PARTNERSHIP

 

Under the Civil Code of the Philippines, a partnership is treated as juridical person, having a separate legal personality from that of its members. Partnerships may either be general partnerships, where the partners have unlimited liability for the debts and obligation of the partnership, or limited partnerships, where one or more general partners have unlimited liability and the limited partners have liability only up to the amount of their capital contributions. It consists of two (2) or more partners. A partnership with more than three thousand pesos (Php 3,000.00) capital must register with Securities and Exchange Commission (SEC).

General Partnerships

Documentary Requirements:

  1. Name verification slip
  2. Articles of Partnership
  3. Written joint undertaking to change corporate name signed by two (2) incorporators/Directors
  4. Clearance/endorsement from other government agencies, if applicable

Application Procedure:

For Online Registration

  1. Verify/reserve proposed name via internet using SEC i-register
  2. If reservation is complete, register the company via the internet using the SEC i-register.
    Note 1: File directly to SEC if clearance from other government agencies is required.
  3. If online registration is completed, system prompts the applicant to pay the filing fees (online or through the SEC cashier)
  4. Download/Print the Articles of Partnership
  5. Pay the required fee
  6. Presents the signed and notarized documents to CRMD
  7. Claims Certificate of Recording from Releasing Unit of HRAD

Filed Directly With SEC

  1. Verify/reserve proposed name
  2. Buy articles of partnership forms from Express Lane
  3. Get endorsement from other government agencies if needed
  4. Presents accomplished forms/docs for pre-processing at CRMD
  5. Pay filing fees to cashier
  6. Claims Cert. Of Incorporation from the Releasing Unit, Records Division

Processing Time: Within 24 hours from filing

Limited Partnerships

Documentary Requirements:

  1. Name verification slip
  2. Articles of Partnership
  3. Written joint undertaking to change corporate name signed by two (2) incorporators/Directors
  4. Clearance/endorsement from other government agencies if needed
  5. If it is a limited partnership, the word “limited” or “Ltd” should be added to the name. Articles of partnership of limited partnership should be under oath only (Jurat) and not acknowledged before a notary public

Application Procedure: Same as General Partnership

Processing Time: Within 24 hours from filing

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