How to Have Your Online Business Registered with DTI this 2021 Posted On: January 15, 2021 | Last Updated: January 15, 2021 | Posted in Thoughts Are you seeing a huge opportunity if you start an online business RIGHT NOW despite the pandemic? Well, you're definitely not alone because 73,276 online businesses registered with the Department of Trade and Industry (DTI) between March 16, 2020 and August 16, 2020 ๐ฒ CRAZY, right? And to think that there were only 1,753 online business registrations before the quarantine. Who knew it would take a pandemic to persuade businesses to undergo digital transformation, and for more Filipinos to set up an online business? But this might also be because the Philippine legislators' are about to make a few reforms and regulations ๐ค But all side comments aside(haha), if you're thinking of starting an online business, and you want to know how to register yours with DTI, keep reading! ๐ Before we begin outlining the steps, let us first clarify the limitations of "๐ฃ๐ฆ๐ช๐ฏ๐จ ๐ณ๐ฆ๐จ๐ช๐ด๐ต๐ฆ๐ณ๐ฆ๐ฅ ๐ถ๐ฏ๐ฅ๐ฆ๐ณ ๐๐๐." When people say that their business is DTI-registered this ๐ฑ๐ผ๐ฒ๐ ๐ป๐ผ๐ mean that they: can issue receipts ๐ (see Bureau of Internal Revenue) are already incorporated & can trade financial assets ๐ค (see Securities and Exchange Commission) can legally operate their business in the city they are based in ๐ (see Mayor's Permit.) ๐๐ณ ๐ฎ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐ ๐ถ๐ ๐ฟ๐ฒ๐ด๐ถ๐๐๐ฒ๐ฟ๐ฒ๐ฑ ๐๐ถ๐๐ต ๐๐ง๐, ๐๐ต๐ฎ๐ ๐บ๐ฒ๐ฎ๐ป๐ ๐ป๐ผ ๐ผ๐๐ต๐ฒ๐ฟ ๐ถ๐ป๐ฑ๐ถ๐๐ถ๐ฑ๐๐ฎ๐น ๐ผ๐ฟ ๐ด๐ฟ๐ผ๐๐ฝ ๐บ๐ฎ๐ ๐น๐ฒ๐ด๐ฎ๐น๐น๐ ๐๐๐ฒ ๐๐ต๐ฒ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐ ๐ป๐ฎ๐บ๐ฒ ๐ฎ๐ป๐๐๐ต๐ฒ๐ฟ๐ฒ ๐ถ๐ป ๐๐ต๐ฒ ๐ฃ๐ต๐ถ๐น๐ถ๐ฝ๐ฝ๐ถ๐ป๐ฒ๐. Therefore, the more accurate sentence to use if you want to say that your business is registered with DTI is: "My ๐๐ช๐จ๐๐ฃ๐๐จ๐จ ๐ฃ๐๐ข๐ is registered under DTI." Business name registration is compulsory especially for those who plan to be single proprietors of their businesses. It must also be completed before the business starts operating. Now, let's talk about what documents and data should you prepare before registering your business name. First, you have to check if your business name is available in DTI's Business Name Registration Online Directory. We recommend preparing a list of at least five (5) alternative business names so you would have a back up name in case the first one you picked is not available. Make sure that you include a short description of your business. Next, decide if you want your business name to be used exclusively in a National, Regional, City/Municipality, or Barangay level. Take note that the cost of each jurisdiction varies: Barangay - 200 pesos City/Municipality - 500 pesos Regional - 1,000 pesos You also have to prepare the following details: Business address of you business Your personal information Your residential address After you have prepared all those details, you may go ahead and complete DTI's online registration form in DTI's Business Name Registration Online Portal. Once you complete and review the forms, and confirm your registration, DTI's BNRS will give you a ๐ฟ๐ฒ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ฐ๐ฒ ๐ฐ๐ผ๐ฑ๐ฒ. Please take note of the code since it will be used all throughout the process, and in getting an online copy of your Certificate of Business Name Registration. You will then be given details as to how you can pay the registration fee. You may pay via GCash, PayMaya, and even with your Credit or Debit Card. Do not forget to ๐ฝ๐ฎ๐ ๐๐ต๐ฒ ๐ฟ๐ฒ๐ด๐ถ๐๐๐ฟ๐ฎ๐๐ถ๐ผ๐ป ๐ณ๐ฒ๐ฒ ๐๐ถ๐๐ต๐ถ๐ป ๐๐ฒ๐๐ฒ๐ป (๐ณ) ๐ฑ๐ฎ๐๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ต๐ฒ ๐ฑ๐ฎ๐๐ฒ ๐ผ๐ณ ๐ฎ๐ฝ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป. Otherwise, you have to begin again. After your payment has been recorded in their system, DTI will email you the Certificate of Business Name Registration. If the transaction is successful but you have not been sent an email of your certificate, you may head over to DTI's Business Name Registration Transaction Inquiry page, enter the ๐ฟ๐ฒ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ฐ๐ฒ ๐ฐ๐ผ๐ฑ๐ฒ, and voila, you can immediately download your certificate! Pretty easy, right? But all that is really just to register your business name. If you want to issue receipts, legally