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Costs of Starting a business in Philippines

Verify and reserve the company name with the Securities and Exchange Commission (SEC) PHP 40.00
Deposit paid-up capital in the Authorized Agent Bank (AAB) and obtain bank certificate of deposit PHP 20,000.00
Notarize articles of incorporation and treasurer’s affidavit at the notary PHP 500.00
Register the company with the SEC and receive pre-registered Taxpayer Identification Number (TIN) PHP 6,000.00
Obtain barangay clearance PHP 800.00
Obtain application form from the Business Permits and Licensing Division (BPLD) PHP 0.00
Obtain endorsement from the City Treasurer’s Office (CTO) to the Bureau of Fire Protection (BFP) and the City Environment Office (City ENRO) PHP 0.00
Obtain temporary Fire Safety Inspection Certificate (FSIC) from the BFP PHP 0.00
Obtain clearance from City ENRO PHP 0.00
Obtain sanitary permit and endorsement from City Health Office PHP 0.00
Obtain business permit to operate from BPLD PHP 20,000.00
Buy special books of account at bookstore PHP 400.00
Apply for Certificate of Registration (COR) and TIN at the Bureau of Internal Revenue (BIR) PHP 115.00
Pay the registration fee and documentary stamp taxes (DST) at the AAB PHP 4,670.00
Obtain the authority to print receipts and invoices from the BIR PHP 0.00
Print receipts and invoices at the print shops PHP 5,000.00
Have books of accounts and Printer’s Certificate of Delivery (PCD) stamped by the BIR PHP 0.00
Register with the Social Security System (SSS) PHP 0.00
Register with the Philippine Health Insurance Company (PhilHealth) PHP 0.00
PHP 57,525.00
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