SEC logs increase in CL firm registration in 2023

CITY OF SAN FERNANDO --- The Securities and Exchange Commission (SEC) in Tarlac has recorded an 11 percent increase in company registrations in Central Luzon and nearby regions last year.

SEC Tarlac Extension Office said that a total of 2,719 incorporated entities registered in 2023, higher than the 2,249 firms in 2022.

The commission noted that newly registered companies include a total of 1,449 stock corporations, 865 non-stock corporations, 135 partnerships, and 270 one-person corporations.

About 80 percent of these are from Central Luzon while 20 percent were from Metro Manila, Cagayan Valley, and Ilocos Region.

SEC attributed the increase in registration to the commission's digital reforms and expanded online services, highlighted by the easier, faster and more convenient mode of payments through the Electronic System for Payments to the SEC (eSPAYSEC) with over 90,000 online and offline payment options nationwide.

“As the country’s corporate registrar, the SEC sought to institutionalize digital transformation to achieve efficiency and accessibility in the corporate sector. The success of this digital initiative through the launching of Electronic Simplified Processing of Application for Registration of Corporationand its subsystem, the One Day Submission and Electronic Registration of Companies in 2021, contributed to the higher number of registrations received by the commission for the last two years,” the commission said.

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