Business license in Philippines
Starting a business license in Philippines is main requirement and licenses depending on the kinds of businesses. The procedural complicates not only costs money but too much of times. The Doing Business 2016 report of World Bank Philippines ranks 99th in Ease of business and 171st in Starting a Business indices.
In addition to the incorporation or registration of the companies with SEC (Security Exchange Commission,) some specific Permits or licenses are too required to get to the business.
One of the LGUs [Local Government Units], Barangay is the smallest administrative divisions in Philippines the barangay clearance is the residency permit certifying the location of a business or company. The fees required ranging from PHP 300 to PHP 1000 depending on the barangays or locations. Maximum 1 working is required to give the clearance if supported duly with documents required.
Other LGUs is in big cities. In obtaining a Mayor’s Business permit the requirements vary from different cities or municipalities. This means that obtaining a business license in Philippines, business environment in Makati City may become different from getting it in Manila or Cebu City. This business license in Philippines is also a requirement by the BIR in issuing a BIR certificate of registration.
Costs are; PHP 2,408.05 as Business tax [or 1% of paid-up capital whichever is higher] + PHP 200 for the permit itself + PHP 150 for sanitary inspection fee + PHP 50 for signboard fee + PHP 300 for business plate + PHP 100 for QCBRB + PHP for 545 zoning clearance + PHP 1,300 for garbage fee+ PHP 300 for FSIC[Fire Service Inspection Certificate].
Employees of companies required to be registered In the with PhilHealth to get health insurance coverage .Those employers in the private sector registered with the SSS before July are automatically registered but are required to update their records with PhilHealth. To check the requirements of registering your business with PhilHealth . The processing costs 1 Day but no charge.
Known popularly as the Pag-IBIG Fund, is The Home Development Mutual Fund HDMF of a Filipino government corporation under the Housing and Urban Development Coordinating Council responsible for the administration of the national savings program and affordable shelter financing for Filipino employees. 1 (one) working day is required and no charge.
The registered businesses in the Philippines hiring 5 or more employees must register with the Department of Labor and Employment DOLE. In Philippine it’s very easy to file cases of labor related problems with the National Labor Relations Commission NLRC, a wing of DOLE responsible for investigating labor oriented cases. Registration with DOLE helps employers to avoiding influx of cases. Companies or businesses engaged in manpower industry and educational institutions are mandatory required to register with DOLE. Registration with DOLE would ½ days and no charge.
Special permits / Clearances
As requirement of business license in Philippines or permits required from some specific government bodies to do some specific businesses in Philippines. The authorities and the businesses are as follows:
Well, laws and regulations are on constant changes to adjusting with the changes in the corporate environment. Thus it’s always suggesting to check with the relevant authorities beforehand to know what exactly the requirements of business license in Philippines and procedures that required currently to avoid any wrong doing.