STEPS on how to REGISTER your BUSINESS with Securities and Exchange Commission (SEC):
1. Encode and reserve the name of your company with the Securities and Exchange Commission (SEC)
- Visit www.sec.gov.ph for reservation of company’s name. In any case, the name is not available; lists of proposed company names will prompt. You may either choose from the suggested company names or may encode another name and verify again its availability. Reserved names cost Php40/month for the first 30 days with a maximum cost of Php 120 for 120 days or 4 months. Thus, it is renewable upon expiration of the period.
2. Deposit paid-up capital in the Authorized Agent Bank (AAB) and acquire a bank certificate of deposit
- At least 6.25% of the Authorized Capital Stock of the corporation is required by law for the company to deposit the paid-up capital. Thus, paid-up capital must not be less than Php 5,000.
3. Articles of Incorporation and Treasurer’s Affidavit must be notarized at the certified notary
- As per Section 14 and 15 of the Corporation Code, Articles of Incorporation must be notarized as you file necessary documents with SEC.
4. Register the company with SEC together with the pre-registered Taxpayer Identification Number (TIN)
- These are the following documents needed for SEC registration:
a. Verification slip of company’s name
b. Notarized Articles of Incorporation and by laws
c. Notarized Treasurer’s Affidavit
d. Statements of Assets and Liabilities
e. Bank Certificate of paid-in capital deposit
f. Letter of authority to verify the bank account
g. Registration data sheet with particulars on directors, stockholders, officers etc.
h. Notarized written undertaking to comply with SEC reporting requirements
i. Notarized written undertaking to change corporate name
- The SEC Head Office will ONLY issue for pre-registered TINs provided that company’s Application for Registration (BIR Form No. 1901) at Bureau of Internal Revenue (BIR) has been approved. Thus, the company still needs to continue processing the needed documents at BIR in order to identify applicable tax types, pay the Annual Registration Fee, stamp sales invoices, receipts and books of accounts.
5. Secure a Barangay Clearance
- Herein are the needed requirements presented at your respective barangay to obtain a barangay clearance:
a. Application form (from the barangay)
b. SEC Certificate of Incorporation
c. Approved Articles of Incorporation and by laws
d. Location map / site map
e. Contract of Lease (rent unit) over the corporation’s office or Real Property Tax Clearance or Certificate of No Delinquency (owned unit)
- Thus, clearance is secured at the specified barangay where the business is located. Certain fees and charges will apply at a reasonable rate and within the limits set forth by the Local Government.
6. Pay the Annual Community Tax and secure a Community Tax Certificate (CTC) at City Treasurer’s Office (CTO)
- Two things that a company is charged; a Basic Community Tax and an Additional Community Tax. Basic Community Tax will quantify based on company’s legal documents that is; corporation, partnership and/or association at a rate of Php 500 or less. Additional Community Tax (not to exceed at Php 10,000.00) will quantify based on the assessed value of real property owned by the company in the Philippines at the rate of Php 2.00 per Php 5,000.00 inclusive with its gross receipts, dividends or earnings, and amount derived from business activities in the Philippines during the preceding year.
7. Secure company’s Business Permit from the Business Permits and Licensing Office (BPLO)
- To acquire a business permit, here are some of the needed requirements:
a. Location Clearance
b. Barangay Clearance
c. Fire Safety and Inspection Certificate
d. Sanitary Permits
e. Certificate of Electrical Inspection
f. Mechanical Permit
g. Benefits Clearance (SSS, PHILHEALTH, Pag-Ibig / HDMF) (if needed)
h. and other clearances or certificates needed depending on the nature of business
- Take note that certain fees will apply depending on the nature of business and land area occupied by the proposed corporation.
8. Buy precise books of account at bookstores nationwide
- The books of accounts are sold at any bookstores nationwide. They consist of four books (general journal, disbursements account, cash receipts account, and ledger). These special books are required for registration with the BIR. However, if the company has a Computerized Accounting System (CAS), the company has an option to have CAS registered under the procedures of BIR Revenue Memorandum Order Nos. 21-2000 and 29-2002. Thus, the BIR Computerized System Evaluators will inspect all required documents and evaluate the company’s CAS within 30 days from receipt of BIR application (BIR form no. 1900).
9. Pay the Annual Registration Form (BIR Form No. 0605) and Documentary Stamps Taxes (DST) at any respective Authorized Agent Bank (AAB) or at any Regional District Officer (RDO) of the company’s address
- With document, Original Issue of Shares of Stock WITH par value, it will be 1% of the unit or Php 2.00 per Php 200.00 or fraction thereof. If document is Original Issue of Shares of Stock WITHOUT par value, , it will be 1% of the unit or Php 2.00 per Php 200.00 or fraction thereof based on actual consideration.
