Every business registered with the Philippines SEC is required to submit a General Information Sheet (GIS) every year to the Securities and Exchange Commission.
The amended GIS requirements can be found in SEC Memorandum Circular 10 Series of 2013.
The changes are:
1. Number of copies to be submitted reduced to 4 from 5
2. Tax Identification Number (TIN) for all foreign nationals who are directors/trustees, officers, stockholders/members and resident agents of both domestic and foreign corporations
3. Inclusion of Gender in the page for directors, trustees and officers
4. Inclusion of page I-A pursuant to Anti-Money Laundering Act, as amended
There are four different GIS forms that may be submitted according to the kind of legal entity:
A. Domestic Corporation to be submitted within thirty (30) calendar days from the date of the annual stockholders’ meeting.
B. Non-Stock Corporation to be submitted within thirty (30) calendar days from the date of the annual members’ meeting as stated in the by-laws.
C. Foreign Corporation (Branch Office, Representative Office) to be submitted within thirty (30) calendar days from the anniversary date of the issuance of the sec license
D. Regional Operating Headquarters (ROHQ), Regional Headquarters (RHQ) to be submitted: i.) within thirty (30) days after the issuance of the sec certificate of registration and license and ii.) within thirty (30) days from the anniversary date of the issuance of the sec certificate of registration.
The GIS should also be submitted to the SEC any time there have been changes in shareholders, board of directors/officers, resident agent and contact address of a company, whether it is a corporation 100% Foreign owned, 60% Filipino owned – 40 % Foreign owned, Branch Office, Representative office.
How to open a business in the Philippines.
About David Elefant
Philippines business consultant specializing in assisting companies setup their operations in the Philippines.
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