File - Cebu Business Outsourcing Solutions

BUSINESS SET-UP
IN THE
PHILIPPINE
CEBU BUSINESS OUTSOURCING SOLUTION
S
– Company Incorporation Service in the
In the Philippines, SEC – Securities and Exchange Commission (http://www.sec.gov.ph/)
is the governing body for Domestic Corporations (Subsidiary), Partnerships, Branch
Offices and Regional Headquarters. All entities doing business in the Philippines are
required to obtain a license to operate. Cebu Business Outsourcing Solution provides
company set-up formation service to Foreign Corporations, Small and Medium
Enterprises and Individuals in starting their business in the Philippines.
Philippines for foreigners and locals.
After a preliminary discussion to establish which is the best setup for
your specific business, CEBU BUSINESS OUTSOURCING SOLUTION will
assist you in incorporating either a Domestic Corporation (Subsidiary),
Partnerships, Foreign Branch Office or Representative Office and
acquire all the business permits that are indispensable to legally
operate a business in the Philippines as well as Philippine work visa
and resident visas.
Complete Process of Business Registration :
1) SEC Registration
--2) Business Permit Processing
--3) Bir, SSS, HDMF, PHIC
---
SEC LIST OF REQUIREMENTS
ENDORSEMENT :
฀
NAME VERIFICATION SLIP :
NAME MUST BE REFLECTIVE OF THE PRIMARY PURPOSE OF THE CORPORATION
฀
DOLE FORM : fill-out and sign
฀
BANK CERTIFICATE OF DEPOSIT
฀
COVER SHEET
฀
ARTICLES OF INCORPORATION
o
Name of Corp.
o
Purpose : ONLY ONE PRIMARY PURPOSE; OTHER PURPOSES-SECONDARY
o
Primary
o
Secondary
Minimum paid-up e ’t.
Foreign equity allowable
o
Complete principal office address (WITH HOUSE #, NAME OF
BLDG./STREET/SITIO/PUROK/BARANGAY/CITY/MUNICIPALITY)
o
Incorporators/Directors : 5 -15 only
o
Complete RESIDENTIAL address of EACH
o
COMPLETE Address of aliens abroad
o
Number of directors : 5 to 15; MUST BE A STOCKHOLDER; # OF SEATS
ALLOWABLE FOR ALIENS = FOREIGN EQUITY
o
Authorized capital stock (ACS) ______ number of shares ______Par value ______
o
Subscribed capital stock (SCS) (at least 25% of ACS/fractional shares not allowed)
______ number of shares ______ Paid-up (must be 25% SCS and must be amount
deposited) ______
o
If with subscribing corporations – submit Board Resolution ratified by at least 2/3 of the
OCS and proof of existence
o
Treasurer – aliens not allowed as officers for corp. With 40 % or less foreign equity
o
Undertaking to change name; new text
o
Adoption clause: date/ place
o
Signatories : MUST BE THE INCORPORATORS + 2 witnesses
o
TIN of Signatories
o
Acknowledgement :
o
Date/ place notarized
o
Names of Incorporators
o
CTC #’s
o
Place/date issued
o
Documentary stamp
฀
TREASURER’S AFFIDAVIT
o
TIT – aliens not allowed as officers for corp. With 40% or less foreign equity
o
Name of bank/branch
o
Name of Corporation
o
Amount = pais-up
o
CTC # place & date issued of TIT
o
Documentary stamp
฀
CONFIRMATION OF CORRECTIONS
฀
BY – LAWS
o
Name of corp.
o
Annual Meeting – must be specific date
o
Fiscal year
o
Adoption clause: data/ place
REQUIREMENTS FOR BUSINESS PERMIT
I. For issuance of Assessment for Payments
1. For single proprietorship – Department of Trade and Industry Registration Certificate
2. For partnership or corporation – Certificate of Registration from the Securities and Exchange
Commission, and Articles of Incorporation and By- laws
- Board Resolution of Authorized Representative
3. For cooperative – Certificate from the Cooperative Development Authority, Articles of Cooperative
and By-laws
- Board Resolution of Authorized Representative
II. For verification of requirements (must be complied within 60 days from the issuance of Business Tax
Payment Certificate) – Submit original and photocopy of the following documents :
1. All of the documents enumerated under I and II above
2. Assessment Sheet
3. SSS, PHILHEALTH, and PAG-IBIG Clearance
4. Sanitary Permit indicating the number of Employees
5. Fire Safety Inspection Certificate
6. Real Property Tax Clearance or Certificate of NO DELIQUENCY of the immediately preceding year, if
the property is owned by the applicant; OR Contract or Lease if renting the building and/or land (submit
2 photocopies)
7. BIR issued Certificate of Registration (COR), BIR Form 0605 (Proof of Paymnet of BIR Annual
Registration Fee of Php500.00 per establishment)
8. Community Tax Certificate of Employees
9. Occupational Tax and Professional Tax of Employees
10. Official Receipt of the Registration of Weights and Measures if engaging with Weights and Measures
11. List of Tax Declaration Numbers of Real Estate Properties subject for rent for Real Estate Lessors
12. Environmental Compliance Certificate issued by CCENRO
13. Other Requirements from National and/or Local (Additional Requirements based from the Joint
Inspection Team Remarks)
14. Approved Joint Inspection Team Inspection Report
30 – 45 days
7 – 30 days
7 days
REQUIREMENTS FOR THE APPLICATION OF SSS
฀
฀
฀
฀
฀
฀
฀
SEC Registration – original & photocopy ( if corporation )
DTI Registration – original & photocopy ( if single )
RI-A (List of Employees with SSS nos. & other information needed) – 3 copies(long bond paper)
o
Authorized signatory (president or secretary) – if corporation
o
Authorized signatory (owner) – if single
R1 (Employer Registration Form) – 3 copies
o
Authorized signatory (president or secretary) – if corporation
o
Authorized signatory (owner) – if single
L-501(Specimen Signature) – 2 copies
o
Authorized signatory (president or secretary) – if corporation
o
Authorized signatory (owner) – if single
Sketch of the location of the Company
Photocopy of any valid ID’s of the o e - (if single)
If do ’t ha e SSS u be yet:



