At the start of the venture, business owners need to secure a permit from the city hall and barangay of the location where the business will operate. All registered companies in the Philippines are mandated to renew its business permit each year in order to resume the normal course of operations and regularization of their business.
In order for you to have a better understanding of the business permit renewal process, here’s a quick walkthrough:
Renew your Barangay Permit
You need to renew your Barangay Permit to acquire a new mayor’s permit from your city hall. Getting a renewed Barangay Permit does not take much time, as you can typically get a new permit in the same day if you apply in the morning.
Original copy of your Barangay Permit issued in the previous year
Original copy of your Official Receipt issued in the previous year
Get a renewal form from the barangay hall, fill it out, and submit it along with other requirements at the Barangay Permit Division.
Your form and requirements will be assessed. If there are no missing requirements or corrections, you will then be instructed to pay the necessary fees.
You can claim your new Barangay Permit on the release date stamped on your official receipt.
Renew your Mayor’s/Business Permit
Once you have your Barangay Permit, you can then process the renewal of your Mayor’s/Business Permit.
New Barangay Permit
Original copy of official receipt from the previous year’s Mayor’s/Business Permit
Income Statement issued from the previous year
Contract of Lease for the current year
Community Tax Certificate (also known as CTC or Cedula)
Accomplish the application form from the Business Permits and Licensing Office from the municipal hall of your business’ location. Submit the form together with the requirements for evaluation.
If there are no missing requirements or corrections, proceed to the payment section and pay for the fees specified by the assessor.
Once your payment is processed, you will receive a copy of payment issued by the City Treasurer’s Office. You’ll need to present this copy when claiming your Mayor’s Permit.
You may claim your new Mayor’s Permit on the date indicated on your official receipt.
Renew your BIR Certificate of Registration (COR)
Renewing your annual business registration at the BIR is an important step, as failure to do so before the end of January of the current year can result to fines of P5,000 up to P20,000.
Completed BIR Payment Form 0605. You can download a copy of this form here.
Look for your designated Revenue District Office or RDO from the BIR website. Proceed to your and request assessment of your requirements from the officer-of-the-day.
Pay the annual registration fee at any bank accredited by the BIR in your RDO. You need to pay the annual registration fee for each separate establishment or venue of business.
FilePino is uniquely positioned to help you set up your new business here in the Philippines. If you’re just starting a new company, we have the contracts and knowhow to grow your business quickly.
Or send us a message here.