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How to renew your DTI permit | Tips for an entrepreneur in Mindanao

Apart from renewing my Philippine passport and applying for a new e-passport, another thing that I did this week was renew my Department of Trade and Industry (DTI) permit. I’ve had mine for 5 years (how fast time flies, eh?) and it’s now time for me to renew it and ensure that the name of my business as well as my services are duly registered and legally recognized by the DTI.

dti_logoActually, a lot of newbie or aspiring entrepreneurs I know are hesitant to get a DTI permit for fear that it’ll be too time consuming or that there will be a lot of requirements.

Based on what I know about getting a DTI permit and based on my own experience, it’s absolutely easy to apply for one. In fact, there’s now a DTI resolution that makes DTI permit applications and renewals easier for Pinoy businessmen. You can even register your business name online!

If you want to know more about how to get your own DTI permit, head on down to the Business Name Registration System website.

In the meantime, what I’ll share in this entry are the steps and requirements involved in renewing your DTI permit.

First – the requirements.

What you need are:

– your old, expired DTI permit
– renewal application form (which you can download from this DTI site)
– photocopy of a valid ID
– P300.00 for the permit
– P15.00 for the documentary stamp

Tips and other details after the jump!

Tip: download the renewal application form and accomplish TWO (2) copies. Use black or blue pen. Avoid using pencil.

By the way, check the EXACT date of the expiration of your DTI permit. You can’t renew your permit before the date of the expected expiration.

Also, you must renew your DTI permit within 3 months after the expiration date. DTI also can’t “hold” your business name anymore if 6 months have passed and you haven’t renewed your permit yet.

Now – armed with your requirements and cash – visit the nearest DTI office. Present your requirements.

Another tip: bring your TIN card. You can’t transact business at the DTI if you don’t have a TIN number yet.

Once the DTI personnel sees that everything’s in place, you will be issued your official receipt and will be asked to wait while they input your business details to their database. I was told that the regional DTI offices need to log in and submit the data to the national database via the Internet (I guess they have their own Intranet or WAN or something) so be prepared to wait for a few minutes. If there aren’t a lot of clients, you may be finished in about half an hour.

A fresh copy of your renewed DTI permit will then be given to you along with a folder that you can use to protect your spankin’ brand new permit πŸ™‚

So there. As you can see, it’s really very easy to renew your DTI permit. Hopefully, the tips I shared here will inspire more Filipinos to venture into their own businesses soon πŸ™‚

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