Sunday, July 14, 2024

SEC sets up online registration for firms with less than 5 incorporators

The Securities and Exchange Commission (SEC) said it has reopened the registration for corporations with less than five incorporators, including one person corporations (OPCs).

In a notice dated April 8, the SEC announced it has set up an interim online registration system to facilitate applications for the registration of OPCs and corporations with two to four incorporators while the enhanced community quarantine remains in force in Luzon and other parts of the country.

The online registration system allows applicants or their duly authorized representatives to input their proposed corporate names together with their trade names, if any, and other data necessary to complete their corporate profiles. As part of the basic requirements, applicants have to provide valid and existing email addresses where the status of their applications shall be sent.

The SEC Company Registration and Monitoring Department shall review application forms successfully submitted through the interim online registration system within three working days.

However, due to stringent social distancing measures limiting mobility of individuals and closure of establishments, payment of registration fees, submission of signed and notarized hardcopies of registration documents, and releasing of the Certificate of Registration shall be done only upon the lifting of the enhanced community quarantine.


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