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The One Person Corporation provides an individual the same limited liability a traditional corporation would minus the minimum required number of Incorporators. Finally, locals and foreigners may take register their business as an individual with limited liability.
OPC has the same limited liabilities as the traditional corporation. Foreigners are allowed if they can comply with the requirements. The OPC requires 2 nominees and must declare a Treasurer, if not they must secure a surety bond.
The SEC will require a prospective Corporation to reserve and register a name, submit proposed Articles of Incorporation and By-Laws which are compliant with the requirements of the Corporation Code of the Philippines, and meet the minimum capitalization requirements pertaining to the industry or business that it is engaged in.
Except for foreigners
For general business models that do not fall under special laws
Fast Track Option Available
Register your business in just 4 steps