Good Governance Philippines
2018News

Business name registration rules amended

By Sun Star Pampanga, September 23 2018

https://www.sunstar.com.ph/article/1765782/Pampanga/Local-News/Business-name-registration-rules-amended?rss=1

Image Credit to PTV News

THE Department of Trade and Industry, in its bid to further streamline rules in registering businesses and contribute to the enhancement of ease of doing business in the country, has issued revised Implementing Rules and Regulations to the Business Name Law or Republic Act No. 3883.

The DTI issued Department Administrative Order No. 18-07 on August 25, 2018 and after having been published in a newspaper, effective on September 10, 2018. The said Order came out from requests from different stakeholders and included inputs from public consultations on Business Name registration with different sectors nationwide.

Among the changes provided by the new business name registration rules are: Inclusion of provisions relative to the Data Privacy Act and Freedom of Information Executive Order, thereby defining which information in the business name application can be considered as confidential or public; Inclusion of refugee or stateless persons as business name applicants; Amendment of the early renewal period from 90 days to 180 days; Amendment of the standard information in the Certificate of Business Name Registration; Amended rules on reconsideration of disapproved online applications through DTI offices; Amendment in the types of cancellation of

Business Name Registration; the inclusion of the Philippines Standard Industry Classification as basis for the descriptor of the nature of business in the Business Name applied for.

The new order also added provisions for non-registrable names and also contains provisions on sustainability and contingency.

The offices of DTI in Central Luzon registered a total of 58,240 new business names in 2017 as well as 2,240 Barangay Micro Business Enterprises, the highest number among all regions in the country.

In Region 3, Bulacan and Pampanga had the most number of new business name registrations last year at 16,287 and 13,182 respectively. These figures are expected to increase this year as more Negosyo Centers have been established.

As of August 2018, 17 new Negosyo Centers have been established, on top of the 64 already existing as of December 2017. (PR)

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