Do you want to start a business in the Philippines but don't know where to begin? Are you feeling overwhelmed by all the steps and legal requirements necessary to get started? Don't panic - I was in your shoes once upon a time!
Getting your business name registered with DTI (Department of Trade and Industry) is one of the first steps of setting up a business legally. Doing so can ensure that no other entity has registered the same or similar name, helping you avoid possible legal issues down the line.
In this article, I'll be walking you through step-by-step how to go about registering your company name with DTI in the Philippines.
Understanding the DTI Business Name Registration Process
When registering your business with DTI, you will need to provide a business name (BN) that is distinct from your own name.
Research the availability of your chosen business name on DTI's website to confirm whether it can be used.
Register through DTI's Business Name Registration System, if your desired business name is available. Make sure to note the reference code given for future use of BNRS.
Complete your online registration form and then follow the instructions. Payment for the registration fee must be made within 7 calendar days from the application date, and can be paid via GCash, Credit/Debit Card, or through a eWallet such as oayMaya.
Registration fee:
| Territorial Scope | Fee |
| Barangay | P200 |
| City/Municipality | P500 |
| Regional | P1,000 |
Once you have made payment, your Business Name will be registered. To download your certificate, go to Transaction Inquiry, read and agree to the Terms and Conditions, then enter the reference code from the registration form.
Choosing the Right Business Name
When registering your business name with the Department of Trade and Industry (DTI), it is important to choose a name that reflects the purpose and nature of your business. There are a few tips you should consider when selecting an appropriate name for your company.
First, try to pick a unique and memorable name that is easy to pronounce. The goal is for your customers to associate the name with your products or services, so it should be distinctive and catchy.
Secondly, double-check if the desired name has already been taken by another entity in the Philippines. You don’t want any confusion or potential legal issues down the road associated with trademark infringement!
Finally, make sure that all words used in the company name do not violate any existing prohibitions within Philippine law such as using certain words in the company's registered title or using offensive words or expressions. Additionally, avoid selecting names too similar to those of existing organizations or businesses as this may also bring about possible legal issues.
Overall, due diligence is key when selecting a business name and will best serve prospective business owners for success when registering their venture with DTI.
Common Mistakes to Avoid During DTI Registration
Common errors made during the registration process include not filling out all the required information, not providing proof of business address, typos or errors in spelling or abbreviations, and submitting too many or too few documents.
To avoid potential delays with your registration, double-check all the information you submit. Make sure you include up-to-date contact information such as email and phone number and that all spelling is correct. Also make sure to attach any documents necessary for the registration process as well as an accurate listing of what documents were attached to your application. Following these tips can help ensure a smooth and hassle-free registration process with DTI!
Conclusion: Register you Business Name with the DTI Now!
In conclusion, registering your business name with the DTI is a necessary and important step for any business. Not only does it make your business official, but it also protects you from potential legal issues that could arise in the future. Once you've gone through the process and have your business name approved, you're ready to start tapping into all of the amazing opportunities that entrepreneurship in the Philippines has to offer! Good luck!
