Enterslice

To start a cooperative in the Philippines, several requirements must be met by the Cooperative Development Authority (CDA). First, a minimum of 15 natural persons, each of legal age and Filipino citizenship, is needed to form a primary cooperative. These individuals must undergo a pre-membership education seminar. The cooperative must have an approved name, and its by-laws and articles of cooperation must comply with the guidelines set by the CDA. The company formation process also requires the submission of economic feasibility studies, sworn statements of the treasurer on capital structure, and a bond of accountable officers. Additionally, cooperatives must present proof of payment of registration fees and other documentary requirements. Compliance with the Republic Act No. 9520, or the Philippine Cooperative Code of 2008, is essential, which includes adhering to rules on capital build-up and savings mobilization. Finally, registration with the CDA is mandatory to gain legal recognition and operate as a cooperative entity in the Philippines.