So now, you have an idea of what kind of business you want. You have your business plan and everything. So, what’s next?
You register your business.
You have 3 options
1. Sole proprietorship – meaning one owner
For Sole Proprietorship you first need to register with DTI.
Come up with your a couple of business names, and check with DTI for their availability. ( you can do that through their website at DTI.)
Once you get your business name approved that its available. You can either pay thru their website or directly to any of their offices.
Remember to choose your type – national, regional or barangay.
Once you get your DTI registration, proceed to the Barangay Hall for the area of where you’re going to put your office.
Before applying for tthe Barangay permit you need to have a finalized contract of lease with your lessor since it will be needed for the following steps.
Once your done with your Barangay Permit, next step is the Mayors or Business Permit which you have to apply for from the Municipality or City your office is located. Dont forget to bring your DTI and Barangay permit when you go apply for your business permit.
For complete list of things needed – visit your Municipal Or City hall. ( it’ll take a couple of days for the permit to get approved.)
Once you get your business license, you can now proceed to your local BIR office and apply for your TIN and your receipts. Be sure you know based on your business plan if you want to apply for non-vat or vat. ( To be sure – consult your accountant about the Pro’s and Con’s)
Again, it’ll take a couple of days for your BIR permit to be approved and a couple of weeks for your receipts to be printed.
Once you’ve done that, you’re ready to start!
For partnership and corporations -Business application is done through SEC.