Registering a business in the Philippines can be tedious and takes a lot of time, but with GL Inc., we’ll lift this burden off your shoulder to ensure that your business starts as early as possible. Our team of experienced CPAs will focus on registering your business to the proper government agencies.
Securities and Exchange Commission (SEC)
If you’re registering a corporation, you must register your business with the Securities and Exchange Commission (SEC). The SEC is the government agency responsible for securities laws and regulating the securities industry in the Philippines. The commission has the jurisdiction and supervision over all corporation: grantees of primary franchises and permit by the government. The certificate of registration with the SEC is a must for a business to have a license to operate. It is also a pre-requisite for the Bureau of Internal Revenue and Mayor’s office’s registration and license.
Local Government Unit
The next step is getting the Mayor’s Permit at your Local Government Unit (LGU), which either the City Hall for cities or the Municipal Hall for towns and municipalities. It is proof that you complied with the city’s ordinances and standards such as sanitary, fire and safety, and others
Bureau of Internal Revenue (BIR)
Next, we’ll obtain your BIR Certificate of Registration. The certificate shows your Business Name, TIN Number, Line of Business, and the taxes that you must remit to the BIR. Afterward, the BIR will print your official receipts and invoices. Your book of accounts will also be registered and stamped with the BIR seal.
Social Security System (SSS)
The employer is required to register their business and employees with the SSS. An employer who does not report employees is violating the Social Security Law. As an employer, you must remit your employer’s contribution to the agency for the benefits of your employees. The Social Security System aims to provide protection for the SSS Members against socially recognized hazard conditions, such as sickness, disability, maternity, old age, and death, or other such contingencies not stated but resulted in the loss of income or results of a financial burden.
Source: Republic Act 1161 – Social Security Law
Philippine Health Insurance Corporation (Philhealth)
The employer is required to register their employees with PhilHealth and remit their share of contribution to the agency. Aside from being mandatory, this is also to ensure that employees are covered by health insurance that will aid them in hospitalization costs and other health care needs.
Source: Republic Act 9241 – an act instituting a National Health Insurance Program for all Filipinos and establishing the Philippine Health Insurance Corporation for the purpose.
Home Development Mutual Fund (Pag-IBIG Fund)
Like SSS and PhilHealth, the employer is also required to register their business and remit their employers’ share of contribution for employees to the agency. HDMF works towards providing fund members with adequate housing through an effective saving scheme.
Source: Republic Act 9679 – Home Development Mutual Fund Law of 2009
Business Name Registration
SSS/ Phil/ HDMF Registration