SEC Announces Migration of Applications for Registration and Licensing to eSPARC
The Philippine Securities and Exchange Commission (SEC) issued a notice stating that applications for the registration/licensing system of partnerships and foreign corporations will now be processed in the SEC Electronic Simplified Processing of Application for Registration of Company (eSPARC). Starting September 15, applications under the previous system will no longer be accepted.
All pending applications starting with the company name reservation and those applications in the preform and in-form status in the CRS must re-apply in the SEC eSPARC. Likewise, applications in compliance status must also re-apply through the new system.
Only those applicants whose applications have been approved for payment in CRS and have been provided with a Assessment Form (PAF) should proceed in paying the registration fees.
Applicants that have already paid their registration fees but cannot upload the proof of payment in CRS should submit the proof of payment to the s selected processing office for the issuance of the Certificate of Incorporation. Likewise, applicants that have already uploaded proof of payment in CRS but have not yet been issued a Certificate of Incorporation should submit the proof of payment with the necessary copies of the registration documents to the selected processing office.
The full notice can be accessed here.