PHILIPPINES Sole Proprietorship Business Setup
Sole Proprietorship Business Setup
This allows the owner of a sole proprietorship to enjoy all the profits – at the disadvantage of suffering all the losses, and responsibilities for debts and all liabilities.
Sole Proprietorship is a structure in the Philippines for a business owned by just one individual who has all the authority in the company and full control of its assets. This allows the owner of a sole proprietorship to enjoy all the profits – at the disadvantage of suffering all the losses, and responsibilities for debts and all liabilities.
Requirements:
- Applicant’s valid proofs of identity
- Minimum capitalization requirement with a local bank
- Authority to verify Bank Accounts/Bank Certificate of Deposit
- TIN registration
- Clearance from other involved agencies
- Obtained business permit and mayor’s license from the city of operations
Procedure:
- Secure business name from DTI
- Present accomplished forms for processing and evaluation
- Present verification from local bank of minimum paid up capital
- Present other necessary requirements (for foreign or corporate applicants)
- Pay required processing fees
- Claim registration from DTI’s records division
- Complete licensing with all applicable government agencies
A Sole Proprietorship and its owner are almost one and the same, having ownership of the same real property, TIN, and applicable tax laws. One of the major advantages of having a sole proprietorship is the ability to use a different registered business name.
BGC and Co. CPAs services include:
- Registering the sole proprietorship with DTI
- Securing local government registrations
- Sourcing out the commercial space
- Providing HR consulting and aid in drafting employee contracts
- Recruitment and executive search
- Outsourced accounting and bookkeeping services
- Payroll services
- Annual compliance
A sole proprietorship is a good way for an individual to set-up a business that will only participate in one or two primary objectives and have a very simple operation structure (e.g. small franchise, retail store). BGC and Co. CPAs can help you with the requirements and procedures to ensure the quick processing of your application and precipitate the commencement of your business.
BGC and Co. CPAs is a mid-sized progressive auditing firm providing comprehensive set of cost effective solutions to organizations like yours.
Our services include auditing, accounting, bookkeeping, business management, and HR consulting. Further, we provide other business services like VISA processing in Bureau of Immigration (BI), Philippine Retirement Authority (PRA).
We are equipped with state of art tools and techniques along with dedicated professional to evaluate potential opportunities and risks effective auditing and assurance services. We understand a value adding auditing and assurance service focus on scope of business improvement rather than merely preparing financial statements and reporting on figures.
The firm was formed to assist clients on the preparation of compliances relating to tax, financial management, forecasting and accounting software and system installation. Assist clients in tax investigations, internal auditing procedures and provide on financial, taxation, accounting and auditing matters when needed. Processing of business registration, cancellation / termination.
Our Mission
Deliver reliable cost effective professional services in time meeting specific customer requirements.
Our Vision
To become one of the best auditing and accounting firm in the Philippines providing the utmost satisfaction to all the clients. We would like to be known as one of the finest company to partnered with in all the aspects.
Our Team
Our teams of dedicated professionals led by senior qualified accountants are obliged to give you quality services which will enable you to serve your clients better and there by improve your business. We together with our associates enable to give you the best in the industry.
ABOUT OUR SERVICES
Auditing and Assurance
We are equipped with state of art tools and techniques along with dedicated professional to evaluate potential opportunities and risks delivering effective auditing & assurance services. We understand value adding auditing and assurance service focus on scope of business improvement rather than merely preparing financial statements and reporting on figures.
Our expertise in analyzing accounting systems, designing better systems with proper internal controls and management information reporting help our clients to adequately plan their business building strategy and give them the confidence to pace up with the rapidly growing economy.
Accounting and Bookkeeping
Accounting and bookkeeping is a necessity of every organization irrespective of its size. Our professionally qualified and experienced accountants understand and analyze business transactions and ensure compliance with the accounting standards. BGC has well trained staff familiar with many of the accounting system and most especially to the rapid changes in the BIR rules and regulations. Qualitative and timely accounting reports are crucial for the success of any business organization. BGC ensures relevant and reliable financial reports are delivered on regular intervals to assess performance and to facilitate decision making. Outsourcing of accounts department helps you to get professional expertise at lower cost and BGC provides the most efficient and effective bookkeeping solutions.
We assist you with below services:
• Accounts preparation and supervision
• Preparation and presentation of financial reports
• Bookkeeping services
• Payroll processing
• Training of accounting staff
Business Set-up and Termination
We do assist in setting up different types of business organizations through registrations to different government agencies such as:
• Securities and Exchange Commission (SEC);
• Bureau of Internal Revenue (BIR);
• Local Government Unit (LGU);
• Department of Trade and Industry (DTI);
• Social Security System (SSS);
• Philippine Health Insurance (Philhealth);
• Pag ibig;
• Food and Drug Administration (FDA)
We also assist our foreigner clients for the following:
• VISA extension;
• Bureau of Internal Revenue (BIR);
• 9g VISA;
• Special Resident Retiree’s VISA (SRRV)
• Social Security System (SSS);
• Passport Renewal
SERVICES
CONTACT US
ADDRESS
- 7TH FLOOR, PCCI CORPORATE CENTER, L.P. LEVISTE ST., SALCEDO VILLAGE, BRGY. BEL-AIR MAKATI, PHILIPPINES 1209
- Info@bgcco.ph
- lconvento@bgcco.ph
- Working Hours : 8:00 a.m - 5:00 p.m
PROFILE
AUTHORIZED INSTITUTION
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