Step-By-Step Corporate Registration
Step-By-Step Corporate Registration
Step-By-Step Corporate Registration
ASSOCIATES CPAS
“We Help Your Business Grow”
Accountant, Tax, Legal, Business Compliance and Advisory Group of Professionals
What is Corporation?
A corporation is a legal entity that is separate and distinct from its owner or incorporators. It has legal
rights and obligations similar to an individual. It can enter into contracts, loan hire employees, pay taxes,
etc. it is formed by at least five (5) individuals called incorporators.
The ownership of a corporation is divided into shares of stocks. A corporation issues the stock to
individuals or other businesses, who then become owner’s stockholders of the corporation.
Advantages of a Corporation
The risk and liability is limited only to the corporation. Owners are not personally liable.
It its easy to increase capital through issuance of stocks to investors
It can exist indefinitely
It has capacity to act independently similar to individual
The management or decision making is shared by the board of directors, not sole individual
Disadvantages of a Corporation
More costly to set-up than proprietor
It is mandated by more government reportorial requirements and laws
Higher capital requirement and operating cost
Higher tax rates
1. Reserve and Register Your Business Name in Securities and Exchange Commission
(SEC), as
Check if your desired business name is available via SEC online website or at SEC Office
in Mandaluyong
If available, register/reserve your business name via SEC online website or at SEC Name
Verification Unit – SEC Office in Mandaluyong
Prepare, sign and notarize the following:
o Articles of Incorporation;
o By Laws
o Treasurer's Affidavit; and
o Joint affidavit of two incorporators undertaking to change corporate name
immediately upon receipt of notice or directive from the Securities and
Exchange Commission that another corporation, partnership, or person has
acquired a prior right to use of that name or that name has been declared
misleading, deceptive, confusingly similar to registered name, or contrary to
public morals, good customs or public policy. (Not required if the Articles of
Incorporation have a provision on this commitment).
Processing Time: At least one (1) week upon submission of complete documents
Once you have a Barangay Clearance Certificate, the next step is to acquire a Business Permit in
the municipality where your business is located.
Here are the basic steps and requirements:
Go to the municipal office where your business is located to secure and fill-up
application form
Submit your completed application form together to secure and fill-up application form
Submit your completed application form together with the following:
o Certificate of Business Registration from SEC
o Barangay Clearance Certificate
o Two (2) valid IDs
o Proof of Address such as Contract of Lease (if rented) or Certificate of Land Title (if
owned)
Processing Time: At least one week upon submission of complete documents. But It can take longer
depending on the permit requirements based on the permit requirements based on the industry.
Once you have the Mayor’s Business Permit, you can now register with the BIR.