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SOLE PROPRIETORSHIP

business registration services

SOLE PROPRIETORSHIP

In the Philippines, a sole proprietorship is a type of business registration where an individual operates a business on their own. This means that the business and the owner are considered as one and the same legal entity, and the owner has full control over the business operations.

To register a sole proprietorship in the Philippines, the owner must secure a Barangay Clearance, Mayor’s Permit, and a Business Name Registration from the Department of Trade and Industry (DTI). The owner must also obtain other necessary licenses or permits required for their business, such as a business permit from the Bureau of Internal Revenue (BIR) and other regulatory agencies.

Once registered, the owner of a sole proprietorship in the Philippines is personally liable for all business obligations, and the business income is reported as part of the owner’s personal income in their tax return.

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