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  • Writer's pictureCastillo&Bello

SEC Memorandum Circular No. 20-2020

The SEC wants foreign corporations to identify their beneficial owners on their general information sheets. This will cover all SEC registered foreign corporations, both stock and non-stock.


According to SEC, A "Beneficial Owner” refers to any natural person who ultimately owns or controls the corporation or has ultimate effective control over the corporation.


Foreign corporations now need to submit information on beneficial owners such as identification documents, specifically their complete name, specific residential address, nationality, birthdate, tax identification number, percentage of ownership, and type of ownership.

See the whole Memorandum Circular here: https://www.sec.gov.ph

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