A Sole Proprietorship is a business structure owned by an individual who generally has full control and authority over the business. The business owner is referred to as the “sole proprietor” and exclusively owns all assets and profits of the business. He or she is also personally liable for all the debts and losses that the business might incur.
As the simplest form of business in the Philippines, the business registration process for a sole proprietorship is relatively easy. Sole proprietorships are also the easiest to run since they do not have the same formalities and regulations that corporations and partnerships have, such as board meetings, board elections, share capital, etc.
Since the law treats the owner and the business as the same, the sole proprietor only needs to register his or her name with the Department of Trade and Industry (DTI) and secure local licenses and permits to commence business operations.
Here’s a step-by-step process for registering a sole proprietorship in the Philippines:
Most small businesses in the Philippines start as sole proprietorships and progress to other business structures as they mature and increase profit. Since the Philippines does not adopt the legal concept of Limited Liability Company (LLC) or Private Limited Company (PLC) like many countries such as the United States of America, United Kingdom, and Singapore, the closest entity that Philippine sole proprietorships commonly transition to is a domestic corporation. A domestic or subsidiary corporation is a set of juridical persons established under the Corporation Code of the Philippines and regulated by the Securities and Exchange Commission (SEC). Unlike sole proprietorships, the legal entity of domestic corporations is distinct from their company owners so individual assets are separate from those of the company. Liabilities are also limited to the amount of an owner’s share capital.
BGC and Co. CPAs has registered hundreds of local and foreign companies in the Philippines. Our full spectrum of corporate services is guaranteed to help you enjoy a seamless business registration process.
A sole proprietorship is a good way for an individual to set-up a business that will only participate in one or two primary objectives and have a very simple operation structure (e.g. small franchise, retail store). BGC and Co. CPAs can help you with the requirements and procedures to ensure the quick processing of your application and precipitate the commencement of your business.
BGC and Co. CPAs is a mid-sized progressive auditing firm providing comprehensive set of cost effective solutions to organizations like yours.
Our services include auditing, accounting, bookkeeping, business management, and HR consulting. Further, we provide other business services like VISA processing in Bureau of Immigration (BI), Philippine Retirement Authority (PRA).
We are equipped with state of art tools and techniques along with dedicated professional to evaluate potential opportunities and risks effective auditing and assurance services. We understand a value adding auditing and assurance service focus on scope of business improvement rather than merely preparing financial statements and reporting on figures.
The firm was formed to assist clients on the preparation of compliances relating to tax, financial management, forecasting and accounting software and system installation. Assist clients in tax investigations, internal auditing procedures and provide on financial, taxation, accounting and auditing matters when needed. Processing of business registration, cancellation / termination.
Deliver reliable cost effective professional services in time meeting specific customer requirements.
To become one of the best auditing and accounting firm in the Philippines providing the utmost satisfaction to all the clients. We would like to be known as one of the finest company to partnered with in all the aspects.
Our teams of dedicated professionals led by senior qualified accountants are obliged to give you quality services which will enable you to serve your clients better and there by improve your business. We together with our associates enable to give you the best in the industry.
ABOUT OUR SERVICES
Auditing and Assurance
We are equipped with state of art tools and techniques along with dedicated professional to evaluate potential opportunities and risks delivering effective auditing & assurance services. We understand value adding auditing and assurance service focus on scope of business improvement rather than merely preparing financial statements and reporting on figures.
Our expertise in analyzing accounting systems, designing better systems with proper internal controls and management information reporting help our clients to adequately plan their business building strategy and give them the confidence to pace up with the rapidly growing economy.
Accounting and Bookkeeping
Accounting and bookkeeping is a necessity of every organization irrespective of its size. Our professionally qualified and experienced accountants understand and analyze business transactions and ensure compliance with the accounting standards. BGC has well trained staff familiar with many of the accounting system and most especially to the rapid changes in the BIR rules and regulations. Qualitative and timely accounting reports are crucial for the success of any business organization. BGC ensures relevant and reliable financial reports are delivered on regular intervals to assess performance and to facilitate decision making. Outsourcing of accounts department helps you to get professional expertise at lower cost and BGC provides the most efficient and effective bookkeeping solutions.
We assist you with below services:
• Accounts preparation and supervision
• Preparation and presentation of financial reports
• Bookkeeping services
• Payroll processing
• Training of accounting staff
Business Set-up and Termination
We do assist in setting up different types of business organizations through registrations to different government agencies such as:
• Securities and Exchange Commission (SEC);
• Bureau of Internal Revenue (BIR);
• Local Government Unit (LGU);
• Department of Trade and Industry (DTI);
• Social Security System (SSS);
• Philippine Health Insurance (Philhealth);
• Pag ibig;
• Food and Drug Administration (FDA)
We also assist our foreigner clients for the following:
• VISA extension;
• Bureau of Internal Revenue (BIR);
• 9g VISA;
• Special Resident Retiree’s VISA (SRRV)
• Social Security System (SSS);
• Passport Renewal
独资企业注册 – 菲律宾
由于法律将所有者和企业一视同仁，因此独资经营者只需在贸易和工业部 (DTI) 注册其姓名并获得当地执照和许可证即可开展业务。
在 DTI 注册企业名称以获得 DTI 注册证书；
在业务所在的 Barangay 办事处注册，以获得 Barangay 商业登记证书；
在美国国税局 (BIR) 注册以获得注册证书。
菲律宾的大多数小企业都是从独资企业开始的，随着它们成熟并增加利润，它们会发展到其他业务结构。由于菲律宾不像美利坚合众国、英国和新加坡等许多国家那样采用有限责任公司 (LLC) 或私人有限公司 (PLC) 的法律概念，因此菲律宾独资企业通常过渡到最接近的实体。是一家国内公司。国内或子公司是根据菲律宾公司法成立并受美国证券交易委员会 (SEC) 监管的一组法人。与独资企业不同，国内公司的法人实体与其公司所有者不同，因此个人资产与公司资产是分开的。负债也仅限于所有者的股本金额。
BGC and Co. CPAs 已在菲律宾注册了数百家本地和外国公司。我们提供全方位的企业服务，保证帮助您享受无缝的企业注册流程。
想了解更多欢迎联系和咨询我们，中文 微信BGC998 电报@BGC998