10. File for Certificate of Registration (BIR Form No. 2303), bear a TIN at Bureau of Internal Revenue (BIR)
- Duly required documents for COR application with the BIR are as follows;
a. Duly accomplished and filled out Application for Registration for Corporations (BIR Form No. 1903)
b. Receipt and Payment Form of the Annual Registration Fee (BIR Form No. 0605). Thus, the company needs to pay the annual registration fee at Php 500.00 at any accredited banks or at any respective Regional District Officer (RDO) of the company’s address.
c. SEC Certification of Incorporation
d. Articles of Incorporation and by-laws
e. Contract of Lease (with receipt and payment form of BIR Form No. 2000 as proof of payment of Documentary Stamp Tax Declaration Return on the contract of lease)
f. Receipt and Payment Form of Documentary Stamp Tax Declaration Return (BIR Form No. 2000) on the original issuance of shares
g. Mayor’s Permit or Business Permit Form (duly stamped received by the Business Permits and Licensing Office (BPLO)
11. Secure an Authority to Print Receipts and Invoices (BIR Form No. 1906) with BIR
- Documentary Requirements are as follows:
a. Accomplished BIR Form No. 1906
b. Job Order
c. Final and clear sample of receipts and invoices
d. Photocopy of Certificate of Registration (BIR Form No. 2303) or paid Annual Registration Fee (BIR Form No. 0605)
e. Permit to use Loose-Leaf (if applicable)
f. Printers’ Certificate of Delivery (PCD)
12. Print receipts and invoices at any selected printing press
- The minimum printing of receipts and invoices is 25 booklets. The rate will differ based on the specification of its design, kind (duplicate, black print or carbonless) and size of your chosen sample.
- Keep and file Printers’ Certificate of Delivery (PCD) and Authority to Print (ATP) copy and duly received and issued by BIR for audit purposes.
13. Special Books of Accounts and Printers’ Certificate of Delivery (PCD)must be stamped by the BIR
- Within 30 days from issuance of Authority to Print (ATP), the printer/supplier will prepare a Printers’ Certificate of Delivery (PCD) in 5 copies and submit to Regional District Officer (RDO) where the place of business is located. Thus, the company also needs to submit these documents:
a. All required special books of accounts
b. VAT registration certificate (if applicable)
c. SEC Registration Form
d. BIR Form No. W-5
e. Certified photocopy of ATP
f. Taxpayer-user’s sworn statement with detailed responsibilities and commitments of which must be notarized
14. Register the company with the known government benefits (SSS, PhilHealth, Pag-ibig)
a. To register with SSS, here are the required documents:
· Employer Registration Form (SSS Form R-1)
· Employment report (SSS Form R-1A)
· List of employees with specified birth dates, positions, monthly salary and date of employment
· NSO original and photocopy of employees birth certificates
· Articles of Incorporation (original and photocopy must be presented to the SSS for authentication purposes), by-laws and SEC Registration
· May refer for the details through this link https://www.sss.gov.ph/sss/index2.jsp?secid=109&cat=2&pg=null
- Upon submission of documents, SSS Officers will release the SSS employer and employees numbers. For employees who don’t have SS Numbers, they are obliged to attend an SSS training seminar after registration.
b. To register with Philippine Health Insurance Company (PhilHealth), here are the required documents to be submitted at any Philhealth Office:
· Employer Data Record (Philhealth Form ER1) in duplicate
· Report of employee-members (PHilhealth Form ER2)
· SEC Registration
· BIR Registration
· Copy of Business Permit/Mayor’s Permit
· May refer for the details through this link http://www.philhealth.gov.ph/partners/employers/registration.html
- After processing, the company will be issued with PhilHealth Employer Number (PEN) and the Certificate of Registration, PhilHealth Identification Number (PIN) and Member Data Record (MDR) of registered employees. Once the PEN is received, the company is required to display the Certificate of Registration at their respective office.
c. To register with Home Development Mutual Fund (Pag-Ibig), here are also its needed documents:
· Employer’s Data Form (EDF [FPF040])
· Specimen Signature Form (SSF [FPF170])
· Copy of SEC Certificate of Incorporation
· Copy of Approved Articles of Incorporation and by-laws
· Board Resolution or Secretary’s Certificate signed by the designated Authorized Representative
· May refer for the details through this link http://www.pagibigfund.gov.ph/benpromembership.aspx
- Once complete documents are submitted with payment of the first contribution to the fund, PAG-IBIG will issue HDMF number and the HDMF Certificate of Registration which needs to be placed as well at the respective office.
