The Securities and Exchange Commission (SEC) has launched a new company registration system called the Electronic Simplified Processing of Application for Registration of Company (eSPARC) to make corporate registration in the country faster and easier. This is the latest of the SEC’s digital transformation initiatives, which was launched on April 19, 2021.
The new company registration system, eSPARC, accepts new applications for registration of One Person Corporations (OPC) and corporations with two to four incorporators, which were previously handled by the Interim Registration System (IRS), as well as regular and domestic-owned corporations, both stock and nonstock, which were previously handled by the Company Registration System (CRS).
Applicants or duly appointed representatives may submit their proposed company names and information, along with the required documents, to be reviewed by the SEC and track the status of their applications using the platform’s real-time inquiry feature. Applicants may access the SEC-eSPARC using the link: https://secwebapps.sec.gov.ph. Status of existing application may also be viewed by selecting the “Open existing application form” option.
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