SEC chairman Emilio Aquino said the online applications were completed in just one day and as fast as less than two minutes under the Electronic Simplified Processing of Application for Registration of Company (eSPARC).
The Securities and Exchange Commission (SEC) said it has reopened the registration for corporations with less than five incorporators, including one person corporations (OPCs).
The SEC Company Registration System (CRS) allows for the full automation and online pre-processing of the registration of corporations and partnerships, as well as the licensing of foreign corporations.
