As the local and global market goes through different changes, companies also adjust to the demands of their clients. Some companies change their business names because either they have modified the product or services they offer, and the name no longer reflects their company or their company is acquired by another firm.
Process of Changing Your Business Name in the Philippines
For Sole Proprietorships:
- Head to the Department of Trade and Industry (DTI) and accomplish the required forms
For other types of domestic corporations:
- Organize a meeting for the shareholders.
- Let the shareholders vote on the motion to change the business name.
- Revise the Articles of Incorporation for the Corporation accordingly after the motion to change the business name has been approved.
- . The majority vote of the Board of Directors and votes of shareholders representing at least 2/3 of the outstanding Capital Stock is necessary.
- Submit a notarized affidavit of cancellation of the registered business name. It must include the cancellation reason/s and attest that the registered owner has no unsettled financial responsibilities. Requirements are:
- Cover Sheet for Amendment;
- Amended Articles of Incorporation and/or By-laws (reflecting the change provision/s);
- Director’s Certificate (Stock corporation) / Trustee’s Certificate (Non-stock corporation);
- Secretary Certificate of No Intra-Corporate Dispute;
- Name Reservation Slip;
- Undertaking to Change Corporate Name;
- Monitoring Clearance
- Give notification to all other authorities, including BIR, SSS, and business partners.
- Update all company letterheads and official documents with the company’s new name.
What other documents do I need to file to change my business name?
The documentary requirements for filing a business name change depend on your business type. To know more about changing your company’s business or trade name, call Triple i Consulting.
Triple i is the first ISO 9001:2008 company in the Philippines to offer business registration services to its clients. With a team of Philippine business strategy experts who provide professional help to companies who have decided to change their business name in the country, the company’s team of experts has over ten years worth of knowledge and skills in Philippine business registration, accounting and taxation, FDA licensing and product registration, and more.
Check out other services you may avail by contacting us here, filling out the form below, calling us at +63 (02) 8540-9623, or emailing us at email@example.com to book an initial consultation with one of our business name change experts.