Corporations with foreign equity can now register their businesses in the Philippines in a single day, following an expansion of a service by the Securities and Exchange Commission (SEC).

The SEC has updated its One Day Submission and Electronic Registration of Companies (OneSEC) facility to include foreign-owned corporations in a move designed to streamline the registration process.

SEC Chairperson Francis Lim stated that the change is a key part of the commission’s efforts to improve the ease of doing business in the country.

“By expanding the coverage of OneSEC to foreign entities, we want to send a strong signal to the international business community that the Philippines is open for business, and hopefully encourage them to set up shop here,” Lim added.

During the first half of 2025, the SEC registered 145 foreign corporations, a number it expects will increase with the faster process.

Launched in 2021, the OneSEC facility is a subsystem of the main company registration portal, eSPARC, and utilises pre-filled forms to accelerate applications.

According to the SEC, applicants can complete the process in as little as one minute and 14 seconds, from starting the application to receiving a digital certificate of incorporation.

This expansion is one of several recent measures by the SEC to improve the business environment.

In June, the Commission issued circulars that reduced rates for corporate data requests by half, implemented strict processing timelines for permits and licences, and introduced a “deemed approved” policy for delayed applications.

The SEC also provided registration fee discounts of 20% for micro, small, and medium enterprises and up to 50% for firms aiming to enter the capital market.

Featured image by nensuria via Freepik.