Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

Business Transfer of Ownership

View previous topic View next topic Go down  Message [Page 1 of 1]

1 Business Transfer of Ownership on Sun Mar 17, 2013 8:38 pm

spurb


Arresto Menor
Hi. I want to transfer ownership of my business in the Philippines to someone else because I don't want to put in anymore money at wala na din naman ako diyan. It's a sole proprietor and I plan to just transfer it to her kahit walang bayad. I want it immediate so what should I do? Deed of Sale Lang ba to?

View user profile

2 Re: Business Transfer of Ownership on Mon Mar 18, 2013 3:45 pm

tsi ming choi


Reclusion Perpetua
Since it is only managed by a sole proprietorship, then i would suggest to file/submit a letter of intent for closure of business to the following government agencies:

1. City/Municipal Hall, the one who issued business permit.
2. Business bureau
3. BIR

Usually, yung 3 agencies na yan eh nasa isang lugar lang yan sa city/municipal hall, due to their one-stop shop policy. Para sa ganun, ma relieve ka for any possible future liabilities lalo na sa BIR.

Thereafter, let that someone open his/her new business bearing new name with the same nature as yours.

View user profile

3 Re: Business Transfer of Ownership on Mon Mar 18, 2013 8:42 pm

spurb


Arresto Menor
What is the business bureau? DTI? Also, na pedeng transfer ko na Lang sa kanya lahat instead of her paying for fees again?

View user profile

4 Re: Business Transfer of Ownership on Tue Mar 19, 2013 10:00 am

tsi ming choi


Reclusion Perpetua
Business bureau is different from DTI, anyway, the above mentioned opinion is only my idea to clean up your government records, since you intend to cease the operation/management of your business and transfer it to another person, and on my second thought, perhaps a deed of sale would suffice.

View user profile

Sponsored content


View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum