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Closed Corporation within the family.

#1
Hello,

My Uncle and his wife, wishes to invest on soap manufacturing. They want to be involved in just the money part. I will be managing the overall operation from registration up to the manufacturing. My daughter will be the CPA. My husband will be on the sales and marketing side. My sister will be the Allied Health Professional (it is required for cosmetics manufacturing including soaps).

My question is, can we register as a closed corporation? And is that the best option given the scenario?

If we go ahead and register as a closed corp and do it on national scale, can we still be qualified to register for Barangay Micro Business Enterprise (BMBE) Law, RA. 9178 Act of 2002? Since total capital is less than 3M?

Thanks a lot in advanced!

Reference:
https://businesstips.ph/forum/starting- ... -business/

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