Increase of capitalization thru cash

Basic Requirements:

1) Certificate of Increase of Capital Stock;

2) Treasurer’s Affidavit certifying the increase of capital stock, the amount subscribed and the amount received as payment thereto;

3) List of stockholders as of date of meeting approving the increase, indicating their nationalities and their respective subscribed and paid-up capital on the present authorized capital stock certified by the corporate secretary;

4) Amended Articles of Incorporation;

5) Directors’ certificate – A notarized document signed by majority of the directors and corporate secretary certifying the amendment of the articles of incorporation increasing the authorized capital stock, the votes of the directors and the stockholders thereto, and the date and place of the stockholders meeting;

6) Audited financial statements as of the last fiscal year stamped received by BIR and SEC

7) A report rendered by an independent CPA on the verification of the cash payment on subscription to the increase;

8) Copy of the official receipt, deposit slip, bank statement/passbook;

9) Trial balance as of the end of the month immediately preceding the submission of the requirements, which includes the additional capital infusion, certified by the company accountant;

10) Written waiver of pre-emptive rights by non-subscribing stockholders; and

11) On site verification.

Note: Disregard item 8 if payment on subscription is already reflected in the audited financial statements (item 7 of the basic requirements), and said additional capital infusion is reflected in the Cash Flow Statement