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New Business Registration

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1 New Business Registration on Wed Jun 01, 2016 7:12 pm

cb8


Arresto Menor
Ano po ba ang ilalagay ko sa Business Registration Scope kung ang business na itatayo ko ay website development services?

Bali dalawa lang po kami ng partner ko ano po ang mga dapat namin ihanda kung partnership, at kung ok lang po ba na sa bahay namin ang business registration?

Itatanong ko na din po kung may mairerekomenda po kayo na law office or attorney na pwede malapit sa SM fairview para kung kinakailangan sa mga requirements


maraming salamat po

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2 Re: New Business Registration on Wed Jun 01, 2016 7:40 pm

Lunkan


Reclusion Perpetua
Are you talking about
Joint Venture,
all partners in one partnership
all shareholders in one company
all investing in same business, but one is "front" and can sign the documents
or what?

It's registrered where the "Headqiarter" is. When partners are in different countries, then can registrations be needed in each country, depending of laws there.

Some smaller "international" businesses register in HongKong and have "suboffices" - or what it's called - in for instance the Philippines, but I don't know how they do that.

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3 Re: New Business Registration on Thu Jun 02, 2016 11:07 pm

cb8


Arresto Menor
Thanks for the reply I have now clear understanding about my business registration scope

Here's what our position will be in the partnership

We will both work on it and all of the expenses and profit will be divided between my partner
We are only 2 in partnership for the company that we are going to setup

I think it will fall under Joint Venture?

We want to start small and will be using a vacant room storage in front of our house, will that be allowed?

I still have no idea if we still need SEC or not because i have talked to some of my friends one say you only need DTI and the other one says you need DTI and SEC for partnership

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4 Re: New Business Registration on Fri Jun 03, 2016 12:54 am

Lunkan


Reclusion Perpetua
"I think it will fall under Joint Venture?"
I BELIEVE it has to be between two businesses to be JV, and it would be 3 needed instead of 1 registration, permits, book keeping...

"We want to start small and will be using a vacant room storage in front of our house, will that be allowed?"
Oh you will have things more than your computers.
If your foreign partner agree, then you can make a 50-50* partnership or company.

*Asuming at least 60 percent will be sold outside the Philippines, then it will be counted as "export business". If less than 60 percent exported, then foreigners can own max 40 percent.

"I still have no idea if we still need SEC or not"
Sorry I don't remember what Partnerships need
(because personaly I don't like partnerships Smile because then the partner can mess up my share too.)

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5 Re: New Business Registration on Fri Jun 03, 2016 9:14 am

cb8


Arresto Menor
We're both filipino and there will be no foreign partner it will be just between me and my partner who will manage the business

We want to make it 50-50 partnership

Is there a checklist form from SEC or DTI about the process?

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6 Re: New Business Registration on Fri Jun 03, 2016 9:57 am

joshuav


Arresto Menor
Hi cb8!

Go to DTI office nearest you and register your Business Name. You will need to bring Barangay Business clearance as a requirement. Chose among you who will be named in DTI Certificate, or is it the Partnership Name.

Then when the DTI certificate is released, go to your City/Municipal Business licensing Division and register your Business.

When Business/Mayor's Permit is secured, go to your nearest RDO (BIR) office to register your business for tax payment purposes.

After that, prepare Articles of Partnership and proceed to Securities and Exchange Commission (SEC) to have it recorded as a Partnership. You may visit their website for guidelines and download forms necessary to your registration. Better, if you walk-in and ask the man on desk. Beware of fixer, though!

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7 Re: New Business Registration on Fri Jun 03, 2016 7:22 pm

Lunkan


Reclusion Perpetua
cb8 wrote:We're both filipino and there will be no foreign partner it will be just between me and my partner who will manage the business

We want to make it 50-50 partnership

Is there a checklist form from SEC or DTI about the process?
Oh I thought one was foreigner. Then you can do as joshuav said
or you can try to get one BMBE EACH* approved and make a contract between your businesses, because then
1. the other can't put you in extra mess by making stupid agreements partly in your name
2, you BOTH* get the BMBE benefits.

* If I have understood corect, only one can get the income tax benefit per BMBE.

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8 Re: New Business Registration on Fri Jun 03, 2016 10:58 pm

cb8


Arresto Menor
Thanks Lunkan and Joshuav!

I called DTI and SEC this morning, first I called DTI if they process partnership they told me to call SEC since it is a partnership (sounds like I dont need to go to DTI), then I called SEC ali mall satellite office the woman sounds rude answering my inquiries though she told me that I only need to submit the name registration form and the Articles of Partnership that must be notarised

I am now confused based on the process step replied by Joshuav and from the staff of DTI and SEC I talked with this morning

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9 Re: New Business Registration on Mon Jun 13, 2016 10:53 pm

antonio ekis


Arresto Menor
Hi maybe i can help here. I registered my partnership business last year.
1. The name must be "NAME Co." ex. Scola Trading Co. (That's what they advise to us).
2. You must first try to approve your company name online before going to SEC. (Not DTI).
   Try at least 3 approve names. Approved company names online does not mean it will be  
   automatically approve by the SEC.
3. You can buy the articles of partnership in the SEC office and have it notarized.
4. After you get the business name from SEC, you can start processing the other business requirements.

Btw, yes you can start with your home address, that's what i did also.



Last edited by antonio ekis on Mon Jun 13, 2016 10:54 pm; edited 1 time in total (Reason for editing : more info)

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10 Re: New Business Registration on Mon Jun 20, 2016 5:47 pm

cb8


Arresto Menor
Thanks antonio, how much is the articles of partnership you bought from SEC? I thought it was for free to download

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11 Re: New Business Registration Today at 12:08 am

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