About JCA Bookkeeping Services

 Authorized capital refers to the maximum amount of capital a company is permitted to raise through stock sales. If a company needs to increase its equity later, it must apply to the Securities and Exchange Commission (SEC) for a higher authorized capital limit. To proceed with this application, at least 25% of the increased capital stock must be subscribed, and at least 25% of the subscribed amount must be paid. 

 Subscribed capital is the total number of shares that have been issued to shareholders. 

 Paid-up capital represents the actual funds a company has received from its investors or shareholders in exchange for shares. This capital can be in various forms, including cash, real estate, services, equipment, or other valuable assets. 

The following are the minimum paid-up capital requirements for various industries:

• Break Bulk Agent: ₱250,000
• Cargo Consolidator: ₱400,000
• Financing Company (Main):
  • 1st Class Cities: ₱10,000,000
  • Other Cities: ₱5,000,000
  • Municipalities: ₱2,500,000
• Financing Company (Branch):
  • 1st Class Cities: ₱1,000,000
  • Other Cities: ₱500,000
  • Municipalities: ₱250,000
• Freight Forwarders:
  • Domestic: ₱250,000
  • International: ₱2,000,000
• Health Maintenance Organization: ₱10,000,000
• Insurance:
  • Insurance Broker: ₱20,000,000
  • Reinsurance Broker: ₱20,000,000
  • Insurance & Reinsurance Broker: ₱50,000,000
  • Life Insurance Company: ₱1,000,000,000
  • Non-Life Insurance Company: ₱1,000,000,000
  • Reinsurance Company: ₱2,000,000,000
• Investment Adviser/Manager: ₱10,000,000
• Investment Company: ₱50,000,000
• Investment House: ₱300,000,000
• Lending Company (Main): ₱1,000,000
• Lending Company (Branch):
  • 1st Class Cities: ₱300,000
  • Other Cities: ₱150,000
  • Municipalities: ₱75,000
• Mining:
  • Authorized Capital Stock: ₱100,000,000
  • Paid-Up Capital Stock: ₱6,250,000
• Non-Vessel Operating Common Carrier: ₱4,000,000
• Pawnshop: ₱100,000
• Pre-Need Plan Issuer: ₱100,000,000
• Pre-Need Plan Agent: ₱5,000,000
• Recruitment for Local Employment:
  • Corporation: ₱1,000,000
  • Partnership: ₱1,000,000
• Recruitment for Overseas Employment: ₱5,000,000
• Retail Trade with Foreign Equity: ₱25,000,000 (as amended by Republic Act 11595)
• Schools (for Stock Corporations):
  • Elementary Education: ₱1,000,000
  • Elementary & Secondary Education: ₱2,500,000
  • Elementary, Secondary, Tertiary: ₱5,000,000
• Security Agency: ₱500,000
• Securities Broker/Dealer (New/SRO Member): ₱100,000,000
• Securities Broker/Dealer (Existing/SRO Member): ₱10,000,000
• Securities Broker/Dealer in Proprietary Shares (Non-SRO Member): ₱5,000,000
• Special Purpose Vehicle: ₱31,250,000
• Special Purpose Corporation: ₱5,000,000
• Transfer Agent: ₱1,000,000

 The following guidelines apply for determining the minimum paid-up capital requirements:

• Domestic Corporations with over 40% Foreign Equity:
  • Domestic Market Enterprise: US$200,000
  • Export Market Enterprise: No minimum capital requirement
• Foreign Branch Office:
  • Domestic Market Enterprise: US$200,000
  • Export Market Enterprise: No minimum capital requirement
• Partnerships with Foreign Partners:
  • Domestic Market Enterprise: US$200,000
  • Export Market Enterprise: No minimum capital requirement
• Foreign Representative Office: US$30,000
• Regional Area Headquarters (RHQ): US$50,000
• Regional Operating Headquarters (ROHQ): US$200,000

Please note that specific industries may be subject to additional regulations that impose different minimum paid-up capital requirements. Always ensure compliance with the latest regulations to facilitate smooth business operations in the Philippines.