Are you legal? (Legal Documentation)
If you want to start a business, you have to take care of the legal documentations needed. There are different government sectors you need to go to. But first you have to decide what type of business you are going to put up. The documents you need will depend on it.
If you are going to put a Partnership or Corporation, it is required to be registered with the Securities and Exchange Commission (SEC). For Single Proprietorship you do not need to register it with SEC. You will also need local permits from your Local Government Unit (LGU).
These are the basic requirements when starting a business:
- Securities and Exchange Commission (SEC) registration – for partnership and corporation
- Department of Trade and Industry (DTI) registration – for your business trade name (BTR)
- Mayor’s business permit – for operating in the city or municipality and for local taxes
- Bureau of Internal Revenue (BIR) registration – for TIN, receipts, taxes, etc.
- Social Security System (SSS), PhilHealth, and PAGIBIG Fund registration – these three are required by the government
There are other special documents needed depending on the industry your business is in. For now, focus on the basic requirements.
Contact Sage Solutions Philippines for business consultancy services. Just follow the link: https://www.sagesolution.com.ph/contact/