27/08/2026
One thing I appreciate about being in real estate is that there is always something new to learn and be reminded of.
I recently attended a webinar that covered what corporation is, corporate registration, compliance, and SEC reportorial requirements. While these may seem more relevant to accountants, lawyers, or corporate officers, I believe real estate professionals should also have a basic understanding of these matters.
We need to stay updated and relevant.
Why? Because we deal with property owners, corporations, investors, developers, and other stakeholders. Understanding basic corporate compliance can help us ask better questions, identify potential issues, and provide more informed service.
Two important annual reports to remember are:
1. GIS — General Information Sheet
Think of the GIS as an annual snapshot of a corporation's current information. It may include the corporation's name and SEC registration details, principal office, annual meeting, directors/trustees, officers, stockholders/members, and other required information.
For domestic stock and nonstock corporations, the current GIS deadline is generally within 30 calendar days from the actual annual meeting.
2. Financial Statements
Depending on the corporation and applicable requirements, these may include Audited Financial Statements (AFS).
A significant 2026 update is the increase in the mandatory audit threshold. Under SEC Memorandum Circular No. 4, Series of 2026, domestic stock and nonstock corporations with total assets OR total liabilities of more than ₱3 million are generally required to submit annual audited financial statements, subject to applicable SEC rules.
⚠️Important Reminder : Do not assume that all corporations have the same requirements or deadlines. Always check the corporation's type, fiscal year-end, SEC classification, secondary license, if applicable, and the latest SEC issuances.
Accurate information is a must. This is probably one of my biggest takeaways.
In real estate, we handle information every day property details, ownership, corporate documents, authorizations, contracts, prices, and transaction requirements.
A small error in information can create unnecessary delays or, worse, affect a transaction.
Verify first. Share information responsibly. And when a matter is outside our expertise, refer it to the appropriate professional.
We don't have to know everything. But we should always strive to know what matters, verify what we share, and continuously learn. 🤓
In real estate, professionalism is not only about closing a transaction. It is also about providing accurate information and adding value to the people we serve. 🫡
Disclaimer: For specific compliance matters, always verify the latest SEC rules and consult the appropriate legal or accounting professional.
Your Real Estate Partner,
Zyra Soriano
Real Estate Broker & Appraiser
PRC REB License #0035866
PRC REA License #0012771
Member | NREA METRO RIZAL Chapter Inc.