1. Encode and reserve the name of your company with the Securities and Exchange Commission (SEC)
- Visit www.sec.gov.ph for reservation of company’s name. In any case, the name is not available; lists of proposed company names will prompt. You may either choose from the suggested company names or may encode another name and verify again its availability. Reserved names cost Php40/month for the first 30 days with a maximum cost of Php 120 for 120 days or 4 months. Thus, it is renewable upon expiration of the period.
2. Deposit paid-up capital in the Authorized Agent Bank (AAB) and acquire a bank certificate of deposit
- At least 6.25% of the Authorized Capital Stock of the corporation is required by law for the company to deposit the paid-up capital. Thus, paid-up capital must not be less than Php 5,000.
3. Articles of Incorporation and Treasurer’s Affidavit must be notarized at the certified notary
- As per Section 14 and 15 of the Corporation Code, Articles of Incorporation must be notarized as you file necessary documents with SEC.
4. Register the company with SEC together with the pre-registered Taxpayer Identification Number (TIN)
- These are the following documents needed for SEC registration:
a. Verification slip of company’s name
b. Notarized Articles of Incorporation and by laws
c. Notarized Treasurer’s Affidavit
d. Statements of Assets and Liabilities
e. Bank Certificate of paid-in capital deposit
f. Letter of authority to verify the bank account
g. Registration data sheet with particulars on directors, stockholders, officers etc.
h. Notarized written undertaking to comply with SEC reporting requirements
i. Notarized written undertaking to change corporate name
- The SEC Head Office will ONLY issue for pre-registered TINs provided that company’s Application for Registration (BIR Form No. 1901) at Bureau of Internal Revenue (BIR) has been approved. Thus, the company still needs to continue processing the needed documents at BIR in order to identify applicable tax types, pay the Annual Registration Fee, stamp sales invoices, receipts and books of accounts.
5. Secure a Barangay Clearance
- Herein are the needed requirements presented at your respective barangay to obtain a barangay clearance:
a. Application form (from the barangay)
b. SEC Certificate of Incorporation
c. Approved Articles of Incorporation and by laws
d. Location map / site map
e. Contract of Lease (rent unit) over the corporation’s office or Real Property Tax Clearance or Certificate of No Delinquency (owned unit)
- Thus, clearance is secured at the specified barangay where the business is located. Certain fees and charges will apply at a reasonable rate and within the limits set forth by the Local Government.
6. Pay the Annual Community Tax and secure a Community Tax Certificate (CTC) at City Treasurer’s Office (CTO)
- Two things that a company is charged; a Basic Community Tax and an Additional Community Tax. Basic Community Tax will quantify based on company’s legal documents that is; corporation, partnership and/or association at a rate of Php 500 or less. Additional Community Tax (not to exceed at Php 10,000.00) will quantify based on the assessed value of real property owned by the company in the Philippines at the rate of Php 2.00 per Php 5,000.00 inclusive with its gross receipts, dividends or earnings, and amount derived from business activities in the Philippines during the preceding year.
7. Secure company’s Business Permit from the Business Permits and Licensing Office (BPLO)
- To acquire a business permit, here are some of the needed requirements:
a. Location Clearance
b. Barangay Clearance
c. Fire Safety and Inspection Certificate
d. Sanitary Permits
e. Certificate of Electrical Inspection
f. Mechanical Permit
g. Benefits Clearance (SSS, PHILHEALTH, Pag-Ibig / HDMF) (if needed)
h. and other clearances or certificates needed depending on the nature of business
- Take note that certain fees will apply depending on the nature of business and land area occupied by the proposed corporation.
8. Buy precise books of account at bookstores nationwide
- The books of accounts are sold at any bookstores nationwide. They consist of four books (general journal, disbursements account, cash receipts account, and ledger). These special books are required for registration with the BIR. However, if the company has a Computerized Accounting System (CAS), the company has an option to have CAS registered under the procedures of BIR Revenue Memorandum Order Nos. 21-2000 and 29-2002. Thus, the BIR Computerized System Evaluators will inspect all required documents and evaluate the company’s CAS within 30 days from receipt of BIR application (BIR form no. 1900).
9. Pay the Annual Registration Form (BIR Form No. 0605) and Documentary Stamps Taxes (DST) at any respective Authorized Agent Bank (AAB) or at any Regional District Officer (RDO) of the company’s address
- With document, Original Issue of Shares of Stock WITH par value, it will be 1% of the unit or Php 2.00 per Php 200.00 or fraction thereof. If document is Original Issue of Shares of Stock WITHOUT par value, , it will be 1% of the unit or Php 2.00 per Php 200.00 or fraction thereof based on actual consideration.
