business in phil
No.
Procedure
Time to complete
Associated Cost
1.
Conceptualizing the nature of the business
1 day
No charge
2.
Verify and reserve the company name with the Securities and Exchange Commission (SEC)
1 day
Php 40
3.
Preparation of Articles of Incorporation and Corporate By-laws
3 days
No charge
4.
Deposit paid-up capital in the Authorized Agent Bank (AAB) and obtain bank certificate deposit
1 day
No charge
5.
Notarize Articles of Incorporation and treasurer’s affidavit at the notary
1 day
Php 500
6.
Surveying possible plant and office location
5 days
No charge
7.
Register the company with the SEC and receive pre-registered Taxpayer Identification Number (TIN)
3 days
Php 1,926.44 filing fee equivalent to 1/5 of 1% of the authorized capital sock + Php
8.
Obtain barangay clearance
1 day
Php 500
9.
Pay the annual community tax and obtain the Community Tax Certificate (CTC) from the City Treasurer’s Office (CTO)
1 day
Php 500
10.
Obtain the business permit to operate from the BPLO Lipa City
6 days
(Php 2,408.05 business tax + Php 200 mayor’s permit + Php 150 sanitary inspection fee + Php 50 signboard fee + Php 300 business plate + Php 100 QCBRB + Php 545 zoning clearance + Php 1,300 garbage fee + Php 300 FSIC
11.
Buy specials books of account at the bookstore
1 day
Php 400
12.
Apply for Certificate of Registration and TIN at the Bureau of Internal Revenue (BIR)
2 days
Php 100 (certification fee) and Php 15 (documentary stamp tax, in loose form to be attached to Form 2303)
13.
Job posting, job interviews, and hiring of employees
14.
Pay the registration fee and Documentary Stamp Taxes (DST) at the AAB.
1 day
Php 500 registration fee + Php 4,169.97 DST on original issuance of shares of stock. DST on the lease contract is not included in the computation of the cost
15.
Obtain the authority to print receipts and invoices from the BIR
1 day
No charge
16.
Print receipts and invoices at the print shops.
7
Procedure
Time to complete
Associated Cost
1.
Conceptualizing the nature of the business
1 day
No charge
2.
Verify and reserve the company name with the Securities and Exchange Commission (SEC)
1 day
Php 40
3.
Preparation of Articles of Incorporation and Corporate By-laws
3 days
No charge
4.
Deposit paid-up capital in the Authorized Agent Bank (AAB) and obtain bank certificate deposit
1 day
No charge
5.
Notarize Articles of Incorporation and treasurer’s affidavit at the notary
1 day
Php 500
6.
Surveying possible plant and office location
5 days
No charge
7.
Register the company with the SEC and receive pre-registered Taxpayer Identification Number (TIN)
3 days
Php 1,926.44 filing fee equivalent to 1/5 of 1% of the authorized capital sock + Php
8.
Obtain barangay clearance
1 day
Php 500
9.
Pay the annual community tax and obtain the Community Tax Certificate (CTC) from the City Treasurer’s Office (CTO)
1 day
Php 500
10.
Obtain the business permit to operate from the BPLO Lipa City
6 days
(Php 2,408.05 business tax + Php 200 mayor’s permit + Php 150 sanitary inspection fee + Php 50 signboard fee + Php 300 business plate + Php 100 QCBRB + Php 545 zoning clearance + Php 1,300 garbage fee + Php 300 FSIC
11.
Buy specials books of account at the bookstore
1 day
Php 400
12.
Apply for Certificate of Registration and TIN at the Bureau of Internal Revenue (BIR)
2 days
Php 100 (certification fee) and Php 15 (documentary stamp tax, in loose form to be attached to Form 2303)
13.
Job posting, job interviews, and hiring of employees
14.
Pay the registration fee and Documentary Stamp Taxes (DST) at the AAB.
1 day
Php 500 registration fee + Php 4,169.97 DST on original issuance of shares of stock. DST on the lease contract is not included in the computation of the cost
15.
Obtain the authority to print receipts and invoices from the BIR
1 day
No charge
16.
Print receipts and invoices at the print shops.
7