The Securities and Exchange Commission – Tarlac Extension Office (SEC-TEO) has recorded a 25.57% increase in company registration for the fiscal year 2022.
In a statement, SEC-TEO Director Richard R. Laus said the total number of entities reached 2,249, higher than the 1,791 newly registered companies reported in the year 2021.
“We welcome this double-digit increase which was credited to the effort of the commission in establishing a company registration portal called the Electronic Simplified Processing of Application for Registration of Company or eSPARC which includes the One day Submission and E-registration of Companies or OneSEC processing option, aiming to further improve the ease of doing business in the country,” Laus added.
Broken down by entity, the SEC TEO registered 608 stock corporations; 686 non-stock corporations; 127 partnerships; 166 one-person corporations (OPC) and 662 companies with less than five incorporators.
Meanwhile, nearly 80% of the new corporations registered by SEC-TEO last year came from the provinces under its jurisdiction: Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, Zambales, and Pangasinan. In addition, SEC-TEO was able to register companies outside its area of responsibility which includes entities located in the National Capital Region (NCR), Southern Luzon provinces and other parts of the country that will make up the remaining 20% of the total number of companies registered by SEC-TEO for 2022.
Further, Director Laus is very optimistic that this milestone achievement will foster inclusive economic growth and increase business formation this 2023.
To streamline the registration process, the SEC-TEO created a contact center to cater the concerns of its clients in terms of company registration through its email address at firstname.lastname@example.org and hotline number at 0926-902-2405. (SEC TEO)