The Department of Trade and Industry (DTI) in region 10 is calling all business owners and aspiring entrepreneurs to renew or to register their business names early, most preferably weeks before January 20 – the deadline set by the local government units (LGU) for the renewal of business permits.
The renewal and registration of business name through DTI is one of the requirements before a business registrant can acquire a Mayor’s permit from the LGU.
First-time applicants only need to comply three requirements: (1) Duly-accomplished business name application form; (2) 1 valid national government-issued ID with the applicant’s name, photo and signature; and (3) Registration fee.
The applicable fees will depend upon the scope of the business. If the business is only at barangay level, the registrant only need to pay P200; for City level, P500; for Regional level, P1,000 and P2,000 for businesses which extends up to the national level.
Business registrants will spend only around 15 to 30 minutes to have their business names registered or renewed.
For individuals who are tasked to file a business name in behalf of the business owner, they need to bring an authorization letter with the owner’s signature, their personal and the owner’s government-issued IDs, duly-accomplished form and registration fee.
Business owners who need to modify some details in their business registration need to submit an affidavit of waiver and to surrender their original business name certificate.
Meanwhile, those who wish to cancel or change the scope of their business will have to surrender their original business name certificate and to submit an affidavit of cancellation.
For applicants who are residing in Cagayan de Oro, they may file their business name registration or renewal at DTI Misamis Oriental Provincial Office Negosyo Center located at the Ground Floor of State Investment Trust Incorporated along Tiano-Hayes Street in Cagayan de Oro City or at DTI Region 10 Negosyo Center located at Corrales-Luna Streets, Cagayan de Oro City. (DTI-10/PIA-10)