How to register a PARTNERSHIP with the Philippines SEC

Okay, so what we have here now is four (4) simple steps for you to register as a partnership in the Philippines.  The way of registering a partnership is somehow similar to that of a corporation.  

1. Verify and reserve the proposed partnership name. You could do this the hard way, at the SEC Verification Unit, located at the SEC Building, EDSA, Greenhills, Mandaluyong City (right across the Philippine Overseas Employment Administration [POEA] and the EDSA Shrine). If you want to make your life a bit easier, you could do the verification and registration online, through the SEC-iRegister, a 24-7 portal. After paying the reservation fee, you will get a Name Verification Slip, which is submitted together with the other requirements.

2. Prepare the Articles of Partnership. This is equivalent to the Articles of Incorporation, which is one of the required documents for corporations. 

3. Prepare the: (i) Written Undertaking to Change Partnership Name by any Partner; and (ii) Registration Data Sheet. There are additional requirements for certain partnerships, like customs brokerages, which are required to submit the customs broker licenses and professional tax receipts (PTR) of at least two partners.

4. File the complete documents with the SEC, upon payment of the requisite filing fees.

Should need a more detailed process you can always check out the Securities and Exchange Commission.   

Advertisements

63 thoughts on “How to register a PARTNERSHIP with the Philippines SEC

  1. Ask ko lng po,may plano po kmi ng friend ko na magtayo ng business.Bale business partnership.Tama ba n nka indicate s isang agreement nmin n sya ang General Manager wherein d nman nka indic ate ang position ko?Ok lng po b yun?

    1. yes, that can be. kung silent partner ka lang. meaning, sya yung magpapatakbo ng business. pero kung gusto mo naman may position ka, that can be done also. it really depends on what partnership you wanted to form and agreed upon.

  2. Hi there!
    I’m an aspiring business woman aiming to register my business under gen. partnership, but I don’t know the in and outs of registration, can you help me with this? and would you also have the knowledge about Small Medium Business Enterprise(BMBE)?

  3. Hi there!
    I’m an aspiring business woman aiming to register my business under gen. partnership, but I don’t know the in and outs of registration, can you help me with this? and would you also have the knowledge about Small Medium Business Enterprise(BMBE)?

  4. Hi Bong, I hope you could also include the prices as I asked in your article about registering a corporation. It’ll be a lot of help for us, your readers. Thanks!

  5. Good afternoon ma’am or sir.. I would to clarify if this content is this step in corporation was really the same on the step in partnership? I need your answer ASAP.. Thank you..

  6. Good afternoon ma’am or sir.. I would like to clarify if this content is this step in corporation was really the same on the step in partnership? I need your answer ASAP.. Thank you.

  7. Hi Bong, do you know of an individual or firm which specializes on establishing a professional partnership of civil engineering practices. In view of the uniqueness (or perhaps old law -civil engineering law- ra544) of civil engineering practice to other engineering disciplines, can anyone assist us on crafting an article of professional partnership.

    thanks

  8. I want to know that if somebody have paramanent Visa but not Citizenship of Philippines> if wife is Philippino and husband is Indian. If Husband wants to do Business of Import Export in Philppines. How they can start the Business.

  9. I am an Indian. I am going to marry with Philippino, after marry with Philippino I will get Paramanent Visa of Philippines. I have a plan to do Import Business in Philippines. But my wife does not like involve in Business as Partner , She want to stay with me as a House wife. What I should do.?

    What is the difference between Citizen of Philippines and Parmanent Residence. Both have a equal rights or any difference is there. OR after marry with Philippino I will treat as foreigner?

    Please try to clear me everything , Then I will try to contact with you.
    Thanks.

    1. Hey Mahendera,

      Yes, you can establish a business in the Philippines if you will apply for a 13A permanent visa. Of course, a 13A visa is applicable to a foreigner legally married with a Filipino citizen. There are pretty much differences between a resident and a citizen but of course you will be allowed to stay indefinitely in the Philippines.

      Thanks for dropping by.

  10. Hi, Is it easy to change our sole proprietorship buss to a partnership?, currently is a sole proprietorship with side contract with my partner, but we want to get this straight so we’re eyeing into a partnership, or what do you suggest?… how easy is it… thanks Bong

  11. Hi..ask ko lang plan kasi ng friend ko na mag set up ng partnership business but ang partner nya ay foreigner..ano ba set up nun..or requirements needed…documentation….may certain percent ba na own lang dapat ng foreigner i mean limit ng ownership nya??dapat ba filipino citizen ang majority owner??ano mga steps para mag register dadaan pa ba ng DTI??please help me clarify everything..

    Thanks

  12. Hi, I have a business and registered as sole proprietorship. And I have a friend who wants to be a silent business partner. Is it possible to prepare a partnership agreement without changing the type of business and the partnership agreement will not be registered to SEC?

    1. Yes Eleonor, it is possible to execute Memorandum of Agreement (MOA) between you and your partner without changing the type of your business and SEC intervention.

      1. hi sir bong .. meron po kc kame situation nung partner ko in business .. sa kanya lng kase nakapangalan ung business namen pero dalawa talaga kame may ari nun .. first business ko kc to kaya akala ko nun ok lang na sole proprietor lng muna namen iparegister ung buss kaya sa kanya muna ipinangalan un kase nagmamadale kame sa opening nun.. ngayon kaylangan ko ung documents na nakaindicate ung name ko na isa aq sa may ari .. panu kaya gagawin ko sir .. thanks

      2. Jayson,

        Pag DTI yung registration, yung partner mo lang talaga ang may-ari ng business nyu. Dapat partnership yung ni-register nyu sa SEC.

