Consolidated vs consolidating balance sheet
For registration, a bank certificate of deposit is required for the P1,000,000.00. Copy of TCT/CCT and tax declaration sheet certified by Register of Deeds and Assessor's Office, respectively 3.
Latest zonal value certfied by BIR, if transfer value is based on zonal value 4.
18 provides that No corporate name may be allowed by the Securities and Exchange Commission if the proposed name is identical or deceptively or confusingly similar to that of any existing corporation or to any other name already protected by law or is patently deceptive, confusing or contrary to existing laws.
Compliance therewith compels us to personally determine if reserve names are not deceptively or confusingly similar or patently deceptive or confusing to other registered entities.
The foregoing amount however shall not apply, if there is a law, rule or regulation of other regulatory agencies requiring a higher minimum paid-up capital. 62 of the Corporation Code, stocks shall not be issued for a consideration less than the par or issued price thereof.
Consideration for the issuance of stock may be any or a combination of any two or more of the following: (1)Actual cash paid to the corporation; (2)Property, tangible or intangible, actually received by the corporation and necessary or convenient for its use and lawful purposes at a fair valuation equal to the par or issued value of the stock issued; (3)Labor performed for or services actually rendered to the corporation; (4)Previously incurred indebtedness of the corporation; (5)Amounts transferred from unrestricted retained earnings to stated capital; and (6)Outstanding shares exchanged for stocks in the event of reclassification or conversion.
Appraisal report by authorized appraiser, if transfer value is bases on appraised value (not more than 6 month old) 5. If property is mortgaged, submit mortgagee/credits certification on the outstanding loan balance and written consent to the transfer of property 7.
The amount is required to be deposited in the bank in the name of the treasurer-in-trust. Detailed schedule of the property showing the registered owner, location area, TCT/CC No., tax declaration No., and the basis of transfer value (appraised/market value/assessed value/zonal value) certified by the treasurer 2.Once the Reservation Payment Confirmation has been issued, the reservation fee must be paid at the Cashier, SEC Main Office or at any of the designated Landbank branches.The contents of the AI are the following: a)The name of the corporation b)The specific purpose or purposes for which the corporation is being incorporated c)The place where the principal office of the corporation is to be located, which must be within the Philippines d)The term of which the corporation is to exist e)The names, nationalities and residences of the incorporators f)The number of directors or trustees, which shall not be less than five (5) nor more than fifteen (15) g)The names, nationalities and residences of persons who shall act as directors or trustees until the first regular directors or trustees are duly elected and qualified h)If it be a stock corporation, the amount of its authorized capital stock in lawful money of the Philippines, the number of shares into which it is divided, and in case the share are par value shares, the par value of each, the names, nationalities and residences of the original subscribers, and the amount subscribed and paid by each on his subscription, and if some or all of the shares are without par value, such fact must be stated.However, there are practices of professions allowed now in corporate form as follow a)Practice of architecture b)Practice of interior design c)Practice of real estate services d)Practice of customs brokerage This is the total amount of shares a corporation is allowed to issue if the shares have a par value.If the shares do not have a par value, the corporation does not have an authorized capital stock but it has an authorized number of shares it may issue. Under the Corporation Code, at least 25% of the amount subscribed must be paid-up and in no case be less than Five Thousand (P5,000.00) Pesos.