We already discussed the basic differences between various forms of business organizations - particularly corporations, partnerships and sole proprietorships. In addition to the article on how to register business names, there's also a post on how to register a CORPORATION with the Securities and Exchange Commission (SEC). This time around, let's discuss how to register a PARTNERSHIP with the SEC.

 

The manner of registering a partnership is similar to that of a corporation:

 

{mosgoogle}1. Verify and reserve the proposed partnership name. You could do this the hard way, at the SEC Verification Unit, located at the SEC Building, EDSA, Greenhills, Mandaluyong City (right across the Philippine Overseas Employment Administration [POEA] and the EDSA Shrine). If you want to make your life a bit easier, you could do the verification and registration online, through the SEC-iRegister, a 24-7 portal. After paying the reservation fee, you will get a Name Verification Slip, which is submitted together with the other requirements.

 

2. Prepare the Articles of Partnership. This is equivalent to the Articles of Incorporation, whicih is one of the required documents for corporations. 

 

3. Prepare the: (i) Written Undertaking to Change Partnership Name by any Partner; and (ii) Registration Data Sheet. There are additional requirements for certain partnerships, like customs brokerages, which are required to submit the customs broker licenses and professional tax receipts (PTR) of at least two partners.

 

4. File the complete documents with the SEC, upon payment of the requisite filing fees.