The Business Registry in the Philippines
In most countries, this authority is the Trade Register. In the Philippines it is known as the Business Registry (PBR). However, in certain cases, the company registration process in Philippines must be completed with the Securities and Exchange Commission (SEC) or with the Department of Trade and Industry.
Our Philippines company formation agents can assist with the incorporation process of a business.
What is the role of the Philippines Business Registry?
We already mentioned that the registration procedure of a Filipino company can be completed with one of the institutions above. This is the main reason for the government to create the Companies Registrar: to gather all the procedures related to starting a business in Philippines under one umbrella.
The Philippines Trade Register is an online portal which during the next several years will:
- act as national database with all the companies incorporated in Philippines;
- issue the Philippines Business Number to each company to be registered;
- enable a one-stop shop for transactions between the government and companies.
It should be noted that the PBR was recently enabled. If you want to open a company in Philippines, the incorporation process must be completed with the SEC at the moment.
What can one do through the Business Registry in Philippines?
The company registration procedure is not the only action which can be completed through the Philippines Companies Register. Foreign investors seeking information about a Filipino company can search the Business Registry as part of the company due diligence process. The Trade Register is the most reliable source for company verification in Philippines.
For full information on the Business Registrar and its role, please feel free to contact us. Our local advisors can also assist with the preparation and filing of the documents related to company registration in Philippines.