Agencies and permits to know when starting a business
Following are the government agencies that an entrepreneur needs to register with.
Nov 21, 2011 19:00 pm
So you've finally decided to push through with your business idea and as luck would have it, also find funding for it. Now comes the part that every entrepreneur doesn't look forward to: securing all the necessary permits to start your business.
Below is a list of the government agencies you need to go to and the permits your need to apply for:
Department of Trade and Industry (DTI)
- This is where you register if your enterprise is a single proprietorship. The agency will issue a certificate of registration of business name.
Securities and Exchange Commission (SEC)
- If your enterprise is a partnership or a corporation, this is where you will register. It will issue a certificate of registration.
Cooperative Development Authority (CDA)
- If your set-up is a cooperative, register with this body. The agency will issue the certificate of registration.
Local Government Unit (LGU)
- You register with the municipality or city where you will set up your business. This office will issue the business permit.
- You register with the specific barangay in the municipality or city where you will operate your business. This office will issue the barangay clearance.
Bureau of Internal Revenue (BIR)
- You register your business with this office and apply for your business’s taxpayer identification number (TIN), registration of books of accounts, authority to print
Social Security System (SSS)
- You register your business as an employer, yourself as a self-employed or as employee, and your workers as employees. This office will issue an SSS number for your business, for yourself, as well as for your workers.
Department of Labor and Employment (DOLE)
- If you employ five workers or more, register your business with this agency. The DOLE is asked to promote gainful employment opportunities, protect workers and promote their welfare, develop human resources, and maintain industrial peace.
Home Development Mutual Fund (HDMF)
- RA 7742 requires all SSS members earning at least P4,000 a month to register with this agency. HDMF administers the Pag-Ibig Fund.
Philippine Health Insurance Corp. (PhilHealth)
- The New National Health Insurance Act (RA 7875) as amended by RA 9241 requires all employers of the government and private sectors and their employees to register with this agency. PhilHealth manages and administers the government health care system.
Are you considering new locations for your business? Check out the 10 Philippine cities where starting a business is a breeze