Corporate governance and housekeeping is vital to the success of any business enterprise. The administration, maintenance and filing of corporate records are crucial to every commercial entity.
Our legal partners possess adequate understanding of the legal and regulatory requirements necessary for the client’s business, such as the record-keeping and maintenance of your Stock & Transfer Books, and compliance with the reportorial requirements of the difference government agencies such as the Securities and Exchange Commission (SEC), the Department of Trade and Industry (DTI), the Board of Investments (BOI), the Philippine Economic Zone Authority (PEZA) and the like. It is our intention to relieve you with the burden of worrying about corporate compliance, avoid the imposition of fines and penalties and the possible revocation of your business license, so you can be free to focus on the operations of your business.
What do you need to prepare?
Partnerships are required to be registered with the Securities and Exchange Commission (SEC). Registration is done by filing the Articles of Partnership with the SEC. The Articles of Partnership set forth all the terms and conditions mutually agreed by the partners thereto.
- Proposed Articles of Partnership
- Name Verification Slip
- Bank Certificate of Deposit
- Alien Certificate of Registration, Special Investors Resident visa or Proof of other types of visa (in case of foreigner)
- Proof of inward remittance (in case of non-resident aliens)
- It bears noting that corporations are not allowed by law to become partners in a partnership.
As a general rule, the liability of partners in a partnership organization is unlimited in the sense that the partnership creditors may run after them for any and all of their assets and property in payment of the partnership debts. Should one of the partners defray all liabilities of the partnership, he is entitled to be reimbursed by the other partners for their respective shares therein.
In the case, however, of limited partnerships, the law allows the limitation of the liability of certain partners to the extent of the amount contributed to the partnership.
Philippine law allows the dissolution of partnership for any reason, provided such dissolution does not amount to a breach of contract or is prejudicial to third parties. The death of a partner or the unauthorized transfer of ownership of his share in the partnership (in case there is a limitation to this effect) results in the dissolution thereof.
In other words, any change in the composition of the partnership, unless so allowed, will result in the dissolution thereof. Consequently, the remaining partners may form a new partnership with less or more partners.
Owning a business in the Philippines is easy now. We promise to make complicated matter easy for you.
Registered Office Services
Use our office addresses with mail forwarding service in Bonifacio Global City, Taguig as the registered office address of your company.
Temporary / Instant Office
We can offer you or your team Instant Office space and Meeting Facilities when you need them.
Apostille & Legalisation Services
We can certify and legalise your documents at Embassies and the Foreign Office.
Basic Government Compliance & Filing Services
Let us take care of all your Government Compliance matter and you can focus on your business.