REGISTRATION OF A CORPORATION
GENERAL PROCEDURE AND PERTINENT PROVISIONS OF CORPORATION CODE OF THEPHILIPPINES
REQUIRED DOCUMENTS FOR APPLICANTCORPORATION(STOCK CORPORATIONS)
1. Name Verification Slip (on-line or at the Name2. Verification Unit, 2nd floor, SEC Bldg.)3. Articles of Incorporation and By-laws
4. Treasurer’s Affidavit
5. Bank Certificate of Deposit (notarized in place wherebank is located)6. Clearance from other government agencies (if applicable)7. Foreign Investment Application Form F
100 (forsubsidiaries of foreign corporations)8. Proof of Inward Remittance by Non-Resident Aliens/Subscribers
Number and qualifications of incorporators
. - Any number of natural personsnot less than five (5) but not more than fifteen (15), all of legal age and a majority of whom are residents of the Philippines, may form a private corporation for any lawfulpurpose or purposes. Each of the incorporators of s stock corporation must own or be asubscriber to at least one (1) share of the capital stock of the corporation.
- A corporation shall exist for a period not exceeding fifty (50)years from the date of incorporation unless sooner dissolved or unless said period isextended. The corporate term as originally stated in the articles of incorporation may beextended for periods not exceeding fifty (50) years in any single instance by anamendment of the articles of incorporation, in accordance with this Code; Provided, That no extension can be made earlier than five (5) years prior to the original or subsequent expiry date(s) unless there are justifiable reasons for an earlier extension as may bedetermined by the Securities and Exchange Commission.
Minimum capital stock required of stock corporations.
- Stock corporationsincorporated under this Code shall not be required to have any minimum authorizedcapital stock except as otherwise specifically provided for by special law, and subject tothe provisions of the following section.
Amount of capital stock to be subscribed and paid for the purposes of incorporation.
- At least twenty-five percent (25%) of the authorized capital stock asstated in the articles of incorporation must be subscribed at the time of incorporation, andat least twenty-five (25%) per cent of the total subscription must be paid uponsubscription, the balance to be payable on a date or dates fixed in the contract of subscription without need of call, or in the absence of a fixed date or dates, upon call forpayment by the board of directors: Provided, however, That in no case shall the paid-upcapital be less than five Thousand (P5,000.00) pesos.