SEC launches new company registration system

MANILA – The Securities and Exchange Commission (SEC) has launched the Electronic Simplified Processing of Application for Registration of Company (eSPARC) to facilitate faster and easier registration of corporations in the country

 

Starting April 19, the commission will accept and process under eSPARC all applications for registration of one person corporations (OPCs) and both stock and nonstock domestic corporations with at least two but not more than 15 incorporators who may either be natural persons, partnerships, associations or corporations.

 

SEC chairperson Emilio Aquino said eSPARC “brings us another step closer to our vision of a unified system” that can seamlessly handle the company registration process from end to end. 

 

“As we proceed further with the commission’s digital transformation, we also have to ensure that our stakeholders may adapt well and be able to fully take advantage of our ongoing initiatives, which are after all aimed at improving the ease of doing business in the country for them.”

  

The new company registration system, which can be accessed at secwebapps.sec.gov.ph/application, replaced the interim registration system, which was previously used for the registration of OPCs and corporations with two to four incorporators, as well as the Company Registration System (CRS) for domestic and foreign-owned corporations with at least five incorporators.

 

Main article here.

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