In relation to your query, here is a brief rundown of the various corporations,

and their necessary requisites, which may be constituted under the Revised Corporation
Code.

Generally speaking a corporation is a legal entity created by virtue of law

comprised of several individuals who act as a single entity to advance the various
identified interests of the corporation as a whole. It possesses various rights under law
such as the right of succession and other powers, attributes, and properties expressly
authorized by law.

Corporations may be stock or nonstock. Stock corporations are those which have
capital stock divided into shares and are authorized to distribute to the holders of such
shares, dividends, or allotments of any surplus profits made by the company on the
basis of the shares held. All other corporations which neither distributes shares of stock
or dividends are considered nonstock corporations.

Stock Corporations may further be classified into Domestic and Foreign.

Domestic corporations are those which are incorporated or formed under Philippine
Laws. Whereas Foreign corporations are those organized or formed under foreign laws
but are legally conducting business under the Philippines.

 As required by law, domestic corporations may be formed by two or more

persons, but not exceeding fifteen (15) incorporators who must have individual
subscriptions of at least one (1) share in the company; An incorporator may be
any person, partnership, association or corporation who are stockholders or
members mentioned in the Articles of Incorporation as originally forming and
composing the corporation and are signatories thereof.

Lastly, we also have the One Person Corporation. This is a special corporation
with a single stockholder. Only a natural person, trust or estate may be registered as a
One Person Corporation. The incorporator shall always be a natural person of legal age.
The incorporator can be the trustee, administrator or any other person exercising
fiduciary duties in the case of a trust or an estate.

In a One Person Corporation the single stockholder/incorporator shall be the

sole Director and President of the corporation and enjoys limited liability and complete
dominion.

Additionally, we have the pertinent government agencies which may be

involved in the Registration Process:

 Securities and Exchange Commission (SEC) (for the creation of juridical entity of the
corporation)
 Bureau of Internal Revenue (BIR)
 Local Government Units (LGUs) of the location where you want to establish your
business
o Barangay Hall
o Mayor’s Office
o Business Permit and Licensing Office (BPLO) of the Municipal/City Hall

We hope to have addressed your queries on the matter with the information
provided. Should you require additional information or further assistance concerning
this, you may contact us at