What documents must be published when a foreign corporation files a petition for withdrawal of its license to transact business?
Before the SEC issues a certificate of withdrawal for a foreign corporation’s license, all claims and taxes lawfully due in the Philippines must be paid or settled (SEC. 153, Revised Corporation Code of the Philippines). Additionally, the petition for withdrawal of license must be published once a week for three (3) consecutive weeks in a newspaper of general circulation in the Philippines. This public notice ensures that any potential creditors or interested parties in the Philippines are duly informed of the corporation’s intent to cease operations. Only after meeting all these requirements can the SEC issue the certificate of withdrawal.
31 October 2025
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Nicolas and De Vega Law Offices is a full-service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 84706126, +632 84706130, +632 84016392 or e-mail us at [email protected]. Visit our website https://ndvlaw.com/.