operate your business, and make sure that your online business and your clients are protected by the law, the next step is to obtain the following: Barangay Clearance Mayor's Permit Registration Certificate from BIR We'll discuss how you can get the aforementioned in our upcoming posts ๐ So keep posted! AND CONGRATS for making it to the end of this post! There must be a reason why out of a billion people, YOU chanced upon this and read most of it ๐ ๐๐ณ ๐๐ผ๐'๐ฟ๐ฒ ๐น๐ผ๐ผ๐ธ๐ถ๐ป๐ด ๐ณ๐ผ๐ฟ ๐ฎ ๐๐ถ๐ด๐ป, ๐๐ต๐ฒ๐ป ๐๐ต๐ถ๐ ๐บ๐๐๐ ๐ฏ๐ฒ ๐๐ง ๐ค ALSO if you need a business address that does not hurt your profit margins, ๐๐ฒ ๐ต๐ฎ๐๐ฒ ๐ฎ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐ ๐ฎ๐ฑ๐ฑ๐ฟ๐ฒ๐๐ ๐ผ๐ป๐น๐ ๐ฝ๐ฎ๐ฐ๐ธ๐ฎ๐ด๐ฒ ๐๐ต๐ฎ๐ ๐๐ผ๐ ๐บ๐ถ๐ด๐ต๐ ๐ฏ๐ฒ ๐ถ๐ป๐๐ฒ๐ฟ๐ฒ๐๐๐ฒ๐ฑ ๐ถ๐ป. If you are interested, send us a message on Facebook & we'd gladly help you out! ------ About The Company Cebu: The Companyย is a co-working community that offers flexible, vibrant & ergonomic workspaces and office solutions for AWESOME + EXCEPTIONAL creators and creatives and their communities and companies all over the world. Members can opt to work in our co-working spaces or simply rent a private office to concentrate. Unlike most serviced office providers, you can choose to stay for a month or two without the hassle of signing up for a 12-month contract and paying a hefty security deposit fee once you sign up for a membership. We incubate businesses, help increase their business opportunities, and expand their market through our special service called Connected by The Company. This fresh approach to work lets us connect, create, and not merely survive but live and thrive! Dedicated Desks in The Company Cebu Mandaue Branch August 10, 2023 The Company Cebu offers two dedicated desk options: Dedicated Desk 24/7: Shape your work around your schedule with 24/7 access to our vibrant coworking space for 30 days. Dedicated Desk Lite: Embrace structure with a dedicated desk from 9 am to 7 pm on weekdays for 21 days. Read More... Artist-In-Residence Program at The Company Cebu August 7, 2023 Calling all aspiring artists! 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HITTOBE powered by The Company Opens Today April 11, 2022 The Company has opened a new branch inย Kagoshima, Japan called HITTOBE powered by The Company. Read More... Flexi Pass: The Most Flexible Plan in The Best Coworking Space in Cebu May 7, 2020 Co-working spaces have long been considered as one of the most suitable spaces for startups, and small teams because it … Read More... The Company: Co-working Space in Cebu with 24/7 Access Dedicated Desk November 13, 2019 The Company Cebu is a co-working space in Cebu that has a variety of workspace options for different types of professionals and businesses. One feature that most freelancers appreciate is the Dedicated Desk. The Dedicated Desk membership gives members 24/7 access and a guaranteed seat at the co-working space. Read More...
Clients Voice | An Intrepid Bookworm Discovers a Second Home November 21, 2022 | Thoughts, Space Features Good things truly come to those who wait, but better things are in store for those who strive and pursue it; Cheryl has experienced some of the biggest ups and downs with being a long-term client for The Company Cebu… Read More โ
How to REALLY Achieve Your New Year’s Resolutions for 2021 January 11, 2021 | Thoughts Another year is here, and we have yet another set of new year’s resolutions. Did you know that the failure rate of new year’s resolutions is 80%? How do we change this for the better? Continue reading to find out. Read More โ
10 Business Ideas to Explore and Venture Amidst The Pandemic January 5, 2021 | Thoughts The impact of the COVID-19 pandemic on Philippine businesses is tremendous. The hardest hit is micro, small, and medium enterprises (MSMEs). In fact, around 70% of MSMEs had no choice but to close down. However, more than 73,000 online businesses registered with the Department of Trade and Industry (DTI) between March and August, showing a shift in how Filipinos do business. Whether you’re a budding entrepreneur looking for a viable business option or an established business owner looking to pivot your existing one, here are some consistently high demand products and services to take inspiration from. Read More โ