How to Check if a Company is Real in the Philippines: A Comprehensive Guide

Last Updated on May 4, 2023

Partnering with or working for an illegitimate company can lead to many problems, including financial loss, legal issues, and damage to your reputation. This problem applies to the Philippines, as it’s possible to encounter fraudulent companies deceiving people with false promises and fake credentials.

But there is a way to avoid the negative consequences of partnering with or working for a fake company foreign investor, a job seeker, or a local entrepreneur. Knowing how to check if it is indeed a legitimate company is essential.

This article provides a comprehensive guide to verifying a company’s legitimacy in the Philippines. Following our steps and tips can help you navigate the Philippine business landscape with confidence and peace of mind.

Checking the Company Registration

Just as companies have every right to conduct a pre-employment background check, it’s also fair to turn the tables against them.

To ensure a company is legitimate in the Philippines, check its registration with the relevant government agencies.

Here are some of the agencies that can help verify a company’s registration:

Securities and Exchange Commission (SEC)

The SEC is responsible for regulating the securities industry in the Philippines. It also maintains a database of registered companies and individuals in the securities industry.

It regularly updates its list of registered companies in PDF format. Here’s one from March 31, 2022. Find the company from the list or look for an updated version of the list if available.

Department of Trade and Industry (DTI)

The DTI is responsible for the registration of business names in the Philippines.

It uses the Business Name Registration System to help you search for registered businesses nationwide. Type in the company name and sort by business name or status to find what you want.

Bureau of Internal Revenue (BIR)

The BIR is the country’s internal revenue service responsible for registering businesses for tax purposes in the Philippines.

Use the BIR-Registered Business Status Search Facility to check if a company is registered with the BIR. It allows you to search for the registered or trade name, TIN, and branch code.

Credit Information Corporation (CIC)

The CIC is one of the country’s credit rating agencies that provide people with a company credit report of an organization.

This helps you to determine the financial health of the company. If a company’s credit ratings are high, it’s likely to be financially stable and able to meet its financial obligations.

On the other hand, a company with a poor credit report may be struggling financially and unable to pay its debts on time. That means it’s best not to do business with them.

Reviewing the Company Background

When considering doing business with a company in the Philippines, verifying that the company is legitimate is important. One way to do this is to review the company’s background.

If it fails to meet the criteria below, it may indicate that the particular company is not legitimate.

This section outlines areas to look into when double-checking an organization’s credentials.

Company Website

A company’s website can provide valuable information about the company’s legitimacy.

First, check the website to see if it’s professional-looking and up-to-date. It should also provide transparent information about the company and its offerings.

Finally, check for company contact information, such as a phone number, email, and physical address, and others for verification. See if the company listed the same contact details when registering their business.

Social Media Presence

A social media presence allows companies to keep in touch with their target audience. However, it’s not enough to set them up and be done with them.

When reviewing a company’s social media presence, make sure that the company is active and regularly posts on social media. Also, see if they are responding to posts and comments made by users.

An organization responding to customer inquiries and complaints promptly and professionally is a good sign of a legitimate company.

Online Reviews

Checking the company’s user reviews provides valuable insight into its reputation. A good sign of a company’s legitimacy is when it has more positive than negative feedback.

Also, consider if there are patterns in the reviews, such as consistent complaints about a particular issue. This red flag speaks of the company’s inability to fix internal problems.

At the same time, not all online reviews are genuine. It’s best, therefore, to read various reviews from different sources and discern the authentic ones from the rest.

Verifying the Company Address

The company’s registered business address, commonly seen on its website, can give you much information about its legitimacy.

From the site, it should also show you where their business is located in Google Maps. Check if the address listed on the map matches the address you found on other sources.

As a last resort, visit its office to verify its address. This is the most reliable way to ascertain a company’s address.

It’s important to note that some fake companies may provide a virtual office address.

A virtual office address is a type of office that provides a physical address and other services such as mail handling and call forwarding. Still, the company is not located at the address. If the company’s address is a virtual office address, it doesn’t necessarily mean it’s a fake company, but it’s something to be aware of.

Contacting the Company

If you want to verify the legitimacy of a company, one of the best ways is to contact them directly. Here are some tips for contacting a company in the Philippines:

Look for Contact Information

First, check the company’s website for contact details. Look for a phone number, email address, or physical address. That could be a red flag if the website doesn’t have this information. Legitimate companies should be transparent about how to contact them.

Send an Email

If you find an email address for the company, email them your questions or concerns.

Make sure to introduce yourself and explain why you are contacting them. Be clear and concise in your message, and ask specific questions that will help you determine if the company is legitimate.

Call the Company

Call them if you find offline contact information, such as a phone number. When you call, be prepared with a list of questions to ask. Ask about the company’s history, products or services, and customer service policies. Another question you should ask is if the company accepts payments from secure gateways.

If the person on the other end of the line can’t answer your questions or seems evasive, that could be a red flag.

Conclusion

Verifying the legitimacy of a company in the Philippines is an essential step for anyone looking to do business and work for an employer in the country. Due diligence is critical to avoiding costly mistakes and ensuring a safe and fruitful business relationship.

If you’re in a position to strike a deal with a business in the Philippines, ensure you’re going to bed with a trustworthy company with its corporate affairs in order.

To do this, hire us at The Spy Experts. Our discreet investigation services ensure that the company you plan on working with is legitimate and complete with proof such as the company’s credit score, legal documents, etc. Our experts can also do asset search investigating to help you uncover hidden resources the company doesn’t want you to know.

We can achieve this thanks to our years of experience in the field and the know-how to do the job.