On February 20, 2019, the government passed the Revised Corporation Code (RCC) of the Philippines (Republic Act 11232). The revisions aim to make it easier to register and maintain a business in the country. Chief among its reforms is the creation of the One Person Corporation (OPC) and the establishment of corporate perpetuity.
One Person Corporation Philippines
The Securities and Exchange Commission (SEC) is now accepting applications for the registration of a One Person Corporation (OPC), a corporation with a single stockholder, following the issuance of the pertinent guidelines.