TARLAC CITY (PIA) – Securities and Exchange Commission – Tarlac Extension Office (SEC-TEO) recorded an increase of 54 percent on company registrations for the first quarter of 2023 compared to the 1st quarter of the previous year.
A total of 446 companies were newly registered including 157 stock corporations; 194 non-stock corporations; 46 partnerships; 60 one-person corporations; and 255 companies with less than five incorporators.
SEC-TEO Director Richard Laus attributes the double-digit increase to the implementation of the digitalization reforms and expanded online services of the Commission in support of the government’s objective to improve the ease of doing business in the country.
“Now, the registration of companies is made easier and faster through the Electronic Simplified Processing of Application for Registration of Companies, an online registration facility launched in April 2021 which allows an applicant to submit the proposed company name and input details of the Articles of Incorporation online,” Laus said.
Of the 712 entities registered this quarter, 78% or 556 entities came from Central Luzon with the province of Pampanga posting the highest number of registered entities at 190.
It is followed by the provinces of Tarlac and Nueva Ecija with 119 and 97 entities respectively.
Meanwhile, the rest of the newly-registered companies were from the province of Pangasinan, cities of Metro Manila, and Southern Luzon provinces.
SEC-TEO trained the entities on the submission of their annual reportorial requirements including the process of amending their articles of incorporation and by-laws through its monthly online orientation. (CLJD/GLSB-PIA 3)
