Guidelines on Setting Up a One Person Corporation

Guidelines on Setting Up a One Person Corporation

The concept of a One Person Corporation (OPC) was introduced to the Philippines through the recent enactment of the Revised Corporation Code. The introduction of the OPC eases up the requirements for setting up a corporation for many businesses and start-ups in the Philippines. A single stockholder can now set up a corporation, dispensing of the need to appoint nominee directors just to satisfy the previous five-director requirement. Continuing from our Primer on the Revised Corporation Code, we discuss the guidelines on how to set up a One Person Corporation.

Primer on the Revised Corporation Code

Primer on the Revised Corporation Code

The recent enactment of Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines, introduced substantial changes to the laws governing corporations operating in the Philippines. Flores and Ofrin brings you the salient points of the Revised Corporation Code in a short and easy-to-read primer.