sole proprietorships

 

A Sole Proprietorship, under Philippine law, is a business structure owned by an individual who has full control/authority of its own and owns all the assets, personally owes and answers all liabilities or suffers all losses but enjoys all the profits to the exclusion of others. 

A Sole Proprietorship must apply for a Business Name and must be registered with the Department of Trade and Industry in the National Capital Region (DTI-NCR) or its extesion offices for those located in the province. 

 Requirements for Sole Proprietorships

Requirements for Filipino Investors (Must be filed at nearest Department of Trade and Industry or through www.dti.gov.ph)

  1. Must be a Filipino citizen, at least 18 years old
  2. Filipinos whose names are suggestive of alien nationality must submit proof of citizenship such as birth certificate, PRC ID, voter’s ID, passport. If the applicant has a foreign sounding name, acquired Filipino citizenship by naturalization, election or by other means provided by law, he must submit proof of his Filipino citizenship such as:
    • Professional Regulatory Commission (PRC)
    • Valid ID card issued by the Integrated Bar of the Philippines (IBP) or
    • Naturalization certificate and Oath of allegiance,
  3.  ​​Processing Fee of P300.00 and P15 Documentary Stamp

 

Requirements for Foreign Investors (Must be submitted in 5 copies)

  1. Interview sheet with interviewer’s findings and recommendation
  2. Duly Accomplished Forms:
    • Form #16- Business Name Application
    • Form #17- Foreign Investor’s Application
  3. ID pictures (Passport Size)
    • Foreign Investor - 7 copies
    • Filipino resident agent - 7 copies
  4. ACR / ICR, Special Investors Resident Visa (SIRV) or passport
  5. Notarized Appointment of Filipino Resident Agent
  6. For Non-Resident Alien : Proof of Inward Remittance of Foreign Currency with Peso Conversion; For Resident: Bank Certificate of Deposit
  7. Authority to verify Bank Accounts/Bank Certificate of Deposit
  8. Certification from Resident Alien not seeking Remittance of Profits and Dividends Abroad
  9. If investment includes assets other than foreign exchange, copy of valuation report from Central Bank.
  10. Clearance/Certification from other involved agencies. PNP / DND if engaged in defense-related activities or DOST if investment involves advanced technology.
  11. Fees/Charges - In Cash: For Business Name Registration Certificate
    • Single Proprietorship - P300.00
    • Filing Fee - P500.00
    • Registration Fee - P5,000.00
  12. Biodata of Foreign Investor
  13. In case of alien retailer, current year’s permit to engage in retail business per RA 1180 (Amended by RA 8762 - Retail trade rationalization of 2000)

Additional requirements on case-to-case basis depending on actual examination and processing of the application. (i.e., If business requires practice of profession: submit photocopy of Philippine Regulation Commission (PRC) license or Integrated Bar of the Philippines membership and present original copy for comparison and contract of employment (If applicable)

 Registration Procedure for Sole Proprietorships

  1. Check online (from a hyperlink at DTI Website (www.dti.gov.ph) if the business name you like to register is still available.
  2. Fill-out the application form (copies can be obtained from DTI-Field offices and also available online). Indicate at least three (3) preferred business names.
  3. Submit application form together with the documentary requirements, and pay corresponding fees to appropriate DTI-field Offices (DTINCR for businesses within metro Manila or DTI-Provincial Offices for businesses outside the Metro Manila. Online lodgement of form is available to some DTI-field offices that have stable internet access.
  4. After evaluation of the application form and documents, applicant will be advised accordingly (personally for those walk-in clients and an auto e-mail notification for those who lodged online.
  5. Issuance of Certificate of Registration

 

Validity

The Certificate of Business Name Registration is valid for 5 years and shall be valid only at the business address indicated thereon. In the event the registered owner thereof should opt to open branch offices within the Philippines, he must apply for separate registration for each of the branch office so established.

Processing Time

One (1) Day - Application filed at National Capital Region (NCR) And some online DTI-Field Offices Five (5) Working Days - Application filed in other at DTI-Field Offices

Where to Register

  • National Capital Region Business Center:
    • AREA I- Manila, Pasay, Paranaque 2nd Flr., Park and Ride Lawton, Manila Tel. No. 536-7153
    • AREA II- Makati, Pasig, Pateros, Taguig, Muntinlupa, Las Piñas Unit 208 2nd Floor, Atrium Bldg., Makati Ave., Makati City Tel. No. 864-0847 or 864-0829
    • AREA III- Mandaluyong, Marikina, Quezon City, San Juan Ground Floor Highway 54 Plaza, Mandaluyong City Tel. No. 706-1767 or 706-1703
    • AREA IV- Caloocan, Malabon, Navotas, Valenzuela 5th Floor, Araneta Square, Monumento, Caloocan City Tel. No. 362-7664 or 332-0854
  • For businesses outside of Metro Manila: Proper DTI Provincial Office where business is located.

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