Change Line of Business (LOB) Service
With our comprehensive business compliance and post-registration services, we can process various amendments to your incorporation and registration details, including the change of line of business, with the Securities and Exchange Commission (SEC), local government units (LGUs), and statutory agencies.
Line of Business (LOB)
A line of business (LOB) is a sector of the economy or industry that your company services. It defines your company’s product or service placed in a more specific market segment. For instance, if your company sells car insurance, it falls under the “insurance” line of business, while if it manufactures medical devices, it can be classified under “health care.”
Changing Lines of Business
In the Philippines, different economic sectors or industries are bound by varying laws, regulations, and tax rates. For instance, business taxes—especially those imposed by local government units (LGUs)—vary based on your line of business (e.g., manufacturing, wholesale, importation, etc.). If you change your business activity, you must properly retire the previous line to avoid tax complications, penalties, or continued tax obligations for a business activity you’re not longer engaged in.
Documentary Requirements
Generally, documentary requirements vary depending on your business type, structure, and the regulatory agency involved. You may be required to submit a request letter, completed amendment forms, key documents like your Articles of Incorporation and General Information Sheet, as well as previously issued business registration certificates.
How to Change Line of Business in the Philippines
Changing or adding lines of business requires considerable paperwork, time, and resources, as the process involves coordinating with the same government agencies where you registered your business—that is, starting from the SEC (for corporations and partnerships) to various statutory agencies.
File the Amended AOI and GIS with the SEC.
For corporations and partnerships, we begin by amending the Articles of Incorporation (AOI) and General Information Sheet (GIS) to reflect the new line of business (LOB) and file them with the SEC.
Update Your LGU Business Permits.
Once the SEC approves the documents, we proceed with retiring and registering your line of business with the LGUs. We ensure organized preparation, prompt filing, and completion within the set timelines.
Obtain New BIR Certificate of Registration (COR).
Other than PWP application, we also process visa and other work permit renewals and extensions and other immigration compliances. Check our Visa and Immigration Services page for more details.
Update Registrations with Statutory Agencies.
While not as critical as updates with the BIR and BPLO, filing amendments with SSS, PhilHealth, and Pag-IBIG is still mandatory. We handle the filings simultaneously with the respective branches and can secure the updated documents within weeks.
Comprehensive, Efficient, and Compliant
We can help you turn your business vision into reality as we handle the legal and technical complexities while you boldly step into the next exciting chapter.
Why Choose FilePino’s Change of Line of Business (LOB) Service?
Ready for a new business direction? Let our expert and experienced team assist you with the Change of Line of Business and make the necessary compliances. We’ll help you turn your business vision into reality as we handle the legal and technical complexities while you boldly step into the next exciting chapter.
FilePino is a leading and trusted Change of Line of Business service provider in the Philippines. Based in Bonifacio Global City (BGC), Taguig, Metro Manila—one of the country’s most dynamic and thriving business hubs—we are strategically positioned to serve your business needs.
Expertise and
Experience
We guarantee that our team and liaison officers are updated with the latest regulations, expert in document filings, and experienced in navigating the intricacies of government transactions.
Compliance Monitoring
and Updates
We ensure that your filing deadlines are monitored to ensure continuous compliance with the regulatory frameworks and keep you on track with the progress of all ongoing transactions.
Risk Management
Solutions
We have dealt with and resolved various compliance issues, so we have identified all potential risks and devised strategic risk management solutions to help mitigate them and avoid hefty penalties.
Holistic Business
Support
With our sister companies, we can provide you access to a full suite of business compliance services, such as business permit renewal, filings of amendments, and legal assistance.
Change of Line of Business (LOB) FAQs
What is a Line of Business (LOB)?
A line of business (LOB) is a sector of the economy or industry that a company or business services. It defines the company’s product or service as placed in a more specific market segment. For instance, a company that sells car insurance would fall under the “insurance” line of business, while one that manufactures medical devices would be classified as “health care.”
How is a Line of Business used in business management?
Most large enterprises use LOB as a synonym for corporate division to decide how different departments meet customers’ needs. If a company, for example, is engaged in both manufacturing and sales of certain products, then manufacturing and sales are two important divisions of the business operations.
What document sets the Line of Business?
The primary and secondary purposes, as indicated in the approved Articles of Incorporation (AOI), set the line of business and other activities that the corporation can legally engage in. As a general rule, the primary purpose of the corporation determines its classification.
What Lines of Business are not allowed to be at the same time?
The business activities of overseas recruitment and travel agencies cannot be in a single entity pursuant to the implementing rules and regulations of the Labor Code of the Philippines. Additionally, a corporation, both as a sole or religious society and a school, is also not allowed, as the school should be incorporated distinctly from a religious corporation.
Why should Lines of Business be properly registered and retired?
Different laws, regulations, and tax rates apply to different lines of business. When changing the line of business, the old line must be properly retired by filing applications with the concerned government regulatory bodies and LGUs for discontinuance of compliance requirements and tax collections.
What is the process for changing the Line of Business?
Like other amendments to the incorporation details, the process starts with the SEC filing and continues to the LGUs and other government regulatory bodies, which include the barangay, the city or municipal government (BPLO), BIR, and statutory agencies. Updated permits, licenses, and registration certificates that reflect the new line or business are issued after the successful amendments.
How long does it take to process?
The change, retirement, and addition of lines of business filed with all the concerned government regulatory bodies and LGUs may take months, which also depends on factors, such as the complexity of transactions, compliance requirements, and efficiency in the agencies.
