Changing your business name registered with the Department of Trade and Industry (DTI) in the Philippines might seem like a daunting task, but with the right knowledge and approach, it can be a smooth process.
Whether you are rebranding, updating, or correcting an error, the DTI simplifies the process of making changes to the name of your company in their records.
Changing your DTI-registered business name can be a smooth process with the right knowledge and approach.
Understanding the significance of the registration, components of business names, and the change process is crucial.
Familiarize yourself with name availability, and requirements, and complete the registration process while addressing FAQs.
Understanding Business Name Registration
Every business name registration starts with The Department of Trade and Industry (DTI). This process ensures your business operates legally and has a unique identity, allowing you to stand out from your competition.
Before you change your company name, familiarize yourself with the DTI Business Naming Regulations. Be mindful of choosing a name that reflects your business, adhering to the established rules that prohibit the use of words that are undesirable, scandalous, or offensive.
To change your current company name, visit the DTI website and follow the necessary steps. This includes filling out the required forms, ensuring your desired new name is available, and submitting your application.
Be aware of the different costs involved in updating your company’s name registration. Fees may vary depending on the scope and nature of your business, but they play an essential role in maintaining your business’s legal standing.
Components of Business Name
When updating your company name with the Department of Trade and Industry (DTI), it’s vital to understand and consider the various components that make up a company’s name. This will help you make an informed decision and comply with DTI’s guidelines on business name registration.
Business Name Descriptor
First, you’ll need to choose a business name descriptor. This is the part of the name that describes the nature of your business. It should be clear and informative so that people can easily identify and understand what your business offers.
For example, if you run a coffee shop, your name descriptor could be “Coffee House” or “Café.” It is crucial to select a descriptor that accurately represents the products or services you provide.
Next, consider the territorial scope of your business name. This is particularly relevant for businesses operating in more than one location or with plans to expand in the future. The territorial scope of your company’s name should clearly indicate the geographical area where you provide your goods or services.
For instance, you may choose to add the name of the city or region you operate within to your company’s name. If your business is already well-known, you may want to keep the territorial scope broad to accommodate future expansion. Remember that changes to your company name may also necessitate an update to your DTI registration.
In addition to the name descriptor and territorial scope, you should also be mindful of any restrictions imposed by DTI on business name registration.
It’s your responsibility to ensure that your proposed business name complies with the relevant laws and regulations. For example, your business name should not be confusingly similar to other registered names, offensive, or misleading.
Brand Identity & Recognition
Finally, keep in mind that changing your company name may impact your brand identity and recognition. It’s essential to ensure that the updated name is easy to remember, pronounce, and spell, as well as maintain your business’s image and message.
How to Embark on Name Change Process
When you decide to change your registered business name, it is essential to follow the correct procedure with the Department of Trade and Industry (DTI). Here, you will learn the necessary steps in changing your company name in the DTI.
Step 1: Apply To A New BN Registration
First, you need to apply for a new Business Name Registration with the DTI. Keep in mind that changing your business name means registering a new name entirely as if you’re starting from scratch. To begin the process, visit the DTI’s BNRS portal.
Step 2: Finalize Your Business Name
Before you start filling out the online form, take time to brainstorm and choose a new proposed business name. Ensure that your new name adheres to the DTI’s guidelines, meaning it should not be a name already in use, should not infringe on any trademarks, and should not be inimical to the security of the state.
Step 3: Fill Out the Registration Form
Once you have a suitable new name in mind, proceed with the BN registration process. In the application form, provide the necessary information and carefully review your entries before submitting the form. After the initial submission, you will receive an email containing your reference code and the payment instructions.
Step 4: Pay the Registration Fee
Next, pay the corresponding fees as per the payment instructions. The payment can be done either through online banking or at a DTI-accredited payment center. After you have made the payment, wait for DTI’s confirmation email, which includes your Certificate of Business Name Registration.
