SEC Cebu records 1,871 incorporations for first semester of 2023, 114% increase from the same period last year


CEBU: From January to June 2023, the 
Securities and Exchange Commission-Cebu Extension Office (SEC-CEBEO) incorporated 1,871 entities. This year’s first semester saw a significant 114 percent increase in incorporations compared to the same period in 2022 with only 920 entities incorporated.

Atty. Sheara Lupango-Tamayo, SEC-CEBEO’s Director, gladly noted the significance as it is already 98 percent of the 1,908 total number of entities incorporated last year.

Of the 1,871 corporations, there are 277 one-person-corporations, 715 stock corporations with less than five incorporators, 422 regular stock corporations, 41 corporations sole, 63 non-stock corporations with less than five incorporators, 277 regular non-stock corporations, 2 foreign corporations, and 74 partnerships.

The SEC’s digital transformation, particularly the launch of the Electronic Simplified Processing of Application for Registration of Company (eSPARC), has contributed to this year’s highest growth in company registrations for the CEBEO since the pandemic.

The eSPARC platform allows the public to register stock and non-stock corporations as well as partnerships online, from the convenience of their home. This digital initiative makes the SEC’s registration service more accessible to the public. The CEBEO’s jurisdiction includes the provinces of Cebu, Bohol, and Siquijor.

“It is for the comfort of such clients from farther areas that the SEC strives for accessibility in their services. The Commission’s dedication to overseeing the corporate sector remains steadfast,” Lupango-Tamayo said.

The SEC-CEBEO recently transferred its location to 12th Floor, AppleOne - Equicom Tower, Mindanao Avenue corner Biliran Road, Cebu Business Park, Cebu City to give better and improved services to its clients.

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