10. File for Certificate of Registration (BIR Form No. 2303), bear a TIN at Bureau of Internal Revenue (BIR)
- Duly required documents for COR application with the BIR are as follows;
a. Duly accomplished and filled out Application for Registration for Corporations (BIR Form No. 1903)
b. Receipt and Payment Form of the Annual Registration Fee (BIR Form No. 0605). Thus, the company needs to pay the annual registration fee at Php 500.00 at any accredited banks or at any respective Regional District Officer (RDO) of the company’s address.
c. SEC Certification of Incorporation
d. Articles of Incorporation and by-laws
e. Contract of Lease (with receipt and payment form of BIR Form No. 2000 as proof of payment of Documentary Stamp Tax Declaration Return on the contract of lease)
f. Receipt and Payment Form of Documentary Stamp Tax Declaration Return (BIR Form No. 2000) on the original issuance of shares
g. Mayor’s Permit or Business Permit Form (duly stamped received by the Business Permits and Licensing Office (BPLO)
11. Secure an Authority to Print Receipts and Invoices (BIR Form No. 1906) with BIR
- Documentary Requirements are as follows:
a. Accomplished BIR Form No. 1906
b. Job Order
c. Final and clear sample of receipts and invoices
d. Photocopy of Certificate of Registration (BIR Form No. 2303) or paid Annual Registration Fee (BIR Form No. 0605)
e. Permit to use Loose-Leaf (if applicable)
f. Printers’ Certificate of Delivery (PCD)
12. Print receipts and invoices at any selected printing press
- The minimum printing of receipts and invoices is 25 booklets. The rate will differ based on the specification of its design, kind (duplicate, black print or carbonless) and size of your chosen sample.
- Keep and file Printers’ Certificate of Delivery (PCD) and Authority to Print (ATP) copy and duly received and issued by BIR for audit purposes.
13. Special Books of Accounts and Printers’ Certificate of Delivery (PCD)must be stamped by the BIR
- Within 30 days from issuance of Authority to Print (ATP), the printer/supplier will prepare a Printers’ Certificate of Delivery (PCD) in 5 copies and submit to Regional District Officer (RDO) where the place of business is located. Thus, the company also needs to submit these documents:
a. All required special books of accounts
b. VAT registration certificate (if applicable)
c. SEC Registration Form
d. BIR Form No. W-5
e. Certified photocopy of ATP
f. Taxpayer-user’s sworn statement with detailed responsibilities and commitments of which must be notarized
14. Register the company with the known government benefits (SSS, PhilHealth, Pag-ibig)
a. To register with SSS, here are the required documents:
· Employer Registration Form (SSS Form R-1)
· Employment report (SSS Form R-1A)
· List of employees with specified birth dates, positions, monthly salary and date of employment
· NSO original and photocopy of employees birth certificates
· Articles of Incorporation (original and photocopy must be presented to the SSS for authentication purposes), by-laws and SEC Registration
· May refer for the details through this link https://www.sss.gov.ph/sss/index2.jsp?secid=109&cat=2&pg=null
- Upon submission of documents, SSS Officers will release the SSS employer and employees numbers. For employees who don’t have SS Numbers, they are obliged to attend an SSS training seminar after registration.
b. To register with Philippine Health Insurance Company (PhilHealth), here are the required documents to be submitted at any Philhealth Office:
· Employer Data Record (Philhealth Form ER1) in duplicate
· Report of employee-members (PHilhealth Form ER2)
· SEC Registration
· BIR Registration
· Copy of Business Permit/Mayor’s Permit
· May refer for the details through this link http://www.philhealth.gov.ph/partners/employers/registration.html
- After processing, the company will be issued with PhilHealth Employer Number (PEN) and the Certificate of Registration, PhilHealth Identification Number (PIN) and Member Data Record (MDR) of registered employees. Once the PEN is received, the company is required to display the Certificate of Registration at their respective office.
c. To register with Home Development Mutual Fund (Pag-Ibig), here are also its needed documents:
· Employer’s Data Form (EDF [FPF040])
· Specimen Signature Form (SSF [FPF170])
· Copy of SEC Certificate of Incorporation
· Copy of Approved Articles of Incorporation and by-laws
· Board Resolution or Secretary’s Certificate signed by the designated Authorized Representative
· May refer for the details through this link http://www.pagibigfund.gov.ph/benpromembership.aspx
- Once complete documents are submitted with payment of the first contribution to the fund, PAG-IBIG will issue HDMF number and the HDMF Certificate of Registration which needs to be placed as well at the respective office.
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