Step 5: Obtain Other Necessary Permits
Finally, don’t forget to visit your local government office to obtain a Mayor’s Permit or Business Permit, as well as any other requirements for your specific type of business operation. Changing your business name entails updating all relevant permits and documentation to reflect the new name.
Following these steps, you can confidently and effectively change your business name in DTI and ensure proper compliance with all the necessary procedures.
Checking Name Availability
Before you proceed with changing your business name in DTI, it’s essential to first check the availability of the new name you have in mind. You want to ensure that the desired name is not already registered as another business name.
To check the name availability, visit the Business Name Search – BNRS Portal. Note that the verification for a specific business name is limited to exact name searches only. Random searches are not allowed.
When selecting a new name for your business, make sure it meets the requirements set forth under the Revised Implementing Rules and Regulations of Republic Act 3883. Following these guidelines is your responsibility to ensure your proposed business name is compliant with the regulations.
Consider your choice carefully, as your business name represents your brand, products, and services to your customers and partners.
Once you have found a suitable name for your business that is both unique and compliant with the guidelines, you can move forward with the DTI name change process.
Requirements for Name Change
There are several requirements and steps to follow.
Visit the DTI BNRS website
First, visit the DTI BNRS website and navigate to the Business Name Services section.
Here, you will find information on updating your business name or making changes to other aspects of your business’s registered information, such as residential or business address.
Complete Necessary Forms
After accessing the Business Name Services, you will be required to complete the necessary forms provided by the DTI portal.
This may include providing your personal and business information, as well as details about the proposed new business name. Ensure that you adhere to the guidelines set forth in the Revised Implementing Rules and Regulations of Republic Act 3883, as amended, otherwise known as the Business Name Law.
Get Your Reference Code & Pay The Fee
Once you’ve filled out the forms, you will be assigned a reference code. Make sure to note this code, as it will be needed for completing the transaction.
You will also need to pay the registration fee, which may vary depending on your location and the type of business you operate. You can pay via GCash, credit/debit card, or Paymaya.
Wait For Confirmation Email
After submitting your application and successful payment, you should receive a confirmation email. This email will contain instructions on how to access your updated Certificate of Business Name Registration.
Keep a copy of this certificate for your records, as it serves as proof of the legitimacy of your business name change.
Upon approval, you will receive a new certificate of business name, confirming that the changes have been made. Make sure to update all your relevant documentation and marketing materials with the new business name.
Remember that your registered business name is valid for five years, and if you wish to retain the name, you need to renew it with the DTI. The renewal process can be done online at the DTI website, or by visiting your nearest DTI Regional or Provincial office.
Registering your company’s name is a crucial step towards running a profitable business. While the process can be a little tedious, a little patience and grit will allow you to come out better on the other side.
Frequently Asked Questions
What are the requirements for changing a business name with DTI?
To change your business name with DTI, you will need to email your concern to email@example.com with your name, business name, correction, and attached government ID for validation. Additionally, if you need to change information such as residence address, business address, or name and civil status, please go to the selected DTI Office near your area.
How do I update my business information on DTI?
To update your business information on DTI, refer to the BNRS Portal where you can find different business name services, such as new registration, renewal, cancellation, request certification, and transaction inquiry.
What is the process for modifying a DTI business name registration?
The process for modifying a DTI business name registration requires you to first email your concerns and corrections to the DTI Helpdesk. If your changes involve residence address, business address, or name and civil status, visit the nearest DTI Office for assistance.
Where can I find the DTI certificate for a business name change?
After successfully modifying your business name registration, you can request a certification through the BNRS Portal. This process allows you to obtain an updated DTI certificate that reflects your business name change.
Is it possible to have multiple business names under one DTI registration?
Yes, it is possible to have multiple business names under one DTI registration. Each business name, however, must be registered separately with the Department of Trade and Industry, following their specific requirements and processes.
How do I renew my DTI business registration online?
To renew your DTI business registration online, follow the steps on the BNRS Portal. It provides a detailed guide on how to complete the renewal process, ensuring that your business remains legitimately registered with DTI.