NEW COMPANY REGISTRATION SYSTEM launched this week to facilitate easier listing of corporations in the country, the Securities and Exchange Commission (SEC) recently announced.
Jola Lyn Tingson, information officer at SEC Iloilo disclosed that the ‘Electronic Simplified Processing of Application for Registration of Company (eSPARC) would be accepted and processed to facilitate registration of corporations in the country.
“The SEC will process starting April 19 under eSPARC applications for registration of one person corporations (OPCs) and both stock and nonstock domestic corporations with at least 2 but not more than 15 incorporators,” the briefing said.
The new system, which can be accessed at
https://secwebapps.sec.gov.ph/application, replaced the Interim Registration System, which was previously used for the registration of OPCs and corporations with 2 to 4 incorporators.
It replaced as well the Company Registration System (CRS) for domestic and foreign-owned corporations with at least 5 incorporators.
The new system has been integrated with the SEC Cashiering System and online payment portal to provide seamless means in the payment of registration fees.
The eSPARC is likewise linked to the Central Business Portal, the national government’s centralized platform that allows the public to access registration forms, fill out information and submit requirements needed for business registration.
