General Requirements in Putting Up a Business

Topics: Corporation, Investment, Stock Pages: 18 (4739 words) Published: September 9, 2011
Requirements in Putting up a Business

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Acceptable Business Names
* The root or words of the name shall be considered (e.g. “Island” instead of “Islander” * The business name should describe the nature of the business. It should be comprised solely of any or all of the following: letters, numerals, and punctuation that are part of the English and Filipino language. Names That Are Not Acceptable

* Those which are or whose nature of business is illegal, offensive, scandalous, or contrary to propriety. * Those which are identical or nearly resemble business names already registered with the DTI and the SEC. * CDA, DOLE or any other government office authorized by law to register names, because these are likely to cause confusion or mistake in the minds of the public and prejudice the interest of the owner of the registered business name or firm name taking into consideration the following: * Nature of the business

* Product/service handled
* Location/place of the business
* Capitalization
* General appearance, spelling, sound and meaning
* Use of dominant/descriptive words and such other factors as maybe determined by the BTRCP Director * Names composed purely of generic words
* Name which, by law or regulation, cannot be appropriated * Names, words, terms, or expressions used to designated or distinguish, or suggestive of quality of any class of goods, articles, merchandise, or service * Names or styles used by the government in its governmental functions * The names or abbreviation of names, of any nation, inter-governmental or international organization unless authorized by the competent authority of that nation, inter-governmental or international organizations * Names which are deceptive, misleading or which misrepresent the nature of the business * Such other names which, in the opinion of the Director, are undesirable or analogous to the above

Applying For a Business Name
A. Choose a Business Name
B. Search for a Business Name
C. Register your Business name
D. Completing The Application
Items to be consider:
Tax Identification Number (TIN)
Email Address
Zip code
There also some items of information that may be of particular concern when completing the application. For example:
What is/are your business activity (ies)?
What is/are your product(s) and/or services/
What is your Philippine Industrial Classification System (PSIC) code?

1. Submit Documentary Requirements
2. Pay your Application
What Do I Need To Register My Business Name?
A. For single Proprietorship
* Must be a Filipino citizen, at least 18 years old
Two 2X2 color ID pictures of applicant taken within one (1) one year immediately preceding the filing of such application. The pictures must be identical, clear and signed by the applicant. * Filipinos whose names are suggestive of alien nationality must submit proof of citizenship, such as birth certificate, PRC ID, voter’s ID, passport

B. For Corporation, Partnership and Cooperative
* Filled up application form
* Certified photocopy of SEC and CDA registration and Articles of Incorporation, Partnership or Cooperative (by the board of secretary) * Board Resolution for the registration of an adopted name/ branch with specific address(if applicable) * Processing fee of P500.00

C. For Foreign Investors
* Certified true copy of the certificate of authority to engage in business in the Philippines per R.A. 7042 issued by the DTI-NCR * Certified true copy of latest business permit from the concern Local Government Unit (LGU) * Alien certificate of registration (ACR) updated the current year and present original copy of comparison * Accomplished DTI Form No.17 under R.A 7042

* Current written appointment of Filipino Resident Agent
* Clearance from other involved agencies such as DOST, PNP etc. * In...
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