How to register your business with the Securities and Exchange Commission (SEC)
How do you register your business with various government agencies? In a previous article we have discussed how to register your business with the Department of Trade and Industry (DTI), now we will discuss about the registration process for the Securities and Exchange Commission (SEC).
The SEC is the government agency that gives the business enterprise its legal entity. Partnership and corporations need to be registered with the SEC while single proprietorship need not register.
You can register your business at the Securities and Exchange Commission (SEC) office at:
SEC Bldg., EDSA, Greenhills, Mandaluyong CIty.
Tel. No. 584 0923 / Fax No, 684 5293
Here are the requirements for SEC application. Applicant can either be stock (S), non-stock (NS) or Partnership (P).
- Name Verification Slip (S/NS/P)
- Article of Incorporation and By-laws or Articles of Partnership (S/NS/P)
- Treasurer’s Affidavit/Authority to Verify Bank Accounts (S)
- Bank Certificate of Deposit (notarized in place where the bank is located) (S)
- Written understanding to Change Corporate Name by any incorporator or Director, Trustee or Partner. (S/NS/P)
- Registration Data Sheet (S/NS/P)
- Clearance from other government agencies (S/NS/P)
- Resolution of the Board of Trustees that the corporation will comply with SEC requirements for non-stock corporations (NS)
- List of members certified by the Secretary and undertaking to submit list of additional members to SEC from time to time (NS)
- List of contributors and their corresponding contributions certified by the Treasurer (NS)
- Affidavit of Affirmation or Verification by the Chief Priest, Minister, Rabbi or Presiding Elder (for religious organization) (NS)
- Customs Broken Licenses and PTR of at least 2 Officers or Partners for custom brokerage (NS/P)
- Articles of Partnership (for limiter Partnerships this should be executed under oath) (P)
- Foreign Investment Application Form (for subsidiaries of Foreign corporations) (S)
Here are the procedures on how to register your business with the SEC:
- Verify/reserved proposed name with the Name Verification Unit.
- Draw up the Articles of Incorporation and By-Las in accordance with the Corporation Code. Blank forms are also available from the SECCU.
- If required, get endorsements from other government agencies.
- Deposit paid-up capital/contribution (for foundations only) in the bank.
- Present six (6) sets of the accomplished forms and documents for pre-processing at the CRMD. Only complete application documents are accepted for processing. All documents executed outside the Philippines must be authenticated by the appropriate Philippine Embassy or consulate in the area concerned.
- Pay the filling fees to the cashier.
- Claim the Certificate/License from the Releasing Unit, Records Division upon presentation of the official receipt secured for payment of filling fees.
You can also accomplish your registration online at www.sec.gov.ph. Registering with the proper government agency is very vital to avoid charges, penalties and the possibility of business closure.
I hope that you have learned how to register your business with the SEC. You can ask us additional questions by posting them on the comment section below.