BUSINESS SET-UP

In the Philippines, SEC – Securities and Exchange Commission (http://www.sec.gov.ph/)

IN THE is the governing body for Domestic Corporations (Subsidiary), Partnerships, Branch

PHILIPPINE Offices and Regional Headquarters. All entities doing business in the Philippines are
required to obtain a license to operate. Cebu Business Outsourcing Solution provides

S
CEBU BUSINESS OUTSOURCING SOLUTION
– Company Incorporation Service in the
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 Complete Process of Business Registration :
your specific business, CEBU BUSINESS OUTSOURCING SOLUTION will 1) SEC Registration --- 30 – 45 days
assist you in incorporating either a Domestic Corporation (Subsidiary),
Partnerships, Foreign Branch Office or Representative Office and
2) Business Permit Processing --- 7 – 30 days
acquire all the business permits that are indispensable to legally 3) Bir, SSS, HDMF, PHIC --- 7 days
operate a business in the Philippines as well as Philippine work visa
and resident visas.

SEC LIST OF REQUIREMENTS REQUIREMENTS FOR THE APPLICATION OF SSS

ENDORSEMENT : ฀ SEC Registration – original & photocopy ( if corporation )
฀ NAME VERIFICATION SLIP : ฀ DTI Registration – original & photocopy ( if single )
NAME MUST BE REFLECTIVE OF THE PRIMARY PURPOSE OF THE CORPORATION ฀ RI-A (List of Employees with SSS nos. & other information needed) – 3 copies(long bond paper)
฀ DOLE FORM : fill-out and sign o Authorized signatory (president or secretary) – if corporation
฀ BANK CERTIFICATE OF DEPOSIT o Authorized signatory (owner) – if single
฀ COVER SHEET ฀ R1 (Employer Registration Form) – 3 copies
฀ ARTICLES OF INCORPORATION o Authorized signatory (president or secretary) – if corporation
o Name of Corp. o Authorized signatory (owner) – if single
o Purpose : ONLY ONE PRIMARY PURPOSE; OTHER PURPOSES-SECONDARY ฀ L-501(Specimen Signature) – 2 copies
o Primary o Authorized signatory (president or secretary) – if corporation
o Secondary o Authorized signatory (owner) – if single
Minimum paid-up e ’t. ฀ Sketch of the location of the Company
Foreign equity allowable ฀ Photocopy of any valid ID’s of the o e - (if single)
o Complete principal office address (WITH HOUSE #, NAME OF
BLDG./STREET/SITIO/PUROK/BARANGAY/CITY/MUNICIPALITY) If do ’t ha e SSS u be yet:
o Incorporators/Directors : 5 -15 only
 Original copy of NSO birth (if have dependents, original copy also of the birth of dependents)
o Complete RESIDENTIAL address of EACH
 If married, original copy of marriage certificate.
o COMPLETE Address of aliens abroad
 Fill up E-1 form – 3 copies
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 ______ REQUIREMENTS FOR THE APPLICATION OF PHIC
o Subscribed capital stock (SCS) (at least 25% of ACS/fractional shares not allowed) ฀ SEC Registration – photocopy ( if corporation )
______ number of shares ______ Paid-up (must be 25% SCS and must be amount ฀ DTI Registration – photocopy ( if single )
deposited) ______ ฀ ER-1 (Employer Data Record) – 3 copies
o If with subscribing corporations – submit Board Resolution ratified by at least 2/3 of the o Authorized signatory (president or secretary) – if corporation
OCS and proof of existence o Authorized signatory (owner) – if single
o Treasurer – aliens not allowed as officers for corp. With 40 % or less foreign equity ฀ Latest Business Permit or Assessment of Business Permit – photocopy
o Undertaking to change name; new text
฀ ER-2 (Report of Employee-Members with Philhealth nos. & other information needed) -3 copies
o Adoption clause: date/ place
o Authorized signatory (president or secretary) – if corporation
o Signatories : MUST BE THE INCORPORATORS + 2 witnesses
o Authorized signatory (owner) – if single
o TIN of Signatories
o Acknowledgement :
o Date/ place notarized
If do ’t have PHIC u ber yet:
o Names of Incorporators  Original copy of NSO birth (if have dependents, original copy also of the birth of dependents)
o CTC #’s  If married, original copy of marriage certificate.
o Place/date issued  Fill up PMRF form – 1 copy
o Documentary stamp
฀ TREASURER’S AFFIDAVIT REQUIREMENTS FOR THE APPLICATION OF HDMF
o TIT – aliens not allowed as officers for corp. With 40% or less foreign equity ฀ Specimen Signature – 3 copies
o Name of bank/branch o Authorized signatory (president or secretary) – if corporation
o Name of Corporation o Authorized signatory (owner) – if single
o Amount = pais-up ฀ Employee List – 3 copies (long bond paper)
o CTC # place & date issued of TIT o Authorized signatory (president or secretary) – if corporation
o Documentary stamp o Authorized signatory (owner) – if single
฀ CONFIRMATION OF CORRECTIONS ฀ SEC Registration – 2 photocopies ( if corporation )
฀ BY – LAWS ฀ DTI Registration – 2 photocopies ( if single )
o Name of corp. ฀ RI-A of SSS – photocopy
o Annual Meeting – must be specific date ฀ Sketch of the location of the company
o Fiscal year
o Adoption clause: data/ place
If do ’t have HDMF u ber yet:
 Original copy of NSO birth (if have dependents, original copy also of the birth of dependents)
REQUIREMENTS FOR BUSINESS PERMIT  If married, original copy of marriage certificate.
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 REQUIREMENTS FOR BUREAU OF INTERNAL REVENUE
Commission, and Articles of Incorporation and By- laws 1. DTI - for individual
- Board Resolution of Authorized Representative SEC - for Corporation
3. For cooperative – Certificate from the Cooperative Development Authority, Articles of Cooperative
and By-laws 2. Contract of Lease - if renting
- Board Resolution of Authorized Representative Affidavit of No Rental with proof of tax declaration as an owner - if not renting
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 : 3. BIR forms - need to fill up
1. All of the documents enumerated under I and II above 0605 - For new registration
2. Assessment Sheet 1903 - for corporation
3. SSS, PHILHEALTH, and PAG-IBIG Clearance 1901 - for individual
4. Sanitary Permit indicating the number of Employees 2000 - for corporation - documentary stamp for Original Issuance shares of stock.
5. Fire Safety Inspection Certificate 2000 - for corporation & individual if renting - documentary stamp for contract of lease.
6. Real Property Tax Clearance or Certificate of NO DELIQUENCY of the immediately preceding year, if 1906 - form for application of Authority to print
the property is owned by the applicant; OR Contract or Lease if renting the building and/or land (submit 4. Vicinity Map location of their establishment or company.
2 photocopies)
7. BIR issued Certificate of Registration (COR), BIR Form 0605 (Proof of Paymnet of BIR Annual 5. Picture of their establishment indoor and outdoor with neighboring site.
Registration Fee of Php500.00 per establishment)
8. Community Tax Certificate of Employees 6. Books of Account
9. Occupational Tax and Professional Tax of Employees VAT Registered Non - Vat
10. Official Receipt of the Registration of Weights and Measures if engaging with Weights and Measures Journal Book Journal Book Ledger Book Ledger Book
11. List of Tax Declaration Numbers of Real Estate Properties subject for rent for Real Estate Lessors Purchase Subsidiary Book Cash Disbursement Book Col. 14
12. Environmental Compliance Certificate issued by CCENRO Sales Subsidiary Book
13. Other Requirements from National and/or Local (Additional Requirements based from the Joint
Inspection Team Remarks)
14. Approved Joint Inspection Team Inspection Report
CBOS FORM 2014 / 003
 TOTAL ESTIMATED COST FOR NEW BUSINESS REGISTRATION
PAYMENT TERMS
1) Processing Feee to CBOS (Fixed Fee)
1.1 SEC Registration -- Php 25,000.00
1.2 Business Registration -- Php 15,000.00
1.3 SSS, PHIC, HDMF & BIR Registration -- Php 5,000.00

