Legalities

- In a Corporation, there are several key steps and permits involved in the registration of
the business:

1. Fill up the required information for the registration process for a Corporation

➔ Initial Information: Similar to a partnership, you will need to provide information such as
full names, resident addresses, Tax Identification Numbers (TINs), nationalities, and
capitalization for the incorporators.

➔ Authorized Capital: This is the amount of capital that the incorporators intend to invest
in the business.

➔ Subscribe Capital: This represents a percentage of the authorized capital that

individuals commit to subscribing to as shareholders. There may have been a previous
requirement for a minimum subscription, but it appears that there's no longer a
requirement for a minimum subscribed capital.

➔ Paid-up Capital: This is the actual amount of money paid by shareholders. At least 25%
of the subscribed capital was previously required, but it seems that this requirement has
been removed, and there's no minimum required amount for paid-up capital.

- Tax Optimization: You can choose to register with lower subscription and paid-up
capital to minimize tax liability. However, it's essential to set the authorized capital at the
right level for your business needs.

2. Prepare Legal Documents

- As part of the corporation registration process, you need to prepare several essential
documents, including:
○ Articles of Incorporation
○ By-laws
○ Treasurer's Affidavit
○ Bank Certificate (confirming the appointment of a treasurer)

- Minimum Required Capital: Ensure that you have the minimum required capital
amount deposited in the bank as specified by local regulations.

3. Online Processing
- The registration process is conducted online, and you'll need to follow the specific online
procedures provided by the relevant authority.
4. Notarization
- After preparing the necessary documents, they must be notarized by a legal notary.

5. Upload to SEC Website

- The notarized documents are then uploaded to the Securities and Exchange
Commission (SEC) website for review and processing.

6. Assessment
- The SEC will assess the documents and either accept or reject them based on
compliance with legal requirements.

7. Online Certification
- If your submission is accepted, you will be provided with a link to access your online
certification, indicating that your corporation is officially registered.

For a One-Person Corporation (OPC)

- In the case of a One-Person Corporation, there may be additional requirements, such as
submitting an affidavit appointing trustees to manage the corporation in case the sole
shareholder becomes incapacitated.