The Securities and Exchange Commission is adopting a fully online and paperless company registration process to make setting up a business in the country easier and faster.
Following its issuance of Memorandum Circular 3, Series of 2024, requiring the use of SEC Zuper Easy Registration Online (ZERO) for company registrations, applicants no longer have to submit hard copies of physically signed or notarized registration documents.
An application under the Electronic Simplified Processing of Application for Registration of Company (eSPARC), SEC ZERO eliminates the need for physical signatures and notarization as well as the submission of hard copies of registration documents.
Since its launch in July 2024 as part of the commission’s third wave of digital initiatives, SEC ZERO has facilitated the registration of a total of 1,874 companies. SEC chairperson Emilio Aquino said SEC ZERO exemplifies the commission’s commitment to digitization and sustainability.
The SEC said that all domestic stock corporations, excluding lending and financing companies, would be processed through SEC ZERO starting April 7, 2025. Corporations covered include those that are fully owned by Filipinos or those with foreign equity.
Innovations and initiatives to make the process easier for Filipinos, business and corporations included, are always welcome, especially if it is sustainable and results in tangible results while closing loopholes and inefficiencies that have plagued the system. The fully online and paperless registration process that the SEC has adopted hopefully decreases the red tape and expenses involved in setting up new corporations that could contribute positively to the country’s economic development, along with generating jobs and livelihood for Filipinos.
If this initiative proves successful, other government agencies that can learn from such successes should take note and apply those learnings to their own improvements.*
