The Old Corporation Code (Batas Pambansa Bilang 68) required that a corporation must have at least five (5) incorporators. Consequently, a single stockholder who cannot form a group of five incorporators had no choice but to register their business as sole proprietorship.
However, with the passage of the Revised Corporation Code (Republic Act No. 11232) which was approved last 20 February 2019, a single incorporator can now set up a corporation. It is called One Person Corporation (OPC). This therefore gives entrepreneurs a new option for their business structure apart from sole proprietorships.
Accordingly, this seminar will provide knowledge regarding One Person Corporation and the requirements for setting it up. Basic questions regarding One Person Corporation will also be answered.
I. What is a One Person Corporation (OPC)?
- Definition
- Who May Form One Person Corporation?
- Who Are Not Allowed To Form One Person Corporation?
- Comparison between OPC and Sole Proprietorship
- Comparison between Old Corporation Code and OPC
II. Term of Existence
III. What is the Minimum Capital Stock for OPC?
IV. What must be contained in the Articles of Incorporation (AOI) for an OPC?
• Sample Form
V. Bylaws
VI. What must be indicated in the Corporate Name?
VII. Role of the Single Stockholder
VIII. Officers
A. Can the single stockholder be self-appointed treasurer of the corporation?
B. Functions of the Corporate Secretary
IX. Nominee and Alternate Nominee Stockholder
- Designation of Nominee
- Term of Nominee and Alternate Nominee
- Change of Nominee or Alternate Nominee
- Sample Forms
X. Is Corporate meeting necessary?
XI. Minutes Book
XII. Reportorial Requirement
• Effect of Failure to Submit the Reportorial Requirement
XIII. Liability of Single Shareholder
XIV. Requirements for Setting Up A One Person Corporation
XV. Steps for the Application for registration
XVI. Conversion from Ordinary Corporation to a One Person Corporation
XVII. Conversion from a One Person Corporation to Ordinary Corporation
XVIII. Dissolution
XIX. Open Forum
- Morning Snacks
- Hand-outs
- FREE LEGAL CONSULTATION with the Speaker at the end of the seminar
CONTACT DETAILS
Ms. Ely Denaga
Contact No. (02) 7745-4391
Mobile: 09778050020 | 09175771536
Email: seminars@alburolaw.com | trainings@alburolaw.com
Meet Our Speaker!
Atty. Rizzle May R. Ostia-Alburo is a Partner in Alburo Alburo and Associates Law Offices, and is currently serving as Corporate Secretary of various client companies, in addition to her engagement in civil and labor litigation.