration Certificate
- Mayor’s Permit
- SEC Registration Certificate
Let’s say everything’s all set for your shiny new business. You have your capital, you have your resources, you might even have employees already. Your business plan is foolproof. You would want to officially launch your business right away, but before you can do that, there are some business licenses and permits in the Philippines that you need.
The requirements will vary depending on the type of business you have, so make sure you identify that first. Then, it’s time to secure all the paperwork you need. Keep reading to find out what they are!
Business Owner’s TIN
As a business owner, you should have a tax identification number (TIN) from the Bureau of Internal Revenue (BIR). This is a requirement to get the licenses and registrations that you need, so you should secure your TIN first. When you submit your tax statement at the end of each fiscal year, you’ll use this TIN.
Barangay Clearance
Having a barangay clearance is proof that your business follows the requirements and policies of the barangay. Wherever your business is situated, you need to secure a barangay permit to operate.
Note that you would need to submit a Community Tax Certificate (CTC) or Cedula, fill out the accomplished form, present a government-issued ID, and pay a small fee. Requirements may change, so make sure to consult with your barangay about all documents that you need before applying for this clearance.
DTI Business Name Registration Certificate
Businesses need to register their name to the Department of Trade and Industry (DTI) to use it for business purposes. The registration certificate will be valid for five years, and it protects your business name from being used by others.
To apply, you need to be a Filipino citizen and at least 18 years of age. Remember to keep a list of business names in case the one you have is already taken. Also, take note that certain businesses, such as dental clinics and hospitals, will have additional requirements.
Mayor’s Permit
Another important permit to acquire is a business permit from the mayor’s office. This proves that your business is allowed to operate and complies with the city’s ordinance.
Depending on the city, you would need to have secured the other permits before getting this one. Again, try to inquire at the mayor’s office before starting the registration process to confirm. This permit needs to undergo annual renewal in order to remain valid.
SEC Registration Certificate
Businesses that are classified as corporations or partnerships must secure a registration certification from the Securities and Exchange Commission (SEC).
To register, you need to submit a name registration, payment form, notarized articles of incorporation and by-laws, treasurer’s affidavit, bank certificate of deposit, and an accomplished SEC form. They now have an online Company Registration System that you may use.
Key Takeaway
These are only some of the business licenses and permits in the Philippines that you might need. The ones listed in this article apply to almost all types of businesses, so here is a good place to start. But try to expect different and additional requirements that are specific to the nature of your trade or company.
If you need some more help in starting your business, we can assist you! Benito T. Keh is an entrepreneur who understands the ins and outs of the business, and he’s willing to provide you with invaluable advice you need before starting one. Get in contact with him by sending a message through this link!
