Before you get to operate your very own business, you need to secure a registration of your business at the Department of Trade and Industry, also known as the DTI. DTI handles sole proprietorship business or the business has a single owner. There are other government agencies who handle other lines of business ventures such as the SEC or the Security and Exchange Commission for the corporations and partnerships and or the cooperatives, the CDA or the Cooperative Development Authority is in charge.
For you to have a smooth sailing business without stepping off from the legal bandwagon of the country, you would be needing DTI registration for your sole proprietorship business. Check out our step by step guide on how to acquire your DTI registration the easiest way possible.
- Think of your business name. Your business name is not just a name that you thought of randomly then boom you have decided that you will live with that name and call it yours. There are certain rules that are needed to be followed before your business name would be approved. Check them out below for your reference:
- The business name should not be made of generic words.
- It should reflect the quality of goods or services that you offer.
- It should not resemble other existing business names in the market and should not be used illegally or in a scandalous operation.
- It should not use government abbreviation or national organization.
- The name should not be deceptive or misleading or inappropriate.
- Choose between the two types of DTI registration:
- Over the counter registration and the
- The online registration
- Over the Counter Registration
The traditional way of securing your DTI registration is through the over the counter registration. The steps to follow for this type is detailed below:
- You need to know the location of the nearest DTI office in your area. There are 76 DTI offices all over the country and you can check their exact address and location through this website.
- Only the business owner or the authorized person with special power of attorney has the right to secure the forms from DTI and do the registration.
- You must be of legal age with a minimum age of 18 years old; of sound mind; and a Filipino citizen.
- For those who have a medical inclination or professional services rendered for their business venture, additional requirements would be a prerequisite such as licenses and the like.
- Submit your application form to the DTI personnel and the availability of the name will be checked. It is better to be prepared with at least ten names or more so that your time will not be wasted.
- If the name is available, the next step will be to pay the necessary fees and they are as follows:
- Barangay: Php 200
- City or Municipality: Php 500
- Regional: Php 1000
- National: Php 2000
- Once you have secured the payment of fees, you can go to the DTI processor to get your business name certificate. This will be valid for five years.