What is a pawnshop?
A pawnshop, pawnbrokerage or pawnbroker refers to a person or entity engaged in the business of lending money on personal property delivered as security for loans (Section 3 of PD No. 114). By regulation it has to be duly organized and licensed to have the power to engage in the business of lending money on the security of personal property (Section 4101P.1 of MORNBFI-P).
It can be registered as a single proprietorship (requires DTI registration) or partnership/corporation (requires SEC registration).
The name of the business should also include the word "pawnshop" to reflect the operation of the business.
Read more on http://businesstips.ph/how-to-register-a-pawnshop-business-in-the-philippines/
Procedure: (repost from http://www.mixph.com/guide-to-starting-a-pawnshop-business/)
- Call Bangko Sentral ng Pilipinas (BSP) pawnshop hotline, (02)524-8713, to check if the pawnshop name you want is already taken.
- Register your business either at the Department of Trade and Industry (DTI), for single proprietorship, or the Securities and Exchange Commission, for partnerships or corporations.
DTI is located at the Trade & Industry Building, Sen. Gil Puyat Ave., Makati. In the provinces, DTI offices are in or near municipal buildings. Application forms are also available at DTI’s website. Only Filipinos may own a pawnshop organized as a single proprietorship. For partnerships and corporations, foreign ownership should be limited to 30 percent.
- Secure a business permit from the city or municipality where pawnshop will be located. 4.
- Register with the BSP. For the complete list of requirement, download the form here. These include permits from the DTI or SEC and the local government, an information sheet, personal data sheets, bank certification of at least P100,000 capital and location sketch.
- Pay the processing fee of P1,000.