I dunno the minimum capital and bank accounts minimum differ from bank to bank, BPI is 10k, but I can handle that. The only problem for me is getting enough signatures and officers. So we have 5 incorporators, who wants to be President, the reason I ask is because all these details are required before I enter any data into the SEC forms, its their only requirements. We need atleast to pick a President and Secretary/Treasurer.

Eugene Alvin Villar wrote:
Hi Andre,

The incorporators themselves don't have to shell out much, but doesn't the SEC require that the non-profit have a capital of at least 5k? And to provide proof, a bank statement is needed and the minimum to open a corporate bank account is 20-25k?

Eugene


On Tue, Jul 28, 2009 at 12:26 AM, Andre Marcelo-Tanner <an...@enthropia.com <mailto:an...@enthropia.com>> wrote:

    Shell out? Nothing aside from the cost of acquiring your TIN, and
    maybe your Community Tax Certificate (~PHP5) and Notarization fee
    of wherever you get notarized (here its PHP100)


    Marloue Pidor wrote:
    Andre, I had second thoughts. How much would each incorporators
    shell out?

    murlwe

    <-----Original Message----->
    >From: Andre Marcelo-Tanner [an...@enthropia.com
    <mailto:an...@enthropia.com>]
    >Sent: 7/27/2009 10:33:56 PM
    >To: sea...@gmail.com <mailto:sea...@gmail.com>
    >Cc: talk-ph@openstreetmap.org <mailto:talk-ph@openstreetmap.org>
    >Subject: Re: [talk-ph] Draft "MoA" between the OSM-F and any
    >possiblelocalchapter
    >
    >ok thats 5 then, is Murlwe in Davao atm? ok i have to look into
    the logistics of
    >having incorporators abroad and not all in the same place.
    >
    >Eugene Alvin Villar wrote:
    >Ronny volunteered to be one of the incorporators before:
    >http://lists.openstreetmap.org/pipermail/talk-ph/2009-May/000901.html
    >
    >
    >On Mon, Jul 27, 2009 at 7:07 PM, Andre Marcelo-Tanner
    <an...@enthropia.com> <mailto:an...@enthropia.com> wrote:
    >
    >no responses yet, need 1 more, 4 cannot make a company, need 5

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