The Securities and Exchange Commission (SEC) now requires all company registrations to be completed fully online, dropping the need for notarized documents and physical submissions.
In a memo issued on April 4, the SEC announced that all domestic stock corporations must now use the SEC Zuper Easy Registration Online (ZERO), a system under its Electronic Simplified Processing of Application for Registration of Company (eSPARC). ZERO is also accessible via the One Day Submission and E-registration of Companies (OneSEC) platform.
The move aims to simplify company registration by removing common hurdles such as manual signatures and notarization. SEC ZERO allows users to complete the entire process digitally.
“SEC ZERO exemplifies our commitment to digitalization and sustainability, making setting up a business easier and faster than ever. By allowing companies to authenticate their registration documents online, company registration can now be done anytime and anywhere,” said SEC chair Emilio Aquino.
Credentials and authentication
To access SEC ZERO, users must go through eSECURE, the agency’s online identity system. Document submissions are verified through the Electronic Submission Authentication Portal (eSAP), which uses one-time passwords in place of handwritten signatures.
“The credentialing process through eSECURE, plus authentication through eSAP, further enables us to filter out scheming individuals wanting to use the corporate vehicle to defraud the public. With this, those registering corporations are identified and can be held accountable, if need be,” Aquino said.
Launched in July 2024 as part of SEC’s ongoing digital efforts, the ZERO system has already processed 1,874 company registrations.
Starting April 7, the new process covers all domestic stock corporations, including those with foreign equity. Filipino-owned corporations may also register through OneSEC. Lending and financing companies, as well as foreign corporations, may still use the regular eSPARC process for three months. After that, the use of SEC ZERO becomes mandatory for all.