Estimated Cost Payable to CBOS -- Php 45,000.00

2) SEC Payments (Estimated Only)

2.1 Name Verification / Reservation Fee -- Php 40.00
2.2 Filing Fee for Articles of Incorporation (AOI) -- Php 2,000.00
2.3 LRF (for AOI), Handlig Fee, SEC Bulletin -- Php 300.00
2.4 By-Laws -- Php 510.00
2.5 Stock and Transfer Book -- Php 470.00
2.6 Documentary Stamp Tax -- Php 1,250.00

Estimated Cost Payable to SEC -- Php 4,570.00

3) Registration Fees to other Government Agencies (Estimated Only)

3.1 BIR Annual Registration Fee -- Php 500.00 BIR
3.2 Printing of Official Receipts -- Php 5,000.00
3.3 Community Tax Certificate -- Php 500.00
3.4 Barangay Clearance -- Php 1,000.00
3.5 Insurance -- Php 1,500.00
BUSINESS
3.6 Notarial Fees -- Php 200.00
PERMIT
3.7 Business Permit -- Php 2,500.00
3.8 Sanitary Permit -- Php 1,000.00
3.9 Garbage Fee -- Php 4,500.00
3.10 Signboard Fee -- Php 200.00

Estimated Cost Payable to Government -- Php 16,900.00

Sum Total Estimated Cost -- Php 66,470.00

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 -- Php 1,000,000.00
Subscribe Capital Stock -- Php 250,000.00
Paid – Up Capital -- Php 62,500.00

- FULL PAYMENT BEFORE PROCESSING -

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or
(032) 254 – 0865 www.cbos.com.ph
EMAIL US :
customersupport@cbos.com.ph
UPDATED AS OF DECEMBER 3, 2014