Holy Week was a period of prayer for some, and of rest for others. I did a little of both and added some work in the equation too. It wasn't heavy work, though. Communicated with the two bidding contractors, arranged for meetings for the coming week and typed the article of incorporation, including the bylaws, the treasurer's affidavit and the secretary's certification.
Yes, typing. As in manual typewriter typing. Well, it wasn't the whole document. (That would have qualified as my penitence if it did!) SEC made it easy for people like me by issuing a pro forma document. we just need to manually type the parts which are applicable to us. Like name of the corporation, the nature of the business, names and details of the incorporators, etc.
I finished the deed in one afternoon, sacrificing the nails of only two fingers. Yay, for me!
After this, the next steps are to have the incorporators sign, open an account for the company, get the bank's certification, submit all documents to SEC before May 5, the last day of the 1 month reservation period I paid for.
Preparing the documents is both easy and hard. The typing part is easy. But deciding on the contents is not. Generally, the names of the incorporators do not need to be decided in the sense that they would have been decided ahead, as they would be the people who have invested in the business. To choose who would be the people you will be in business with is a decision excruciatingly made, almost as, if not more, difficult than choosing who will be your mate.
Next, there is the decision on where the headquarters would be. You can't just put any address. You have to be able to back that up with the necessary papers (lease contract, for example). There are also certain areas which do not allow commercial activities.
When you fill up the Articles, you have to have the TIN and the Community Tax number of each incorporator. These information form part of the document.
Then, decisions muse be made on who will be the officers of the board. Who will be President, Vice-President, Secretary and Treasurer? The right people must be chose as they will be the people steering the boat that is the business. Their signatures will be required in crucial documents. So it's very important to choose the right people for the job. They must be able to work as a team, have the welfare of the company at heart.
(photo from www.gadgetchick.com)
