DTI certificate of RegistrationSingle Proprietorship
SEC certificate of Registration of Articles of Incorporation and By-lawsPartnership and Corporation
2. Certificate of Registration with the following government agencies
Bureau of Internal Revenue (BIR)
Tax Identification Number (TIN)
Value Added Tax (VAT)
Office of the Mayor/Municipal Permit
Social Security System
3. Books of accounts to be used in the transaction of business, duly registered with the BIR
General Journal
General Ledger
Cash Receipt
Cash Disbursement
4. Reference of incorporators, consisting of two (2) natural persons and one (1) depository bank
5. Curriculum Vitae of the incorporators, officers, underwriters, accountant, (actuary and medical directorfor life companies only)
6. List of officers and positions held
7. Name and address of the external auditors
8. Name and address of depository bank
9. Name and address of legal counsel
10. Name and address of companys printer
11. Name and address of companys actuary
12. Organizational chart of the proposed corporation
13. Floor plan of the office
14. Lease agreement of the office space, if any
15. List of Furniture and equipment
16. Reinsurance treaty or proof that such facilities are available
17. ITR of each incorporator for the past five (5) years preceding the date of filing of incorporation papers of proposed corporation
18. Clearances of incorporation from:
a. NBI
b. BIR
19. If any of the incorporators is an alien, he must produce his ACR for the current year and a certification from the Bureau of Immigration that he/she is allowed to be gainfully employed during his/her stay in the Philippines
20. Project study showing expected volume of business to be written and the amount of premiums that will be realized on the various life plans for the next three (3) initial years from operation
21. Execute waiver in favor of the Insurance Commission to verify the existence of applicants capital deposits with its depository bank/s
22. Pre-operational balance sheet
23. Minutes of the Organizational Meeting of the stockholders
24. Minutes of the Organizational Meeting of the Board of Directors
25. Documentary StampPHP15.00
26. Filing FeePHP1,200.00
27. CapitalizationAs per Department Order No. 27-92
i. At least PHP75,000,000.00paid-up capital; and
ii. At least PHP25,000,000.00contributed surplus
28. Compliance with Circular Letter No. 13-2004 (Fit and Proper Requirements) dated 7 June 2004
29. Pre-licensing Examination
NOTE: (As per Department Order No. 100-94 and 100-94-A)
The Insurance Commissioner may refuse to issue a certificate of authority to any company if, in his judgment, such refusal will best promote the interest of the people of the Philippines.