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SEC registration, need help

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1 SEC registration, need help on Fri Sep 30, 2011 6:10 pm

samrei


Arresto Menor
Good day sirs/madams,

My friends and I are planning to start a company which will focus on online marketing/web design. Actually, it will only be my friend and I, but we are planning to put aboard another programmer, so 3 kaming lahat. Do non-stock, for-profit corporations exist here in the Phils? May nabasa kasi ako that "a for profit corporation may be non-stock if it is closely owned by a few individuals who have no interest in selling shares". Hindi ko lang po alam kung applicable ito sa Pilipinas. I tried reading the Corporation Code of the Philippines but the terminologies are beyond me.

For brief description po, the company can operate at home, but could possibly get an office space in the future. Iyon pong profit na ma-generate namin will be divided among us 3 based on pre-agreed percentages.

Kung hindi po allowed yung "non-stock, for-profit", what would be the best type of company for us, with the least complexity? Thanks po.


samrei

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2 Re: SEC registration, need help on Sat Oct 01, 2011 12:20 am

attyLLL


moderator
not sure what you read, but it may have been referring to a close corporation, but if it's a corp, and for profit, it has to be through stocks.

you can have a partnership instead of a corp, but not the benefit of limited liability


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