2 Feb 21

The Philippine Civil Code defines partnership as:

Art. 1767. By the contract of partnership two or more persons bind themselves to contribute money, property, or industry to a common fund, with the intention of dividing the profits among themselves.

In the same manner, two or more persons may also form a partnership for the exercise of a profession.

Here are the requirements and step-by-step process when registering your business partnership at the Securities and Exchange Commission (SEC):

  1. Basic Requirements:
  • Cover Sheet
  • Reservation Payment Confirmation
  • Articles of Partnership (AP)
  • Joint Undertaking to Change Name
  1. Documentary Requirements:
  • Name Verification Slip
  • Articles of Partnership (AP); and
  • Joint Affidavit of Two Partners to change partnership name (not required if already stated in AP).
  1. Additional Requirements:
  • Endorsement/clearance from other government agencies, if applicable.
  • For partnership with foreign national as partner
    • FIA Form – 105
  1. How to avail the service:

Step 1: Verify or reserve your proposed name – Php 100.00/reservation for 30 days.

Step 2: Present Articles of Incorporation and By-laws. – The filing fee is 1/5 of the 1% of the Partnership’s capital but not less than Php 2,000.00 plus 1% of the amount as a legal research fee.

Step 3: Pay filing fee at the Cashier and file the application at the Receiving Unit.

Step 4: Present the official receipt at the Releasing Unit and then get the Certificate of Recording of the Articles of Partnership.

Source: www.sec.gov.ph