Starting a business in the Philippines: Business Registration Requirements

Newly formed foreign and domestic corporations doing business in the Philippines must comply with the following obligations in registering with various government agencies:

1. Verify the availability of the company name with the Securities and Exchange Commission (SEC)
2. Obtain bank certificate of deposit of the paid-in capital from the Authorized Agent Bank (AAB) and in most cases a certificate of inward remittance
3. Register the company with the SEC and receive pre-registered taxpayer’s identification number (TIN)
4. Obtain the community tax certificate (CTC) from the City Treasurer’s Office (CTO)
5. Obtain Barangay (neigborhood) clearance
6. Obtain the business permit to operate at the local Business Promotion and Development Office (BPDO)
7. Receive inspection from the BPDO
8. Buy special books of account at a local bookstore
9. Register with the Bureau of Internal Revenue (BIR)
10. Pay the documentary stamp taxes (DST) on the issuance of authorized capital stock
11. Obtain the authority to print receipts and invoices from the BIR
12. Print receipts and invoices
13. Have receipts, invoices and books of accounts stamped by the BIR
14. Register with the Social Security System (SSS) as an employer
15. Register with the Philippines Health Insurance Company (PhilHealth)