April 1, 2020 – Despite the ongoing “enhanced community quarantine”, the Philippines’ Securities and Exchange Commission continues accepting corporation and partnership registrations.
In an email, SEC revealed 2,500 applications have been processed so far. The SEC Computerized Registration System (CRS) is open, allowing pre-processing of company registrations. Companies may apply through https://crs.sec.gov.ph/ and upload there the necessary documents as well as verify their proposed company name, and have documents reviewed.
SEC is clear, however, that because of limited mobility, that payment verification and the generation of certificates for the company applying will only be released by the Company Registration and Monitoring Department (CRMD) after the enhanced community quarantine has been lifted.
Here are some statistics from the 2,500 applicants that were processed:
- applicants that were promoted to have their certificates of registration be generated – 314
- applicants that were assessed for payment – 1,014
- applicants that were asked to provide additional requirements – 1,172
The CRMD also approved 429 company name verification appeals and denied 133 of them. If a company’s name verification appeal has been approved, they may proceed with the rest of the registration process.
Companies may send amendment changes and clearances (and the requirements) to email@example.com. Those who want to apply for changes in capital stock, as well as mergers and consolidations, may send the requirements to firstname.lastname@example.org
This article is published on BitPinas: PH SEC Continues Online Registrations During Community Quarantine