MANILA, Philippines — In a major win for the “Ease of Doing Business” movement, the Securities and Exchange Commission (SEC) has officially rolled out a faster, digital-first process for amending corporate records.
Under the newly issued Memorandum Circular No. 3, series of 2026, companies can now breeze through amendments to their articles of incorporation and bylaws using the eAmend portal. The goal is simple: eliminate regulatory bottlenecks and let business owners focus on growth rather than paperwork.
The Seven-Day Fast Track The SEC has divided applications into two categories:
- Simple Processing: Changes such as corporate name, principal office address, fiscal year, and number of directors are now fast-tracked for completion within just seven working days.
- Regular Processing: More complex transactions—like adopting entirely new bylaws, converting corporate types, or amending five or more provisions—are treated as highly technical and can take up to 21 working days.
By moving these services to the eAmend portal, approved applications under the “simple” category will receive digital certificates, completing the entire transaction online without the need for physical office visits.
Penalties for Laggards While the process is becoming easier, the SEC is also tightening its grip on compliance. Companies are required to submit their documentary requirements promptly.
- Late Submission: Filing between 15 and 45 days after the online application will result in a P5,000 fine.
- Nonsubmission: Failing to submit within 45 days will lead to the cancellation of the application and the forfeiture of all fees paid.
Focus on Growth SEC Chairperson Francis Lim emphasized that these reforms are part of a broader commitment to digitalization. “The SEC is committed to making every transaction seamless and efficient,” Lim stated, adding that the new guidelines ensure consistency and faster evaluations through system-generated forms.
This move follows a series of reforms aimed at making the Philippines a more attractive hub for both local and foreign investors by stripping away the bureaucratic hurdles that have historically slowed down corporate development.