Application for corporation registration goes online

CEBU, Philippines —  The Securities and Exchange Commission (SEC) has started accepting online application for corporations seeking to be registered through the Electronic Simplified Processing of Application for Registration of Company or eSPARC.

Now accepted under eSPARC are new applications for registration for One-Person Corporations (OPC) and two- to four-person corporations, which was done through Interim Registration System, and registration of regular and domestic-owned corporations – both stock and non-stock, which was done through Company Registration System.

It can be accessed at https://secwebapps.sec.gov.ph/application which started last April 19, 2021.

The eSPARC is the replacement of the IRS and the CRS.

“Only applications for the registration of partnerships and foreign corporations will be accepted and processed in the CRS as eSPARC went live. Applications submitted through the CRS prior to April 19 will still be processed by the system, unless applicants are instructed to resubmit their applications through eSPARC,” SEC said in a press release.

Under the new system, applicants may submit their proposed company names, input company information, and upload the documentary requirements subject for review of the Commission.

SEC Cebu Extension Office officer-in-charge lawyer Alma Marie Dalena said this system introduces faster transaction process online as the online payment and cashiering system will be integrated.

The eSPARC will also be linked to the Central Business Portal, the national government’s centralized platform allowing public to access registration forms, fill out information, and submit requirements needed for business registration and related transactions.  — JMD (FREEMAN)