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How to Register your Business with all adequate informations?

The establishment of business enterprises in the country and its ensuing registration processes are confronted with inadequate information on the “How To’s” in business registration resulting in to an additional transaction cost for both the businesses and the government. To make business registration process stress free. I have provided the Guide for Business Registration from Securities and Exchange Commission (SEC) for investors and entrepreneurs. These are the trans- parent and efficient outlines of the basic requirements for Security and Exchange Commission (SEC) business registration.   First, verify the availability of the company name with the Securities and Exchange Commission (Sec) For Online application: 1. Visit SEC website at http://www.sec.gov.ph. 2. Click Online-Transaction”. Log-in and enter your password. Please take note of your password. Juust follow instructions and proceed with verification of company name. 3. Upon approval, submit to SEC the computer print-out of the Reservation Notice and pay the reservation fee. 4. Once approved on-line, may proceed with submission of registration documents with SEC for free-processing and evaluation. For Manual  Application, If dis-approved on-line: 1. Proceed to the SEC Office and Fill up Name Verification Slip. Once approved, pay the corresponding fee for name reservation, may proceed to step 4. 2. Obtain bank certificate of deposit of the paid-in capital. a.  Prepare Secretary’s Certificate authorizing the Treasurer-in-Trust to open a bank account for/in behalf of the corporation. b.  Identify a bank where the account will be opened and request for the issuance of certificate      of bank deposit. c.  Have the bank certificate notarized in the place where the certificate was issued. d.  File registration with the Securities and Exchange Commission. May file on-line if company name was approved on-line or may use blank available at SEC.: 1.  Fill SEC Articles of Incorporation  and By-laws. Number of incorporators is between 5 and 15. 2.  Present 5 sets of the above documents to the Corporate and Legal Unit for pre-filing conference & evaluation. If required, the Articles of Inc. and By-laws will be endorsed to other agencies if activities to be undertaken require endorsement. Otherwise, the documents are stamped “Approved for Payment”. 3.  Pay filing fee to the Cashier. 4.  Proceed to the receiving Section. The accomplished documents are stamped “RECEIVED”. 5.  The document shall be forwarded to the Corporate and Legal Unit for processing and review. For Stock Corporation it will be forwarded to the Examiner’s Division for the Examiner’s Report prior to the final review by the Corporate and Legal Unit. 6.  Issuance of the Certificate of Registration for approval by the Director. 7.  Release of the Certificate of Registration through the Releasing Section. Registration Requirements for Corporation: • Cover Sheet • Name Verification Slip • Articles of Incorporation and By-laws • Treasurer’s Affidavit • Bank Certificate of Deposit • Undertaking to Change Name • Registration Data Sheet • Endorsement from other government       agencies (if needed) • Foreign Investment Act (FIA) Application      (if with more than 40% foreign equity) For Partnership: • Cover Sheet • Name Verification Slip • Articles of Partnership • Undertaking to Change Name • Endorsement from other government agencies (if needed) Information and Documents Required for registration • Approved Name of the Corporation • Proposed business address • Proposed authoriozed Capital Stock ▪ Subscribed capital stock ( min. rqmt 25% of authorized capital stockl) • Paid-up capital (min. requirement: 25% of subscribed capital stock) ▪ Certificate of Bank deposit equivalent to the paid-up capittal deposited in trust in the name of the proposed Corporate Treasure, Certificate  of Inward Remittance (if non-Resident alien subscriber/s) or Affidavit of Non-resident alien subscriber/s or affidavit of Non-resident Alien in lieu of the certificate of Inward Remittance. • Name of at least 5 incorporators and Board of Directors • Complete Mailing Address. Birthdates of incorporators/directors. • Passport number for foreign incorporators/directors. • Proposed date of Annual Meeting • Proposed Fiscal Year Ending.      

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