The challenge is the endless paper trail of documents to complete this transaction, in duplicate: your application along with a clear sketch of the location where you are doing business attached to the back of your application; certification issued by the corporate secretary that authorizes your corporation to conduct business; certificate of registration; proof verifying the corporation's paid-up capital; receipts from certification transactions and other fees paid in full, and lease contracts; barangay clearance; and proof of having comprehensive general liability insurance. By the way, a word of advice keep those official receipt if you lose it it can come back and hunt you in many way. The confusing parts is at the end of the day, extra hidden cost to settles the matters to expedite the procedure by the agency or individual who claim that they can help you, circumferences all those tedious processing paperwork with a cost that come straight out of their book.
After you have applied to the mayor's office for a license to operate your business must receive an inspection from the mayor's office subordinate sometime being tag as a foreigner owned business carry some hidden cost affordability and ability to pay high tax. The formalities of inspection verifies that your corporation is as you say it is and actually conducting the activities that you claim you are. After completing and passing inspection, you will be issued proper licenses and permits to operate from the mayor's office.
Recommended that you buy special accounting books available at any bookstore. These books, sold in sets, contain these four accounting books: the cash receipts account, the disbursements account, the ledger and the general journal. If thing move smoothly, by now you should have received permission to print those receipt invoices and/or receipts. Now it is time to place the order. Head over to the printer press with the authority to print. The order can take up to two weeks to fill. The special accounting ledgers, invoices and receipts need to be stamped. Take these over to BIR. This office will oversee this step.your representative must now register with the Social Security System (SSS). This process takes about seven days to complete.
Employees must attend a seminar scheduled within a week of application to the SSS. Once the seminar is completed, a certificate of membership is then issued to the corporation. After becoming a member of the SSS, your corporation can now register with a commercial health insurance company and file per its requirements.
It finds that city regulations and the interpretation and implementation of national laws vary greatly, thereby constraining or promoting local business activity. For example, it takes 21 days in Mandaluyong to transfer a property title, compared to six weeks in Mandaue. To build a warehouse and connect basic utilities requires 23 procedures in Taguig and 33 in Mandaue and Pasig. (source from http://www.doingbusiness.org/ExploreEconomies/?economyid=153)
The cost (Bureau of Trade Regulation and Consumer Protection – BTRCP)
Main Fees to be Paid (In Pesos)
Application Fee Php 315.00-515.00
Single Proprietorship Partnership/Corporation Php 300.00 Php 500.00
Documentary Stamp Php 15.00
Sole Proprietorship under FIA Php 5,800.00
Business Name Registration Fee Filing Fee Php 300.00 Php 500.00
FIA Registration Fee Php 5,000.00
Lastly I just add that having a lot of patience and the understand that you are in Philippine and not in Singapore where everything is cast in stone and the cost is quite transparency, and widely available online . When in Philippine you have to navigate your way through the alleys and corridors of Philippine bureaucracy is an important skill to have plus and be prepare to fork out some extra "Kopi water ". Finally, the best solution was to engage a reliable local Representative in this field to settle all this paper work for you, hope that helps.
New business names.(ON THE RECORD)(List): An article from: Fairfield County Business Journal
New business names.(On The Record): An article from: Westchester County Business Journal
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