Regulatory Alerts2020-04-29
MC No. 16 s.2020 — Guidelines on Authentication of Articles of Incorporation in Applications for Registration of New Domestic Corporations
The Securities and Exchange Commission of the Philippines issued Memorandum Circular No. 16, series of 2020, to streamline the registration of new domestic corporations by simplifying authentication requirements. The guidelines permit Articles of Incorporation to be authenticated via a signed Certificate of Authentication by all incorporators, thereby eliminating the mandatory need for notarization or consularization for domestic filings. The circular also establishes specific authentication procedures for documents executed abroad, mandates the use of SEC Form F-100 for foreign investments, and imposes strict fines and penalties for fraud, misrepresentation, or willful certification of false information.
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