SEC Registration: How To Register A Corporation In The Philippines
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Registering a corporation with the Securities and Exchange Commission (SEC) is not as difficult as you might think, especially if you have a small to medium-sized company. The process was made even easier with Memorandum Circular No. 6 issued by the SEC in 2012, which dispensed with a few documentary requirements.
The following need to be submitted to the SEC upon registration:
Articles of Incorporation (AI) and By-laws (BL).The AI indicates your corporation’s name, incorporators, the amount of capital subscribed, paid in by each stockholder, and the primary and secondary purposes of the business.
Joint affidavit of two incorporators to change corporate name (not required if already stated in the AI).
In the past, corporation applicants were also required to submit a bank certificate for their paid-up capital, but this is no longer needed under Memorandum Circular No. 6. The Treasurer’s Affidavit is considered sufficient support for the applicant’s claim that the required capital stock has been paid. This will be used by the SEC to verify the existence of the declared funds. If any anomaly is found, accountability falls on the corporation’s treasurer.
Ready to register with the SEC online? Explore our step-by-step guide on using the SEC’s Online Company Registration System here. Simplify your registration process and get your business up and running seamlessly!
Clearances or endorsements from appropriate government agencies may be required, depending on the industry in which the business belongs. For example, schools would need clearances from the Department of Education, banks from the Bangko Sentral ng Pilipinas, hospitals from the Department of Health, and so on.
For more information about registering your corporation in the Philippines. Contact FilePino to give you guidance and assistance.