If you’re forming an organization or a partnership, the primary stop is the Philippine Securities and Exchange Commission or the SEC. You need to reserve a unique title to your company (which is good for 30 to ninety days). Once you have reserved your name, you must place your required capital (paid-up) in a bank of your selection, have that financial institution difficulty a certificates to you, replenish the official SEC form, obtain the signatures of all incorporators (and their tax identification numbers for Filipinos or passport numbers for foreigners) then file the stated papers with the SEC. If all goes effectively, your papers may be accredited by the SEC in one week’s time.
This type of enterprise entity is simple and cheap to set up. There aren’t any formal or authorized steps required in forming a partnership, unlike forming a corporation, for which it’s important to file with your …