Tuesday, March 5, 2024

PH gov’t set to officially unveil business registration portal

The national government is aiming to modernize the process of business registration in the country with the nationwide launch of the Central Business Portal (CBP), an online one-stop shop for registering businesses.

The online national launch of the CBP Phase 1 will be on January 28, Thursday, via Facebook Live.

“With the launching of the Central Business Portal Phase 1, in line with the directives of the President to make physical queuing a thing of the past, we hope to start the ball rolling in revolutionizing doing business in the country by making business registration faster, easier, and more convenient to many of our local entrepreneurs and corporations,” Department of Information and Communications Technology (DICT) secretary Gregorio B. Honasan II said.

The creation of the CBP is in accordance to Republic Act No. 11032 or the Ease of Doing Business (EODB) and Efficient Government Service Delivery Act of 2018, Section 13 of which provides that the DICT shall maintain the CBP to eliminate bureaucratic red tape and promote transparency in business transactions.

The CBP allows business registrants to apply for the necessary permits and licenses from national government agencies online, saving time and effort. On the part of the government, the online applications will make it easier to monitor and regulate the business registration traffic, making processing more efficient.

Currently, business applicants could access the portal to acquire their Securities and Exchange Commission (SEC) certificate of registration for one-person and two-to four-person corporations, as well as register with the Bureau of Internal Revenue (BIR) for TIN and order of payment. Social Security System, Pag-IBIG and PhilHealth employer numbers are also generated in the system for registrants.

During the national launching, additional features will be made available — including the registration of One Person Corporations, Corporations with Less than 5 incorporators, Regular Corporations whose Incorporators are Juridical entities, and Corporations which the Capital Structure is not covered by the 25%-25% Rule.

Moreover, applicants may now use e-payment to register with and secure a Certificate of Registration (COR) from the BIR.

Furthermore, a Unified Application form that allows for the one-time capture of common information for all participating agencies will also be a main feature of the CBP.

The CBP Phase 1 is a joint initiative between the Anti-Red Tape Authority and the DICT, together with the Securities and Exchange Commission (SEC), Department of the Interior and Local Government (DILG), Department of Trade and Industry (DTI), Department of Finance (DOF), Social Security System (SSS), Bureau of Internal Revenue (BIR), Pag-IBIG Fund, PhilHealth, Food and Drug Administration (FDA), the Quezon City Local Government, Cooperative Development Authority (CDA), and Land Bank of the Philippines.


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