A Corporation is a legal business structure that establishes the business as being a separate entity from the owner(s). This means that the assets, income, debts, and liabilities of the business belong to corporation, not to the owner(s).
Basic Requirements
- Name Verification Slip (secure online or from SEC Name Verification Unit)
- Articles of Incorporation and By-laws
- Treasurer’s Affidavit
- Affidavit of incorporator or director undertaking to change corporate name (not required if Articles of Incorporation has provision on this commitment)
Additional Requirements
Endorsement/clearance from other government agencies, if applicable:
- For corporations with foreign equity, proof of remittance by non-resident aliens and foreign corporate subscribers who want to register their investment with the Bangko Sentralng Pilipinas (BSP )
- For corporations with more than 40% foreign equity, Securities and Exchange Commission (SEC) Form No. F- 100
- For corporations with Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA) or other economic zones application, Certificate of Authority or endorsement from said government agencies
Additional Requirements Based on Kind of Payment of Subscription Indicated Hereunder
Cash
- Bank Certificate of deposit of paid up capital notarized in place where signed.
- For corporations with foreign subscribers who want to register their investments with the BSP: Proof of inward remittance or bank certificate.
Land and/ Building/Condominium Unit
- Detailed schedule of the property showing its registered owner, location, area, Transfer of Land Title (TCT) TCT No., tax declaration number and the basis of the transfer value (market value/assessed value/ zonal value or appraised value ).
- Copy of TCT/ Conditional Cash Transfer (CCT) and tax declaration sheet, certified by the Register of Deeds and the Assessor’s Office, respectively.
- If transfer value is based on zonal value: Latest zonal valuation certified by the Bureau of Internal Revenue (BIR) .
- If transfer value is based on appraised value: Appraisal report by a licensed real estate appraiser (not more than six months old).
