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Regular Processing of SEC-ESPARC User Guide 1 | P a g e SEC - eLECTRONIC SIMPLI

Regular Processing of SEC-ESPARC User Guide 1 | P a g e SEC - eLECTRONIC SIMPLIFIED PROCESSING OF APPLICATION FOR REGISTRATION OF COMPANY (SEC - ESPARC) https://secwebapps.sec.gov.ph USER GUIDE REGULAR PROCESSING OF ESPARC The SEC - ESPARC is a facility to cater application for registration of One Person Corporation (OPC) and Domestic corporations (stock and non-stock) with 2 or more incorporators who may either be natural person, partnership, association or corporations, singly or jointly with others but not more than fifteen (15) in number. The system allows the applicant or his duly appointed representative to submit the proposed company name and input details of the articles of incorporation for review of the Commission. Aside from this, application for the recording of partnerships and license to do business for foreign corporations are now available in the ESPARC. Regular Processing of SEC-ESPARC User Guide 2 | P a g e To continue, click the “Proceed to Regular Processing” button. The ESPARC Regular Processing page will be displayed next. The welcome page contains the (a) Terms of Use, (b) Provisions on the Procedure, and (c) Consent Form of System User. To continue, click the “Proceed to application form” button that can be found at the lower-left section screen/page. The application form will be displayed next. Regular Processing of SEC-ESPARC User Guide 3 | P a g e Application form will be displayed next. The Regular Processing of ESPARC application form is grouped into six (6) steps. Each step is composed of sections. The applicant must be able to complete all six steps to enable him to submit his application. In filling out the application form, please take note of the following: 1. All fields marked with a red asterisk ( * ) are mandatory fields and must be given correct values; 2. The system displays Information Message, Confirmation Message and Error Message whichever is applicable; and 3. Lastly, the system sends email notifications for One-Time Passcode, when the application is created, when name verification process is completed, when SEC approved or disapproved the application, and when payment is received. This user guide focuses on filling out of application form, submission of the application, and viewing of application’s updated status. Regular Processing of SEC-ESPARC User Guide 4 | P a g e A. SUBMISSION OF APPLICATION STEP 1 – NAME VERIFICATION Fill out the application forms correctly and completely. 1.A Select Processing Office Note: Processing office refers to the SEC Office where the signed and notarized hard copies of the registration documents will be submitted and where the Certificate of Registration will be released 1.B Provide correct details for applicant/authorized representative contact details section Note: All email notifications are sent to the email address you indicated. 1.C Provide correct details for the company type section using the provided drop-down fields Note: Corporations are classified by industry based on the Philippine Standard Industrial Classification (PSIC). Select the exact or closely related industry classification and group in relation to the proposed primary business activity. For easy reference, click the link provided for PSIC- Purpose Finder. Regular Processing of SEC-ESPARC User Guide 5 | P a g e 1.D Provide correct details for the company name section and click the ‘Next’ button to proceed Note: Proposed Corporate Name and Trade name/s, if any should comply with the SEC guidelines and procedures on the use of Corporate and Partnership Names. For further information click the ‘Click here for Corporation Name Guideline’ link to learn more about the guidelines The Summary page, screen below, will be displayed next. 1.E Click the ‘Click here to send OTP to my email’ button, enter the One-Time Passcode (OTP) sent your email and click the ‘Save and Proceed’ button. Note: The One-Time Passcode is sent to the email address you previously indicated in the ‘Applicant/authorized representative contact details’ section Regular Processing of SEC-ESPARC User Guide 6 | P a g e The screen shows the application is saved with Draft Status and the name verification process is not complete yet: You may continue to fill out the rest of the application by proceeding to Step 2 while waiting for the name verification process to complete. Do not forget to click the “Save and Proceed” button. If the name verification process is completed, the system will send an email message, notifying the applicant that the name verification process is completed. If the Name verification result is Failed. The Name verification result is displayed. If the results or one of the results is Failed, an information message “Proposed name/s cannot be used. Please see name verification result” is displayed. To request for appeal, click the “Click here to tag application for appeal name” button. You will be asked later to upload the Name Appeal document in Step 5. Regular Processing of SEC-ESPARC User Guide 7 | P a g e If name verification result is Passed. The name verification result is displayed. The system displays an information message: “Initial verification shows that the company name is available for use but is still subject to final validation by the SEC Name Verifier. The proposed company name and/or trade name/s will be presented in the downloadable forms and certificate/license exactly the same as how they were entered. Note: The fact that the proposed company name and/or trade name/s is available at the date verified, it is not to be regarded as an approval of the registration of the company or any application for change of name. No expense for the printing or posting in the internet using a verified name should be incurred until registration takes effect.” NOTE: The “Click here to Retry” button for Passed and Failed results may be clicked to go back to the previous step, in this case it is Step 1, to reflect the necessary changes, if any. To reserve the name, click the “Click here to Reserve Company Name” button. Once the “Click here to Reserve Company Name’ button is pressed, the system will display an information message “Your proposed company name is now reserved. You have until March 13, 2021 to complete and submit your application otherwise your name reservation will automatically expire.” Regular Processing of SEC-ESPARC User Guide 8 | P a g e STEP 2 – COMPANY DETAILS 2.A Enter the Purpose Note: Primary purpose refers to the main business activity of the company 2.B Provide correct and complete information for the Principal Office Address section Note: Principal office address refers to place where the company is located within the Philippines. Regular Processing of SEC-ESPARC User Guide 9 | P a g e 2.C Enter current and valid business contact information and click the “Save and Proceed” button. After clicking the “Save and Proceed” button, the system displays below screen with the following information: 1) Application Status as Draft 2) Name reservation validity information 3) Name Verification Status (Initial System Verification) 4) Step 3 - Capital Structure Form Regular Processing of SEC-ESPARC User Guide 10 | P a g e STEP 3 – CAPITAL STRUCTURE 3.A Enter the correct values on the respective fields. Click “+Add Capital Structure” button to enter information for Capital Structure details. Click the “+Add Details” button to enter details for Authorized Capital Stock. For the other fields, use the provided textboxes, checkbox, drop- down and date picker to supply the information, then click the “Save and Proceed” button. Note: Fields displayed for capital structure are dependent on the selected company type. Regular Processing of SEC-ESPARC User Guide 11 | P a g e Again, after clicking the “Save and Proceed” button, the system displays below screen with the following information: (1) Application Status as Draft, (2) Name reservation validity Information, (3) Name Verification Status (Initial System Verification) (4) Step 4 - Company Officers Form. Regular Processing of SEC-ESPARC User Guide 12 | P a g e STEP 4 – COMPANY OFFICERS 4.A Enter correct and valid information for fields under Treasurer section Note: Fields displayed are dependent on the selected company type. Enter correct and valid information for fields under Company Officers section. Note: Fields displayed are dependent on the selected company type. Regular Processing of SEC-ESPARC User Guide 13 | P a g e 4.B Click “+Add Incorporator/Director/Subscriber” button to Add New Incorporator/ Director/Subscriber and enter the required information on the form. 4.C For the subscription details, click “+Click here to add Subscription” button, enter the required information and then click the “Save” button. Regular Processing of SEC-ESPARC User Guide 14 | P a g e Note: To add a new Incorporator/Director/Subscriber, do the same process in Steps Steps 4.B and 4.C, until you completed the required number of Incorporators. 4.D Finally, click the “Save and Proceed” button. Same with the previous steps, after clicking the “Save and Proceed” button, the system displays the following information using the screen below: 1) Application Status as Draft 2) Name reservation validity information 3) Name Verification Status (Initial System Verification) 4) Step 5 – File Uploading Regular Processing of SEC-ESPARC User Guide 15 | P uploads/S4/ userguide-esparc.pdf