Local and foreign investors who establishes corporations, partnerships or associations in the Philippines are required to register their business entities with the Securities and Exchange Commission (SEC) before they can conduct business activities and participate in the country’s securities market to buy or trade shares of stock, bonds, interests in a company, and other types of financial assets.
Department of Trade and Industry (DTI):
Self-employed borrowers who runs a sole proprietorship business entity must register with the Department of Trade and Industry (DTI). Registering their business gives them the legal right to run it for five years and must be renewed to continue its legal validity. Failing to do so will result in an additional 50% of the registration fee as a penalty. Additionally, It is important to note that securing a business name is not a license to operate. It is just one of the documentary requirements when you register a business.