I would like to inquire about the process on registering a corporation in SEC.
My friends and I wants to form a non stock corporation, i read that minimum capital is 5,000 but some forums in the net said that SEC decides how much would be the minimum capital and i am worried that when i file my article of inc., they will reject it and SEC will tell me i should have minimum of 100k before they registered us.
U know i gathered only 10k from my partners.. That will be our capital. I reserved business name in SEC under this category ---> non stock, miscellaneous business activity. Am i right on selecting non stock? We are group of striving and aspiring models,actresses/actors planning to create a photography-modeling events, talent agency, indi film maker, talent workshops..We dont have big capital for this, our assets consist of 1 dsl canon camera and 3 units of pc. Our office is home base. I want to clear if we can register this kind of industry with our 10k as capital.
And i also read something about Republic Act No. 9178, BMBE's, barangay micro business which excempt business with less thsn 3million capital in taxes. Im interested to apply our agency in here.. Can we apply my business both in sec and in bmbe? Am i correct on the categories i have chosen in reserving business name in sec? Thank you so much in advance..