The Ultimate Guide to Starting a Business in the Philippines (2020 Edition)

The Ultimate Guide to Starting a Business in the Philippines (2020 Edition)

The preparations, steps, and requirements to start and register a business in the Philippines which includes the processes in DTI and BIR

January 4th, 2020 · 1 min read
The Ultimate Guide to Starting a Business in the Philippines (2020 Edition)

Starting a business is in almost everyone’s bucket list. It always seems like part of a dream when you imagine yourself as being your own boss and managing your own schedule. It also paves way to having an additional cashflow aside from having a regular day job.

Whether you’re just entertaining the idea or already set in stone to own a business, it’s helpful to know how to start and what challenges you might face from someone who already went through the entire process.

This 6-part blog series will cover everything you need to know about starting a single proprietorship business in the Philippines.

Part 1: About You and Your Business

About You and Your Business — Four things you need to know before starting a business in the Philippines: the entrepreneurial mindset, your business idea, the business name, and type

Part 2: Government Agencies

Government Agencies - DTI and BIR — What you need to know about DTI and BIR and why it’s important to know their roles in your business

Part 3: DTI Business Name Registration

Business Name Registration in DTI — What’s a Dominant Name? What’s a Business Name Descriptor? This article will guide you through the business name registration in DTI

Part 4: BIR Registration Requirements

Business Registration Requirements in BIR — What you need to prepare before registering your business in BIR and all the processes involved

Part 5: BIR Forms and Documents

Forms and Documents for BIR Registration — What are the BIR Forms 1901 and 0605? This article will give guide you how to fill out these forms and other documents you need to register your business in BIR

Part 6: Final Steps

Certificate of Registration, Official Receipts, Due Dates, and Filing Taxes — The final steps in registering your business in the Philippines. What you need to know about BIR Form 2303, official receipts (OR), due dates, and filing taxes

Credits: Illustration by Natasha Remarchuk from Icons8

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