The Business Name Law in the Philippines (RA 3883) requires businesses in the country to register with the Department of Trade and Industry (in case of a sole proprietorship) or with the Securities and Exchange Commission (in case of a corporation or partnership) before starting operations. Owners just have to fill out a form, submit their tax identification number, and think of at least three business names before paying the corresponding fee.
Yes, foreigners can establish a business there. The Foreign Investment Act (R.A. 7042 and R.A. 8179) mandates and/or guarantees interested foreigners a 40% ownership in domestic corporations, and 100% in retail trade enterprises and export businesses.
In Dubai, however, its law requires its locals to have a hand on every business undertaking. Locals--a company or an individual--must hold the majority interest of the business and have the option to ‘control’ it even without an initial investment.
That and a knowledge of the region are the two things necessary to establish a business in the said emirate. Owners just have to register and prove to its ministry in commerce that they have about $10,000-$50,000 guarantee.
Given its regulations, there really is no problem if a certain night club name its establishment with the world’s fourth best island (Travel+Leisure Magazine) found in the Philippines. One of the island’s hotels, Discovery Shores, was also listed among the 10 best hotel spas worldwide.
But Boracay is a tourist spot. Whatever happens in the night club that bears its name could reflect to the original home of the Ati tribe, a Negrito ethnic group in Panay. Filipinos must be cautious in using its repute especially since they cannot control things.