        Ang pwede mo na lang gawin to protect yourself, gawa na lang kayu ng MOA. Pero, hindi na pwede maindicate yung name mo sa documents unless iparegister nyu sa SEC as partnership.

    1. Hello Obenjie,

      Yes, pursuant to Art. 1767. Partnership means two or more persons bind themselves to contribute… the partners must have legal capacity to enter into a contract and the purpose of which must be lawful. Php200K will do in terms of capitalization.

      Please refer to the SEC in terms of capitalization in here.

  13. Bong additional questions:
    1. Under articles of partnership, submission of Financial Statements and special audit reports are included/required?
    2. Prior submission of SEC required documents, do I need to include BIR-COR/TIN?

    We appreciate your kind response.

    Thanks again.

  14. Bong, kindly expound these… ” That the term for which said partnership is to exist is One (1) year from the original recording of the said partnership by the Security and Exchange Commission ”

    Thanks again.

  15. Hi po is there any one here knows how to unregister of Dissolve Partnership? na co confuse kase kame sa bawat punta namin ng govt agencies iba iba sinasabe.. thank you po sa mga may infos…

  16. Hi there, just want to know if is it okay to declare our business as a single proprietorship even if we are actually business partners? Is it illegal or not?

  17. Hi there!
    We would like to register a partnership, but could you enlighten us what “Written Undertaking to Change Partnership Name by any Partner” is? What is the purpose of this?

    Thank you very much in advance!

  18. Hi Sir Bong, thanks very much.

    Sir, is a proof of partnership bank account required for SEC registration po? Like Treasurer’s Affidavit in Corp business?

    How long does it normally take from partnership name to all SEC registration and requirements approval po Sir?

    Thanks so much po.

  19. Hi Bong,

    Ask ko lng po, kung magkano yung payment on registering the Business,
    right now kc ready na yung Auto care center our concern is hindi pa register.
    ano po yung mga dapat na bayaran to complete all the required registration.

    salamat & Godbless!

    1. Hi Weng,

      The cost of business permit is dependent on what city or municipality you want to register your Business. You can check this out with the city’s (municipal’s) business permit & licensing office where you want to put up your business.

  20. Hi Bong,
    ask ko lang kc nag open kami ng business ng mga friends ko Auto care center, pero yung name sa DTI ay pang single proprietorship lang oki lang po ba yun?

  21. Hi how much po ba mag registered sa SEC ang sabi po kasi based sa capital so, 500,00 po ang puhunan namin and then partnership po kami. Thank you in advance! 🙂

  22. Tanong ko lang po. Registered na kami sa sec as partnership. However yun pa lng nagawa namin, walang business permit, etc. coz isusunod lang sana nmin if may money na. 1 year na po lumipas and we are still selling now thru online lang(no physical store/home based) but we are not selling well na. Need your advice po kasi baka habulin kami for annual dues and stuff. Meron po ba un? What can we do? We still want to continue though kahit mabagal progress. Hoping for your expert advice. Thanks!

    1. Je,

      Ang isang business para maging legal ang transaction dapat naka rehistro at may business permit. Kung ako sa inyo, kumuha kayu ng business permit at ipa rehistro sa BIR. Kung inaakala nyu naman naman na mabagal ang progress, mas mainam pa din na legal.

      Sa bandang huli, lumalabas na mag kakaroon kayo ng penalty kung ang inyung business ay may atkdang buwis na hindi nababayaran. Sunod dyan, yung penalty nyu sa SEC sa mga requirements na dapat ipasa.

      1. Thank you for your reply! Kailan po ba magkakaroon ng penalties? Minimal na po ang activity ng business as of now kasi medjo busy sa ibang things but yung materials po ay naka-standby lang. Is it possible if mag register kami sa BIR after, like, a year if gusto na namin ituloy ulit? Considering na registered kami as partners sa SEC? Or should we consider calling off the partnership? Please enlighten me, worried lang po kasi ako kasi wala pa tlaga permit. nagkataon lang po tlaga na after few months na registered kami sa SEC, wala na din gaanong activity sa business.

  23. Greetings po Sir Bong,

    Nagbalak kami magbuo ng partnership, kaso foreigner po ang aking partner. Possible ba maregister ang partnership? If not, ano po ba ang magandang gawin?

    Thanks in advance po. Awating for positive response with this regard.

  24. Hi Mr. Bong,

    Same as above queries by Mr. Mark Angelo dated July 27, 2016. Limited funds lang capital namin, as stated ng batas my mga restriction at may capital na kailangan. May paraan ba na pwedeng marehistro ang Partnership na may non-Filipino Partner? meron akong nabasa “Under LIST B: #11. Contracts for the supply of materials, goods and commodities to government-owned controlled
    corporation, company, agency or municipal corporation (Sec. 1 of RA 5183)” meron ba required capital dito? Or yung Technical & Maintenance Services san ba nakasaad? yan po ang gusto namin hanggat maari.

    Many Thanks.

  25. hi! Good Day, sir Bong i have a friend at tatanong siya sa akin regarding sa business partner actually active na po ang sole proprietor operation at what should i do kung papalitan ng may ari from sole proprietor to partnership? at magkano ba dapat ang investment nya? Actually ang investment ng friend ko P350K at magkano po dapat paid-in capital ng dalawang partner nya?

  26. Sir, if i and another foreign partner want to start a hotel cum grocery in Philippines at a cost of 300000 pesos with 40 percent 60 percent investment which Government department’s approval certificate is needed. Is the investment of 300000 pesos is ok with SEC .

      1. Sir, which Government department’s approval certificate is needed for submitting to BHC. Thanks for the informaton

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s