The Process of Registering Your Business in the Philippines

✅The registration process differs depending on the business structure: sole proprietorship, partnership, or corporation.

💼Sole proprietorship offers simplicity and full control, but carries the highest personal liability.

🤝Partnerships allow for shared control and limited liability, making it ideal for two or more individuals.

🏢Corporations provide separate legal entity status, attracting investors and offering limited personal liability.

💲Corporations have higher registration costs and more complex paperwork than sole proprietorships or partnerships.

What's the difference between a business name and a brand name?

—A business name is registered with the DTI, while a brand name can be registered with the Intellectual Property Office.

What are the advantages of registering as a corporation?

—Corporations offer limited personal liability, attract investors, and provide a more professional image.

Is it possible to switch business structures after registration?

—Yes, it is possible, but there may be legal and administrative procedures involved.

What are the requirements for registering a partnership?

—Partnerships require at least two individuals and may have general or limited liability based on the partnership agreement.

What are the costs involved in registering a business?

—The costs depend on the territorial coverage and range from 200 to 2,030 pesos for sole proprietorships.

09:59The registration process for a business in the Philippines varies depending on the chosen structure: sole proprietorship, partnership, or corporation.

11:40Sole proprietorships offer simplicity and full control but come with the highest personal liability. Partnerships allow shared control and limited liability, making them ideal for two or more individuals. Corporations provide separate legal entity status, attract investors, and offer limited personal liability.

13:11The registration process for a sole proprietorship is relatively easy and can be done online, with a minimal cost of around 2,030 pesos for national coverage.

17:20Partnerships and corporations require registration with the SEC and have more complex paperwork and higher costs than sole proprietorships. Partnerships allow general or limited liability, while corporations offer limited personal liability, attract investors, and provide a more professional image.

25:00Business owners who have experience with all three structures recommend considering the nature of your business, liability concerns, and investment opportunities when choosing a structure. It's important to consult with professionals and understand the legal and administrative requirements involved in the registration process.