Original copy of NSO birth (if have dependents, original copy also of the birth of dependents)
If married, original copy of marriage certificate.
Fill up E-1 form – 3 copies
REQUIREMENTS FOR THE APPLICATION OF PHIC
฀
฀
฀
฀
฀
SEC Registration – photocopy ( if corporation )
DTI Registration – photocopy ( if single )
ER-1 (Employer Data Record) – 3 copies
o
Authorized signatory (president or secretary) – if corporation
o
Authorized signatory (owner) – if single
Latest Business Permit or Assessment of Business Permit – photocopy
ER-2 (Report of Employee-Members with Philhealth nos. & other information needed) -3 copies
o
Authorized signatory (president or secretary) – if corporation
o
Authorized signatory (owner) – if single
If do ’t have PHIC u ber yet:



Original copy of NSO birth (if have dependents, original copy also of the birth of dependents)
If married, original copy of marriage certificate.
Fill up PMRF form – 1 copy
REQUIREMENTS FOR THE APPLICATION OF HDMF
฀
฀
฀
฀
฀
฀
Specimen Signature – 3 copies
o
Authorized signatory (president or secretary) – if corporation
o
Authorized signatory (owner) – if single
Employee List – 3 copies (long bond paper)
o
Authorized signatory (president or secretary) – if corporation
o
Authorized signatory (owner) – if single
SEC Registration – 2 photocopies ( if corporation )
DTI Registration – 2 photocopies ( if single )
RI-A of SSS – photocopy
Sketch of the location of the company
If do ’t have HDMF u ber yet:


Original copy of NSO birth (if have dependents, original copy also of the birth of dependents)
If married, original copy of marriage certificate.
REQUIREMENTS FOR BUREAU OF INTERNAL REVENUE
1. DTI - for individual
SEC - for Corporation
2. Contract of Lease - if renting
Affidavit of No Rental with proof of tax declaration as an owner - if not renting
3. BIR forms - need to fill up
0605 - For new registration
1903 - for corporation
1901 - for individual
2000 - for corporation - documentary stamp for Original Issuance shares of stock.
2000 - for corporation & individual if renting - documentary stamp for contract of lease.
1906 - form for application of Authority to print
4. Vicinity Map location of their establishment or company.
5. Picture of their establishment indoor and outdoor with neighboring site.
6. Books of Account
VAT Registered
Journal Book
Purchase Subsidiary Book
Sales Subsidiary Book
Non - Vat
Journal Book
Cash Disbursement Book Col. 14
Ledger Book
Ledger Book
CBOS FORM 2014 / 003
TOTAL ESTIMATED COST FOR NEW BUSINESS REGISTRATION
PAYMENT TERMS
1) Processing Feee to CBOS (Fixed Fee)
1.1 SEC Registration
1.2 Business Registration
1.3 SSS, PHIC, HDMF & BIR Registration
Estimated Cost Payable to CBOS
----
Php 25,000.00
Php 15,000.00
Php 5,000.00
--
Php 45,000.00
-------
Php
40.00
Php 2,000.00
Php
300.00
Php
510.00
Php
470.00
Php 1,250.00
--
Php 4,570.00
2) SEC Payments (Estimated Only)
2.1 Name Verification / Reservation Fee
2.2 Filing Fee for Articles of Incorporation (AOI)
2.3 LRF (for AOI), Handlig Fee, SEC Bulletin
2.4 By-Laws
2.5 Stock and Transfer Book
2.6 Documentary Stamp Tax
Estimated Cost Payable to SEC
3) Registration Fees to other Government Agencies (Estimated Only)
3.1 BIR Annual Registration Fee
3.2 Printing of Official Receipts
3.3 Community Tax Certificate
3.4 Barangay Clearance
3.5 Insurance
3.6 Notarial Fees
3.7 Business Permit
3.8 Sanitary Permit
3.9 Garbage Fee
3.10 Signboard Fee
Estimated Cost Payable to Government
Sum Total Estimated Cost
-----------
Php
Php
Php
Php
Php
Php
Php
Php
Php
Php
500.00
5,000.00
500.00
1,000.00
1,500.00
200.00
2,500.00
1,000.00
4,500.00
200.00
--
Php 16,900.00
--
Php 66,470.00
BIR
BUSINESS
PERMIT
NOTE :


#2 & #3 is paid to the government and subject to liquidation upon completion. Cost is
estimated only.
Lease Contract DST not included
Proposed Equity Structure
Authorized Capital Stock
Subscribe Capital Stock
Paid – Up Capital
----
Php 1,000,000.00
Php 250,000.00
Php 62,500.00
- FULL PAYMENT BEFORE PROCESSING GIVE US A CALL
VISIT US
or
(032) 254 – 0865
www.cbos.com.ph
EMAIL US :
[email protected]
UPDATED AS OF DECEMBER 3, 2014