What sworn statement regarding payment must accompany a certificate of increase of capital stock?
For the SEC to accept for filing any certificate of increase of capital stock, it must be accompanied by a sworn statement of the treasurer of the corporation (SEC. 37, Revised Corporation Code of the Philippines). This statement must explicitly show that at least twenty-five percent (25%) of the increase in capital stock has been subscribed. Furthermore, the statement must confirm that at least twenty-five percent (25%) of the amount subscribed has been paid in actual cash to the corporation, or that property equal to 25% of the subscription value has been legally transferred to the corporation. This mandatory verification ensures that capital increases are not merely nominal but are backed by actual asset contributions.
02 November 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/.
