LEGAZPI CITY, Albay (PIA) - - The Department of Trade and Industry (DTI) this province has called on business owners to check on their business name registrations that are due for renewal.

He said business registrations expire every after five years and must be renewed before the expiration date to avoid legal complications. 

“The law prohibits using unregistered business names in transactions and signages. The LGU also requires registered business name before issuing business permit,” DTI Albay Consumer Protection Division Chief Noel Bunao said at the Talakayan sa PIA Albay program.

“We are also reminding the LGUs to check the business name registration. It expires after five years,” he added.

Once expired, Bunao said the business name will be deleted in their database and it may be used by other individuals or establishments.

Aside from DTI offices and Negosyo Centers, registration can also be done online which may be processed in approximately 30 minutes. The fee will depend on the scope and location of the business.

“For barangays, registration is P200. For cities and municipalities, it is P530. For regional scope, the fee is P1,030 and P2,030 for national. Payment can be done through online platforms,” he added.

Business name is different from business permit

He also clarified that the business name registration is different from the business permit.

“Business name registration gives the business a legal identity and is not a permit or license to operate a business. In order to actually operate the business, a business permit is needed to be secured from the LGU where the business is located,” Bunao said.

“Business name registration is also a requirement to process the business permit and other transactions with the BIR, SSS, Philhealth and banks,” Bunao said.

Online registration of business name can be accessed at https://bnrs.dti.gov.ph/registration.(SAA/PIA5/Albay)