Under the Revised Corporation Code, a single stockholder may now form a corporation. Said corporation is called a One Person Corporation (“OPC”). The single stockholder in an OPC should be a natural person, trustee or estate. Banks and quasi-banks, preneed, trust, insurance, public and publicly listed companies, and non chartered government owned and controlled corporations may not incorporate as an OPC. A natural person who is licensed to exercise a profession may not organi

President Duterte signed into law Republic Act No. 11232 or the Revised Corporation Code which promises to improve the ease of doing business in the Philippines. Among the notable changes are the following: A single person may now organize a corporation. A corporation with only one stockholder is called a One Person Corporation. A corporation now has perpetual existence unless provided otherwise in its articles of incorporation. A corporation whose term has expired may now ap