BEGINNING today, state-run Land Bank of the Philippines will accept new
businesses' registration papers as part of the government's efforts to
speed up the opening of new ventures.
In a statement, Landbank yesterday said "all provincial branches of
Landbank will accept applications for registration with the [Securities
and Exchange Commission]."
Landbank has agreed to make its 327 branches nationwide available as
"satellite offices" of SEC, which has only six offices nationwide.
Prior to the agreement between the two agencies, entrepreneurs could
file their registration papers only at these six SEC offices,
lengthening the time before they can open their businesses.
Under the agreement, Landbank will accept the applications for
registration, pre-process them, verify the requirements and collect
filing fees. It will then send the applications to SEC for processing.
"...Through this partnership, Landbank and SEC can contribute to the
government's efforts of promoting businesses and economic activities,"
Landbank President and Chief Executive Officer Gilda E. Pico was quoted
as saying in the statement.
SEC Chairman Teresita J. Herbosa said "We are confident this project
will encourage Filipino entrepreneurs all over the country... to
formally organize their businesses so they can enjoy the benefits of
incorporation."
According to the 2010 Doing Business Report of the International Finance
Corp., the World Bank's private sector lending arm, it takes an
estimated 45 days for an entrepreneur to incorporate and register a new
firm in the Philippines.
--
---------------------------------------------
CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net
Email: carlosani@seedfinance.net
Landline Phones: +63495010127 and +63495762924
Cellphone: +639152919580
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
CONSULTING - http://www.carlosani.com
My News Clippings - http://www.myclipps.posterous.com
Family website: http://www.anifamily.net
------------------------------------------
