Articles worth reading

LandBank launches mobile app for savings account opening

account_balanceMetro Manila access_time5 days ago

State-owned Land Bank of the Philippines (Landbank) on Wednesday launched through its Facebook page its digital onboarding system (DOBS) Mobile, which will allow people to open a savings account using their mobile phones, according to a report by Phi...

Bulacan solar power plant starts operations 

account_balanceMetro Manila access_time5 days ago

The 50-megawatts (MW) solar power plant of PowerSource First Bulacan Solar, Inc. (PFBSI) has officially started commercial operations and now provides clean and renewable power to the Luzon grid. Now called BulacanSol, the newly completed plant secu...

Manila starts administration of Pfizer vaccines

account_balanceManila access_time5 days ago

The city government of Manila will start the deployment of the newly-arrived Pfizer coronavirus disease 2019 (Covid-19) vaccines for the A1 group (medical frontliners) starting Thursday, according to a report by Philippine News Agency. In a Fac...

Metro News

SEC launches electronic registration system 

account_balanceMetro News account_circleNoah James chat_bubble_outline0 Comments

The Securities and Exchange Commission (SEC) has launched the Electronic Simplified Processing of Application for Registration of Company (eSPARC) to facilitate faster and easier registration of corporations, according to a report by Philippine News Agency.

Starting April 19, the commission will accept and process under eSPARC all applications for registration of one person corporations (OPCs) and both stock and nonstock domestic corporations with at least two but not more than 15 incorporators who may either be natural persons, partnerships, associations or corporations.

SEC chairperson Emilio Aquino said eSPARC “brings us another step closer to our vision of a unified system” that can seamlessly handle the company registration process from end to end. 

Advertisement

“As we proceed further with the commission’s digital transformation, we also have to ensure that our stakeholders may adapt well and be able to fully take advantage of our ongoing initiatives, which are after all aimed at improving the ease of doing business in the country for them.”

The new company registration 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 two to four incorporators, as well as the Company Registration System (CRS) for domestic and foreign-owned corporations with at least five incorporators.

With the launch of eSPARC, only applications for the registration of partnerships and foreign corporations will be accepted and processed in the CRS. 

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.

On eSPARC, applicants or their duly appointed representatives may submit their proposed company names, input their company information, and upload the documentary requirements for review by the commission. The system also features a real-time inquiry facility on the status of applications.

The new system has been integrated with the SEC cashiering system and the commission’s online payment portal to provide a faster, seamless, and convenient means to pay registration fees.

eSPARC is also linked to the Central Business Portal, the national government’s centralized platform that allows the public to access registration forms, fill out the information, and submit requirements needed for business registration and related transactions.

It is the latest initiative in the digital transformation program of the SEC. 

On March 15, the commission launched the online submission tool, which allows for the online submission of annual financial statements, general information sheet, and other covered reports.

Earlier on March 1, the commission launched an online payment portal, giving clients the option to settle their registration and other transaction fees through online banking or their digital wallets.


date_rangeDate Published
4 weeks ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Quezon City ramps up testing, contact tracing

account_balanceQuezon City chrome_reader_mode2 days ago

More COVID-19 cases have been identified by the Quezon City government due to its intensified testing and contact tracing efforts. According to the recent report by the OCTA Research Group, the average number of new cases per day in the city is at 4...

Average new Covid cases in NCR fall to 1,417

account_balanceMetro Manila chrome_reader_mode2 hours ago

The average daily number of new cases of coronavirus disease 2019 (Covid-19) in the National Capital Region (NCR) has decreased to 1,417 based on the latest monitoring report by OCTA Research, according to a report by Philippine News Agency. In its ...

Manila Mayor Francisco %u201CIsko Moreno%u201D Domagoso

Isko criticizes 'super slow' deployment of vaccines 

account_balanceManila chrome_reader_mode6 days ago

Manila Mayor Francisco “Isko Moreno” Domagoso has expressed dismay over the “super slow” deployment of vaccines to local government units, according to a report by Manila Bulletin. In his late night mayoral address on May 11,...

The struggles in 2020 of the casino industry in the Philippines

account_balanceMetro Manila chrome_reader_mode8 months ago

Do you want to learn more about the challenges and predictions for the gambling industry in the Philippines? Find all answers in this article!

Let's Stay Connected Like us on our Facebook page.
×
Click on the article to continue reading
Quezon City adopts no contact apprehension system Red Cross pushes saliva test Vaccines from COVAX to arrive in Q1 Makati Shangri-La to close doors on Feb. 1 Cities in NCR to start vaccination simultaneously Mother, girlfriend of Filipino infected with UK variant also test positive Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature