The Securities and Exchange Commission has unveiled a feature that will allow businesses to complete their registration process in just one day.
"The single-day processing of applications for company registration will help us further our goal of improving the ease of doing business in the country, complementing our other recent digital initiatives that aim to provide seamless transactions to the public," SEC chairperson Emilio Aquino said. "The proposed corporate name must include a descriptor according to the corporation's industry classification, must not contain any trade name, and must not be subject to any appeal for reconsideration," the SEC said.
OneSEC is also integrated with the agency's online payment portal eSPAYSEC, or Electronic System for Payments to the SEC, to ensure a seamless registration process.