One-Stop Shop For Registering Businesses In The Philippines Launched

One-Stop Shop For Registering Businesses In The Philippines Launched

The Central Business Portal (CBP) is jointly launched by national agencies together with the Anti-Red Tape Authority. (ARTA).

ARTA partnered with national government agencies like Department of Information and Communications Technology (DICT), Securities and Exchange Commission (SEC), Bureau of Internal Revenue (BIR), Social Security System (SSS), Philippine Health Insurance Corporation (PhilHealth), Home Development Mutual Fund or Pag-IBIG Fund, and the Food and Drug Administration (FDA) together with 18 pilot local government units (LGUs) to provide this service.

CBP aims to reduce the number of days to open a business in the country to just half a day. Currently, it takes 33 days.

It offers a single site for all business-related information and transactions such as applying for business permits, licenses, and clearances.

The portal provides a Unified Application Form for all agencies involved in the business registration process, including the Securities and Exchange Commission, Bureau of Internal Revenue, Social Security System, Philippine Health Insurance Corporation, and the Home Development Mutual Fund or Pag-IBIG Fund.

According to the statement released by the Philippines News Agency, the CBP Phase 1 will allow for the registration of one person corporations, corporations with two to four incorporators, and regular corporations whose incorporators are juridical entities and/or the capital structure is not covered by the 25 percent-25 percent rule.

In the statement, it also mentioned that the online business permitting systems of other LGUs are also being targeted for integration in the portal in the future.

CBP can be accessed online at business.gov.ph

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