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Author Topic: Single Proprietor to Corporation...... Steps & legalities ?  (Read 6641 times)

straightforward

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Single Proprietor to Corporation...... Steps & legalities ?
« on: September 24, 2007, 12:05:58 AM »
hi guys,
Any idea on how to turn your existing single proprietorship business to Corporation? Complicated ba?
What are the Steps and legalities?

chinky

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #1 on: September 24, 2007, 11:23:20 PM »
Madali lang po actually. Ang importante ay may 5 incorporators. Anyway, baka interesado po kayo, kasama po yan sa scope ng services namin.

You may contact 0917-6243777 po. I sent you po a PM. God bless!

freesoul

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #2 on: September 24, 2007, 11:35:15 PM »
there is handbook released by "entreprenuer philippines" about starting your own business, it would really be a big help for you... see if filbars still have copy of it.

straightforward

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #3 on: September 25, 2007, 01:23:44 AM »
got that copy already...... but there's no article about turning your present sole prop biz to corp.  thanks anyway
there is handbook released by "entreprenuer philippines" about starting your own business, it would really be a big help for you... see if filbars still have copy of it.

straightforward

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #4 on: September 25, 2007, 01:29:12 AM »
hi
we actually formed a corporation, complete with SEC. BIR. etc.
we just want to acquire this sole prop business owned by one of the incorporators

Madali lang po actually. Ang importante ay may 5 incorporators. Anyway, baka interesado po kayo, kasama po yan sa scope ng services namin.

You may contact 0917-6243777 po. I sent you po a PM. God bless!

chinky

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #5 on: September 25, 2007, 08:18:39 PM »
hi
we actually formed a corporation, complete with SEC. BIR. etc.
we just want to acquire this sole prop business owned by one of the incorporators

Madali lang po actually. Ang importante ay may 5 incorporators. Anyway, baka interesado po kayo, kasama po yan sa scope ng services namin.

You may contact 0917-6243777 po. I sent you po a PM. God bless!



Pwede naman po yan...bale, lalabas po na branch nyo po yung business na i-aacquire nyo po...

rbminerva

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polyberry

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #7 on: January 27, 2008, 09:48:18 PM »
my mom and i are planning to up a preschool, and we learned na dapat corporation kami before dep ed would grant us the permit. and after checking on the website of SEC, they require a 1 million minimum paid capital for businesses like preschool. my question is, when can we withdraw this minimum paid up capital? pwede ba na during sa application for SEC lang may 1M kami sa bank, then pag approved na, withdraw na namin para sa expenses sa business? thank u =)

makotosing

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makotosing

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    • tyfarma audit tax consultancy
Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #9 on: March 29, 2008, 10:03:59 PM »
hi guys,
Any idea on how to turn your existing single proprietorship business to Corporation? Complicated ba?
What are the Steps and legalities?

you may exchange youre current business for stocks of the new corporation...thats tax free transaction..mag pa tax ruling po kayo.. kaso baka mahirapan ka sa tax ruling... or you may form first a corporation then..acquire the sole proprietorship business...thats bulk sale...bayad ka ng CGT hay naku
tax..


makotosing

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #10 on: March 29, 2008, 10:05:58 PM »
my mom and i are planning to up a preschool, and we learned na dapat corporation kami before dep ed would grant us the permit. and after checking on the website of SEC, they require a 1 million minimum paid capital for businesses like preschool. my question is, when can we withdraw this minimum paid up capital? pwede ba na during sa application for SEC lang may 1M kami sa bank, then pag approved na, withdraw na namin para sa expenses sa business? thank u =)

of course you can withdraw..i mean the corporation can withdraw it....make a board resolution..mga signatories, then issue a check..encash it against the corporations account..or issue a check as payment...


rhina

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #11 on: March 30, 2008, 10:49:58 AM »
my mom and i are planning to up a preschool, and we learned na dapat corporation kami before dep ed would grant us the permit. and after checking on the website of SEC, they require a 1 million minimum paid capital for businesses like preschool. my question is, when can we withdraw this minimum paid up capital? pwede ba na during sa application for SEC lang may 1M kami sa bank, then pag approved na, withdraw na namin para sa expenses sa business? thank u =)

hi. is this a new ruling in putting up a pre school ?
mahirap na din pala mg put up ng pre school ngyon..
sana somebody could answer this question.
kelan nga kaya mawithdraw yng money ?
or is it like show money lang ?
 ;)

makotosing

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #12 on: April 08, 2008, 06:26:37 PM »
my mom and i are planning to up a preschool, and we learned na dapat corporation kami before dep ed would grant us the permit. and after checking on the website of SEC, they require a 1 million minimum paid capital for businesses like preschool. my question is, when can we withdraw this minimum paid up capital? pwede ba na during sa application for SEC lang may 1M kami sa bank, then pag approved na, withdraw na namin para sa expenses sa business? thank u =)

hi. is this a new ruling in putting up a pre school ?
mahirap na din pala mg put up ng pre school ngyon..
sana somebody could answer this question.
kelan nga kaya mawithdraw yng money ?
or is it like show money lang ?
 ;)

thats not a ruling..requirement po yan ng SEC.. may mga gumagawa kasi ng dummy corporation..kaya gumawa ng guidelines at rules ang SEC to protect the public

jhaypatts

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #13 on: April 19, 2008, 11:52:22 AM »

straightforward

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Re: Single Proprietor to Corporation...... Steps & legalities ?
« Reply #14 on: April 19, 2008, 11:39:02 PM »
calling all acountants here

please share some of your knowledge here regarding the topic.
some of us here really cant afford to hire an accountant.
your expertise will surely help a lot of entrepreneurs

thank you ;)