The Green Lane Unit
Green Lane Documents are used to register your business with the Securities and Exchange Commission (SEC) in one day. The packet consists of Articles of Incorporation, By-Laws and Treasurer’s Affidavit. The Green Lane Unit of the Company Registration and Monitoring Division (CRMD) of the SEC provides this express lane or the Green Lane to expedite the processing of applications of corporations and partnerships with basic provisions with their Certificate of Incorporation and Articles of Partnership. This unit opened on August 15, 2011.
Overview of the Securities and Exchange Commission Green Lane
The Green Lane Unit can accept and process applications for new corporations and partnerships.
• Applications with complete requirements filed with this Unit will be approved within one (1) day.
• Applications filed before 11:00AM will be approved and release on or before 5pm of the same day, while
• Application filed after 11:00 AM, will be approved and release not later than 12 noon of the following business day.
Steps in Green Lane Registration
1. Verify and reserve your proposed corporate name with the Name Verification Unit (2nd Floor of the Securities and Exchange Commission Building) or you can reserve name online at the SEC website.
2. Buy a Green Lane Form for PhP 800 from the SEC Provident Fund Office 3rd Floor, SEC Building.
3. Present the accomplished SEC Green Lane forms/documents to the Green Lane Unit of the Company Registration and Monitoring Department (CRMD) at the 2nd Floor of SEC Building for pre-processing. This has to be type-written.
4. Proceed to the Cashier (Ground Floor) for the payment of filing fees.
5. File the application with the Green Lane Unit for recording, typing of the Certificate of Incorporation/Partnership and final review.
6. The unit will forward your application with the CRMD Director for approval.
7. The approved documents are encoded and forwarded to the Releasing Unit, Records Division at the Ground Floor. Documents with questions will immediately be sent back to you for correction. You can then file your application again for approval. Corrections may be done on the spot if there something needs to be deleted or added to your application. In the previous article I wrote about 10 tips you should know in registering a corporation with the SEC.
8. Claim the Certificate of Incorporation/Partnership at the Releasing Unit upon presentation of Official Receipt of payment of filing fees.
After the releasing of the Certificate of Incorporation or Articles of Partnership you may now proceed to process permits in Local Government Unit (Barangay and Municipal/City Hall).