VA / IT Sole Proprietor Registration & Business Bank Account Guide
Practical steps for Filipino virtual assistants and IT-related freelancers to register as a sole proprietor, issue official receipts, and open a compliant business bank account.
What you’ll learn in this VA / IT sole proprietor registration guide
This VA and IT sole proprietor guide for the Philippines shows you how to register your freelance business, handle official receipts or invoices, and choose a business bank account that fits your clients and cash flow.
For related compliance topics, also see our Business Registration and Bank Account Guide, Digital Tax Filing (eBIRForms) Guide, and VAT vs Non-VAT Tax Type Guide.
Overview
To operate legally as a sole proprietor working as a VA or providing IT-related services in the Philippines, you must register your business, comply with BIR requirements for official receipts (ORs) or invoices, and open a business bank account for cleaner finances and easier compliance.
Business Registration and OR Issuance
Register your business
- Register your business name with the DTI and obtain a Certificate of Business Name Registration.
- Register with your LGU for a Mayor’s Permit or Barangay Permit.
- Apply for a TIN (if you don’t have one yet) and register as a sole proprietor at the BIR using Form 1901.
Submit required documents
Typical requirements include:
- Valid government-issued ID
- DTI Certificate of Business Name Registration
- Mayor’s Permit or Barangay Business Permit
- Proof of address (e.g., lease contract, utility bill)
- Books of accounts for stamping by BIR
Authority to Print (ATP) and ORs
- Apply for Authority to Print (ATP) via BIR Form 1906 so you can legally print official receipts or invoices.
- ORs / invoices must include required transaction details and TINs, following BIR Revenue Regulation 7-2024.
- Pay applicable BIR fees and coordinate with an accredited printer for your receipts or invoices.
Typical fees
- DTI registration: around ₱200–₱2,000+ depending on business scope.
- Mayor’s Permit / Barangay fees: varies per LGU.
- BIR registration fee: ₱500 annually.
- Documentary Stamp Tax for registration: ₱30.
Issuing Official Receipts and Invoices
Once registered and with ATP granted, you may issue official receipts or invoices to clients for all business services, including VA and IT work.
Under RR 7-2024, sales invoices are now the primary document for both sale of goods and services. Official receipts are still valid as proof of payment, especially for services, but make sure your documents follow the latest BIR format and content rules.
Opening a Business Bank Account
Core requirements
- DTI Certificate of Registration (sole proprietorship)
- Mayor’s Permit and/or Barangay Business Clearance
- BIR Certificate of Registration and TIN
- Valid government-issued ID
- Completed application forms of the chosen bank or provider
Application process (typical)
- Submit your bank account application online (if available) or visit a branch.
- Present all required documents for verification.
- Make the initial deposit (if required by the account type).
- Activate the account and enroll in online banking or business portals.
Business Bank Account Options (Summary)
Below is a summary table of popular options for business bank accounts and payment solutions for small business owners, VAs, and freelancers in the Philippines.
| Bank / Provider | Min. Deposit | Monthly Fee | Local Transfer Fee | Key Features | Foreign Currency | Notes |
|---|---|---|---|---|---|---|
| Maya Business | None | None | Free via InstaPay | Full-feature digital app | Not supported | No physical branches |
| First Circle | None | None | Free | Fast digital onboarding | Not supported | Fully digital business account |
| UnionBank Biz Starter | ₱5,000 | None | Free (PESONet), ~₱10 InstaPay | MSME-focused, with app access | Not supported | Designed for small businesses |
| BPI BizLink | ₱10,000 | None* | Around ₱50 (PESONet) | Cheque book, online portal, mobile app | Separate foreign currency account | *Fall-below fee applies if balance not maintained |
| China Bank Peso Checking | ₱5,000 | None* | ~₱20 (PESONet), ₱10–₱15 InstaPay | Checking account with cheque book | Separate foreign currency account | *Around ₱300 fall-below fee if balance not maintained |
| Wise Business | None | None | Free local, from ~0.57% international | Multi-currency account, 40+ currencies | Yes | Around ₱1,400 one-time setup fee |
*Some providers charge fall-below or minimum balance fees if maintaining balance requirements are not met. Always check the latest fee schedules of each bank or provider.
Quick Reminders
Stay compliant
Maintain compliance with all BIR and LGU regulations to avoid penalties and unnecessary audits.
Choose the right bank
Pick bank services based on your business model—purely local payments vs. regular international clients.
Always document income
Always issue and keep ORs or invoices for every transaction to support your income and expense records.