How to Navigate the SEC’s Online Registration System

The Securities and Exchange Commission (SEC) of the Philippines has implemented an Online Registration System (ORS) to streamline the process of registering corporations, partnerships, and other business entities. Navigating the SEC’s ORS can significantly simplify and expedite the registration process. This guide provides step-by-step instructions on how to use the SEC’s Online Registration System effectively.

Step 1: Preparing for Online Registration

1.1 Gather Required Information and Documents

• Proposed Name of the Entity: Think of at least three proposed names in order of preference.
• Nature of Business: Clearly define the primary purpose of the business.
• Principal Office Address: Provide a complete address for the principal office.
• Incorporators/Partners Information: Full names, addresses, and Tax Identification Numbers (TIN) of incorporators or partners.
• Capital Structure: Details on authorized, subscribed, and paid-up capital for corporations.

1.2 Check Name Availability

• Step: Use the SEC’s Name Verification system to check the availability of the proposed business names.
• Process:
  • Visit the SEC Name Verification website.
  • Enter the proposed names and check for any existing similar names.

Step 2: Accessing the SEC Online Registration System

2.1 Create an Account

• Step: If you do not have an account, create one on the SEC Online Registration System.
• Process:
  • Go to the SEC ORS website.
  • Click on “Create an Account” and fill in the required details.
  • Verify your email address through the link sent to your registered email.

2.2 Log In to Your Account

• Step: Log in to your account using your registered email and password.
• Process:
  • Enter your email and password on the SEC ORS login page.
  • Click “Log In” to access the system.

Step 3: Name Reservation

3.1 Submit Name Reservation Request

• Step: Reserve your chosen business name through the ORS.
• Process:
  • Click on “Name Reservation” in the dashboard.
  • Enter the proposed names in order of preference.
  • Submit the request and wait for the SEC’s approval.

3.2 Payment for Name Reservation

• Step: Pay the name reservation fee.
• Process:
  • Follow the instructions provided for online payment.
  • Save the payment confirmation and receipt for your records.

Step 4: Filling Out the Online Registration Form

4.1 Complete the Application Form

• Step: Fill out the online registration form with the required information.
• Process:
  • Click on “New Registration” in the dashboard.
  • Select the type of entity you want to register (e.g., Corporation, Partnership).
  • Fill in all the required details, including business name, nature of business, principal office address, incorporators’ information, and capital structure.
  • Upload the necessary documents, such as Articles of Incorporation and By-Laws for corporations or Articles of Partnership for partnerships.

4.2 Review and Validate Information

• Step: Review all the information entered to ensure accuracy.
• Process:
  • Check each section carefully for any errors or omissions.
  • Use the validation tool provided by the ORS to ensure all required fields are complete.

Step 5: Submission and Payment

5.1 Submit the Application

• Step: Submit the completed registration form.
• Process:
  • Click on “Submit” to send your application to the SEC for review.
  • Wait for an acknowledgment receipt confirming that your application has been received.

5.2 Pay the Registration Fees

• Step: Pay the required registration fees.
• Process:
  • Follow the instructions for payment, which may include online payment options or payment through accredited banks.
  • Save the payment confirmation and receipt for your records.

Step 6: SEC Review and Approval

6.1 Wait for SEC Review

• Step: The SEC will review your application and may request additional information or documents.
• Process:
  • Monitor your email and the ORS dashboard for any updates or requests from the SEC.
  • Provide any additional information or documents promptly if requested.

6.2 Approval and Issuance of Certificate

• Step: Once approved, the SEC will issue the Certificate of Incorporation or Certificate of Registration.
• Process:
  • Download and print the certificate from the ORS.
  • Keep the original and copies of the certificate for your business records.

Step 7: Post-Registration Requirements

7.1 Register with the Bureau of Internal Revenue (BIR)

• Step: Register the business with the BIR for tax purposes.
• Process:
  • Submit the SEC Certificate of Incorporation/Registration, along with other required documents, to the BIR.
  • Obtain a Tax Identification Number (TIN), register books of accounts, and secure authority to print receipts and invoices.

7.2 Secure Local Government Permits

• Step: Obtain necessary permits and licenses from the local government unit (LGU).
• Process:
  • Apply for a Barangay Clearance and Mayor’s Permit.
  • Ensure compliance with local zoning ordinances and other regulations.

7.3 Register with Other Government Agencies

• Step: Depending on the nature of your business, you may need to register with other government agencies such as the Social Security System (SSS), Philippine Health Insurance Corporation (PhilHealth), and Home Development Mutual Fund (Pag-IBIG).
• Process:
  • Submit the required documents to these agencies to register as an employer and ensure compliance with employee benefit regulations.

Tips for Successful Online Registration

1. Prepare All Documents in Advance: Have all necessary documents ready in digital format for easy upload.
2. Double-Check Information: Ensure all information entered is accurate and complete to avoid delays.
3. Monitor Communication: Regularly check your email and ORS dashboard for updates or requests from the SEC.
4. Keep Records: Maintain copies of all submissions, confirmations, and receipts for your records.

Conclusion

Navigating the SEC’s Online Registration System can streamline the process of registering your business in the Philippines. By following these steps and ensuring compliance with all requirements, you can successfully register your corporation, partnership, or other business entities.