MANILA, Philippines- Filipino entrepreneurs planning to set-up their own business may now find the process easier as local governments will now be required to release business permits and licenses within one to two days.
During a press briefing on Tuesday, August 30, Department of Trade and Industry (DTI) Secretary Ramon Lopez said entrepreneurs only need to submit their requirements to the city government. Through this system, they can also obtain a separate clearance from the barangay and a safety certificate from the Bureau of Fire Protection (BFP) since the city government will handle all the necessary clearances and payments.
“It takes people weeks and months to start a business. We don’t want to make it difficult for people. Their business is not in lining up. Their business is in doing their business,” Lopez said.
Under this system, the processing time of business permits and licenses is reduced to 1-2 days, from the usual period of 5-10 days. No additional costs will be incurred.
The Department of Trade and Industry (DTI), Department of Interior and Local Government (DILG), the National Competitiveness Council (NCC) and the Department of Information and Communication Technology (DICT) signed the Joint Memorandum Circular (JMC) requiring all cities and municipals in the Philippines to follow the revised standards for business permits and licensing system (BPLS).
Moreover, the circular also recommended local government units (LGUs) to automate and computerize business transactions to improve speed and efficiency of services rendered. The said move will also significantly eliminate corruption since there will be less face-to-face interaction.
How to Set-up Business under Sole-Proprietorship in the Philippines?
According to the Official Gazette of the Philippines, you need to register your business with the DTI, Bureau of Internal Revenue (BIR), and the Social Security System (SSS).
Here are the requirements for business under sole-proprietorship:
- Business Tax Identification Number (TIN)
- Business permit from mayor’s office
- Barangay/Municipal/Regional Clearance depending on your intended operations
- Certificate of Business Name Registration from the DTI
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