The Revised Corporation Code of the Philippines: One-Person Corporations

R.A. 11232 (Revised Corporation Code of 2019)

The Revised Corporation Code modernized Philippine corporate law. Notable changes:

• One Person Corporation (OPC) — a corporation with a single stockholder (Sec. 116–128). Only natural persons, trusts, and estates may form an OPC; banks and certain regulated entities cannot.
• Perpetual existence — corporations may now exist for a term of 50 years or perpetuity.
• No minimum capital unless required by special law.
• Electronic filing with the SEC is expressly recognized.
• Corporate rehabilitation and emergency powers for the board.

This article is general information and not legal advice.