SEC Company Registration
Electronic Simplified Processing of Application for Registration of Company (eSPARC)
The Securities and Exchange Commission beginning April 19, 2021, will implement a new system of registering One Person Corporation (OPC), Corporation with only less than five (5) incorporators, Regular Domestic and Foreign-Owned Stock and Non-Stock Corporation using the eSPARC or the electronic Simplified Processing of Application for Registration of Company. Registration Partnership and Foreign Corporations will remain to be processed through the Company Registration System (CRS).
Since the passage of the law amending the Corporation Code in 2019 – RA 11232, some of the amended features of the law were not seen or reflected in the system of registration being used particularly the CRS. With this new system, registering an OPC and those with less than the usual minimum number of five (5) incorporators can now register. The Securities and Exchange Commission will be issuing additional information about the new system and its URL.
Pending application for registration submitted through the CRS system prior to the actual implementation of the new system on April 19, 2019, will remain to be processed using the CRS unless otherwise notified by the concerned officer of the SEC for resubmission of their application using the new system.