The Securities and Exchange Commission (SEC) has announced a significant shift in its company registration process, fully transitioning to an online platform without need for notarization or submission of hard copy documents. Effective 4 April 2024, SEC Memorandum Circular No. 3 mandates the use of the agency’s Zuper Easy Registration Online (ZERO) system for registering corporations via the Electronic Simplified Processing of Application for Registration of Company (eSPARC) and One Day Submission and E-registration of Companies (OneSEC) portals.
The ZERO system eliminates the requirement for physical signatures and notarization, leveraging online authentication through the Electronic SEC User Registration Environment (eSECURE) and the Electronic Submission Authentication Portal (eSAP). This system uses one-time passwords (OTPs) to authenticate documents, ensuring that company registration can be completed electronically at any time and from anywhere.
SEC chairman Emilio B. Aquino emphasized that the digital initiative not only simplifies the registration process but also enhances security by filtering out fraudulent actors. “With eSECURE and eSAP, we can better ensure accountability and transparency in the registration process,” he stated.
Starting 7 April 2025, all domestic stock corporations, excluding lending and financing companies, will be required to use SEC ZERO for registration. Lending, financing, and foreign corporations will continue using traditional methods until July 2025, when SEC ZERO will be mandatory for all entities.
This new system streamlines the process by allowing applicants to complete registration online, authenticate documents through OTPs, and make payments electronically, culminating in the issuance of a digital certificate of incorporation. The change marks a significant step towards the SEC’s goal of digital transformation and sustainability in business registration.
