THE new company registration system of the Securities and Exchange Commission (SEC) called the Electronic Simplified Processing of Application for Registration of Company (eSPARC) launched online on Monday.
Applications to register as one person corporations (OPCs) and as stock and nonstock domestic corporations, with at least two but not over 15 incorporators, will be now accepted through the new platform.
“eSPARC brings us another step closer to our vision of a unified system that can seamlessly handle the company registration process from end to end,” Emilio B. Aquino, chairperson of the SEC, said in a statement.
It may be accessed via https://secwebapps.sec.gov.ph/application.
Applicants or duly appointed representatives may submit their proposed company names and information, along with the required documents to be reviewed by the SEC. The platform has a real-time inquiry facility where applicants can track the status of their applications.
eSPARC is linked to the SEC Cashiering System, the commission’s online payment portal, and its Central Business Portal.
“As we proceed further with the commission’s digital transformation, we also have to ensure that our stakeholders may adapt well and be able to fully take advantage of our ongoing initiatives, which are after all aimed at improving the ease of doing business in the country for them,” Mr. Aquino said.
eSPARC replaces the Interim Registration System, previously used by OPCs and corporations with two to four incorporators, and the Company Registration System (CRS) platform for domestic and foreign-owned corporations with at least five incorporators.
The CRS will only accept applications for the registration of foreign corporations and partnerships moving forward.
Applications filed through the CRS before April 19 will still be processed by the system unless otherwise instructed. — Keren Concepcion G. Valmonte