A DTI Certificate is a piece of paper that proves your company has been registered with the Department of Trade and Industry. This certificate contains the name of your company, your address, and your registration number. Businesses who participate in retail or commerce, as well as those that offer public services, are required to have it.
How to Onlinely Obtain a DTI Certificate
Step 1: Go to the website for the DTI Business Name Registration System.
Step 3: Click the link delivered to your email to complete the account verification process.
Pay the registration cost in step five. Depending on the type of business you are registering, there will be a cost.
Is a DBA Required to Have a Separate Bank Account? A DBA (Doing Business As) is a name used by a company to conduct business. You are not obliged to open a separate bank account for your business if you are a sole proprietor and have registered a DBA name. To avoid confusion and make accounting simpler, it is advised to keep your personal and business finances separate.
A sole proprietorship has the drawback that the owner is individually responsible for all financial commitments and debts incurred by the company. This indicates that the owner’s personal assets may be utilized to settle debts if the company is unable to do so. Additionally, since they are unable to sell shares of their company, sole proprietors may have trouble raising funds.
DBA names are not covered by trademark protection. This implies that other companies may use a name that is similar to or the same. However, you might be able to assert common law trademark rights if you have been using a DBA name for a considerable amount of time and have built a solid reputation and clientele. To prevent unlawful use of your company name by others, it is advised that you register it as a trademark.
To sum up, getting a DTI Certificate is an essential step in launching a business in the Philippines. You can easily order your certificate online by doing the aforementioned. Additionally, it’s critical to recognize the drawbacks of a single proprietorship, maintain financial segregation between your personal and business accounts, and take precautions to safeguard your DBA name.
The subject of the article is not immediately addressed by the question. But when a company conducts business under a name other than its legal name, “DBA”—which stands for “doing business as”—is utilized. A DBA would be something like “John Smith doing business as Smith’s Bakery.”