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Company registration fees in Philippines

<img src="Philippines-fees.jpg" alt="Company registration fees in Philippines"/>

Company registration fees in Philippines

Investors, local and foreign try to find information of company registration fees in Philippines, estimated cost or budget to register a new company. A Southeast Asian country in the Western Pacific, the Philippines comprises of more than 7,000 islands. The capital Manila, being one of the oldest cities in the Asia is a bustling metropolis. It holds 103.3 million population stretching up to 115,831 mi² generating a mighty labor force of around 65 million. With Gross Domestic Product GDP valuing 304.9 billion [2016] Philippines is the 3rd largest economy among ASEAN nations, 13th largest in Asia and 34th largest in the world. By the GDP per Capita of US$ 2,951.07 [2016] it is one of the emerging markets of the world and sixth richest in the Asia, following Singapore Brunei Malaysia Thailand and Indonesia.

The Securities & Exchange Commission in Philippines is the authority of registering LLC.

The Philippine Corporation Code, section 13 prescribed minimum paid-up capital requirements to form an LLC is 25% of the authorized capital fully subscribed and in any case this amount can’t be less than PHP 5000. The section 14 of the Code stipulates the A&A of the proposed company must appoint a treasurer to execute an affidavit citing that the 25% of the authorized capital has been fully paid to him in cash or in kinds as paid-up capital. Well, there are types of companies requiring more as paid-up capital than those are in general.

Following are the processes and fees or charges required to complete the Limited Liability Company LLC registration in Philippines. However, there are processes to be completed but requires no fees or charges. The registration certificate of a company in Philippines shall remain valid for 50 years.

SEC Registration Certificate

SEC Building, EDSA, Greenhills Mandaluyong City
visit website for online company registration in Philippines.
1 .Verification and reservation of the company name

Authority: Securities and Exchange Commission SEC

Searching of a name can be done via the SEC’s online verification system. It costs PHP 40 to have the name reserved for first 30 days and can be kept reserved for maximum 90 days for a fee of PHP 120. The approved name will be reserved for PHP 40 for the first 30 days. To remain the name valid or reserved for a period of 90 days PHP 120 is required to be paid as company registration fees in Philippines. The Certificate of name reservation can be collected from SEC in person. 1 working day is required to complete the process. The company name can be reserved for a maximum period of 90 days for a fee of PHP 120. The certificate of reservation can be had in person at the SEC. The procedure requires 1 working day to complete.

  • Deposition of minimum Paid-up capital at the bank

Authority: Bank. Process requires 1 working day and no charges 

  • Notarisation of the A&A and the Treasurer’s affidavit.

Agency: Notary

As per Section 14 and 15 of the Corporation Code, the A&A and the affidavit required to be notarized. The process requiring is 1 day and PHP 500 being the fee for Notary public.

  • Registering the company with;

    SEC for Taxpayer Identification Number TIN,

Social Security System SSS,

Philippine Health Insurance Company [PhilHealth] and

Home Development Mutual Fund [Pag-ibig Fund].

Agency: Securities and Exchange Commission

Company registration cost: One fifth of 1% of the authorized capital of the company or the subscription price of the subscribed capital5, whichever is higher but not less than PHP 1,000 + LRF [legal research fee] equivalent to 1% of filing fee but not less than PHP 10 + PHP 500 By-laws + PHP 150 for registration of STBs [stock and transfer book] required for new corporations + PHP 10 LRF [legal research fee] for the By-laws.

To complete of the process is required 2 working days.

  • Obtaining the business permit to start operation

Apply for business permit and license from the City/Municipality where the business is to be located.

Agency: Business Permits and Licensing Office

Obtaining Barangay clearance [Certificate of Residency]

Authority: Barangay [The smallest administrative division in the Philippines]

Processing requires 1 working day and PHP 500.

Obtaining Mayor’s permit

Mayor’s Permit
where it is: Municipality or City where the business/ entity is located
Validity: 1 year
Company registration fees in Philippines: PHP 2,408.05 business tax [being 25% of 1% of paid-up capital] + PHP 200 for mayor’s permit + 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 (10% of all regulatory fees)

5/6 working days are required to complete the process.

6 . Payment of  the annual community tax to get the community tax certificate CTC from the City Treasurer’s Office CTO

Agency: City Treasurer’s Office

1 (one) working day and PHP 500 is required to complete whole process.

7 .Buying of Books of account

Agency: Bookstore

This requires 1 working say and PHP 400 to complete.

8 .Applying for Certificate of Registration (COR) and TIN at the Bureau of Internal Revenue [BIR]

Agency: Bureau of Internal Revenue

After receiving TIN, the company is required to pay the annual registration fee of PHP 500 at any schedule bank, using payment form BIR Form 0605 or visit BIR website to get it.

1 day and PHP 100 [certification fee] and PHP 15 [documentary stamp tax, in loose form to be attached to Form 2303] is required to complete the processing

9 . Payment of the registration fee and documentary stamp taxes [DST]

Agency: Bureau of Internal Revenue

For every PHP 200 of the value of shares PHP 1.00 will be required as DST.

Cost: (PHP 500 registration fee + PHP 5,165.345 DST on original issuance of shares of stock. DST on the lease contract is not included in the computation of the cost). The processing requires 1 working day.

10 . Get authorization to print receipts and invoices from the BIR

Agency: Bureau of Internal Revenue

Processing requires 1 working day but no charge.

11 .Print receipts and invoices at the print shop

Agency: Bureau of Internal Revenue

To complete the process might require 7 days and fees of PHP 3500.

12 .Have books of accounts and Printer’s Certificate of Delivery (PCD) stamped by the BIR

Agency: Bureau of Internal Revenue

It would cost 1 working day but no charge.

13 . Final Registration with the Social Security System (SSS)

Agency: Social Security System

To register with the SSS, the company must submit the following documents:

  • Employer registration form (Form R-1);
  • Employment report (Form R-1A);

Processing requires 1 working day and no charge.

 14 .Final registration with the Philippine Health Insurance Company (PhilHealth)

Agency: Philippine Health Insurance Corporation

1 working day is required but no charge to complete the process.

 15 .Final registration with Home Development Mutual Fund (Pag-ibig)

Agency: Home Development Mutual Fund

Processing costs 1 working day but no charge.

Our information of company registration fees in Philippines, cost and charge source of government websites. Contact us for private limited company registration service.

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