Entrepreneurs can now simulate company registration online as the Securities and Exchange Commission (SEC) rolls out a platform designed to make starting a business easier and more accessible.
The Company Registration Simulation is free and available under the revamped SEC Academy at academy.sec.gov.ph.
It guides users through registering a company via the Electronic Simplified Processing of Application for Registration of Company (eSPARC) and creating an eSECURE account to access all SEC digital services.
“As the SEC continues to transform the business registration process and shift services online, we want to ensure that it remains easy and accessible to all entrepreneurs, whether they are tech-savvy or not,” SEC Chairperson Francis Lim said Wednesday.
“With the launch of the Company Registration Simulation, we aim to demonstrate that registration is simple and straightforward, hopefully empowering entrepreneurs to confidently take the first step in incorporating their business,” he added.
The simulation lets users explore each step, understand system requirements, and practice completing forms before applying for real. The tool reduces incomplete applications, eases system traffic, and allows SEC personnel to focus on processing compliant filings efficiently.
The eSPARC simulation covers one-person corporations, domestic and foreign stock and non-stock corporations, including branch offices, representative offices, and regional operating headquarters.
Users select a processing method, receive test eSECURE credentials, and can practice completing applications in a risk-free environment.
Applicants can also simulate the digital authentication of documents through the Electronic Submission Authentication Portal, introduced in July 2024, which eliminates the need for hard copies with wet signatures.
The simulation even provides a tentative payment assessment to help entrepreneurs plan requirements.