Few days ago, a professional blogger inquired me about the registration of business name in the Department of Trade & Industry (DTI) and willingly expressed to assist on it but I asked the professional a favor to research for hours with regards to taxation & fees updates and other necessary requirements. In fact, this is not the first time that I was requested not just only about the requirements for the registration of business name but also application of it as a business entity in DTI and to other government agencies in the Philippines. I just want to make a decision and give advice that is favorable, convenient and practicable to each other.
Eventually, I suggested making a new application of business name and paying the registration fee through online services. I am glad that the person already applied the business name through online and just waiting for the approval of the certification with the DTI. I am willing to help the professional for the complete registration of the business name to other required government agencies if I will be given the opppurtunity to do so.
It was three years ago when I manually filed a business name of a Single/Sole Proprietorship and with my researched I found out that the DTI is now implementing a registration fees of both original and renewal for business name registration depending on the territorial jurisdiction with details as follows: Barangay-Php200.00, City/Municipality-Php500.00, Regional-Php1,000.00 and National-Php2,000.00. The validity of the registration is with a life span of five years.
Please be informed that Corporations is no longer required to register with the DTI. It is only for the registration and application of business name for Single/Sole Proprietorship and other entities required to register with the said government agency.
I have written this article because I was requested in my office to research if corporation is still required to register the business name with the Department of Trade & Industry (DTI). Inspite of having the ideas me about it, I humbly agreed to research on it. The corporation is not required anymore to register with the DTI up to date instead to the Securities and Exchange Commission (SEC).
I hope that this post may help the readers and interested parties regarding this matter.