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Free Legal Advice Philippines » FREE LEGAL ADVICE » BUSINESS AND TRADE » TYPE OF ENTITY TO CHOOSE

TYPE OF ENTITY TO CHOOSE

5 posters

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1TYPE OF ENTITY TO CHOOSE Empty TYPE OF ENTITY TO CHOOSE Tue Jun 02, 2015 5:58 am

jiselle


Arresto Menor

Ang structure po ng business ko is basically to produce fitness video and sell through website. Ako lng po ang owner ng business however gusto ko pong mag hire ng employees. And another thing is bigyan ng share ung fitness instructor ko sa profit of that particular program as part of his compensation. So am I still qualified Sa sole proprietorship?

2TYPE OF ENTITY TO CHOOSE Empty Re: TYPE OF ENTITY TO CHOOSE Tue Jun 02, 2015 10:01 am

Katrina288


Reclusion Perpetua

Yes, you can open a sole proprietorship business. You can hire employees under this business type. Just ensure that you have contract of employment to protect your interests as employer.

Regards,
Atty. Katrina

http://www.kgmlegal.ph

3TYPE OF ENTITY TO CHOOSE Empty Re: TYPE OF ENTITY TO CHOOSE Tue Jun 02, 2015 4:54 pm

jiselle


Arresto Menor

Thank you

4TYPE OF ENTITY TO CHOOSE Empty Re: TYPE OF ENTITY TO CHOOSE Tue Jun 02, 2015 9:54 pm

Lunkan


Reclusion Perpetua

The law is some unclear. Have you checked if the municipaly office where you are, approve you as BMBE (=Barangay Micro Business Enterprice) ?
Such business have some advantages, e g no income tax for the OWNER. (The other taxes are same.)

5TYPE OF ENTITY TO CHOOSE Empty Re: TYPE OF ENTITY TO CHOOSE Wed Jun 03, 2015 3:26 pm

jiselle


Arresto Menor

I haven't checked this one out yet. Thanks for the input

6TYPE OF ENTITY TO CHOOSE Empty Re: TYPE OF ENTITY TO CHOOSE Sun Jul 19, 2015 9:19 pm

CodyDeegan


Arresto Menor

Yes, it is still considered as a sole proprietorship. Hiring employees does not change the business entity, as long as the business is registered as a sole proprietorship.

http://carpolaw.com/

7TYPE OF ENTITY TO CHOOSE Empty Re: TYPE OF ENTITY TO CHOOSE Sat Sep 30, 2017 8:48 am

arnoldventura


Reclusion Perpetua

If you intend your business to grow, why not consider establishing a corporation? Sole proprietorships are easy to establish, but there are also certain advantages of creating a corporation for your business, especially if you intend it to grow. You may read this. https://www.alburovillanueva.com/corporation-preferred-business-structure

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