The island-nation of Singapore is aiming to become a digital-centric nation in the future. Thus, the government created a Corporate Pass (a.k.a CorpPass) for businesses. It serves as a tool for entrepreneurs to access various government-related services such as processing of corporate taxes, work permits, and trade licenses.
If you plan to establish your business in Singapore, then you need a corporate pass. Here is why:
It’s Mandatory
It was in 2018 that the Singapore government came into a decision to make the corporate pass a mandatory. If you are a business owner, then you have to register for a CorpPass. It is to ensure that all transactions with the government are online.
Convenient Transactions
Now that the transactions are online, it is easier to use multiple government applications. ces! Thus, it is now easier for business owners to obtain permits. Moreover, transactions are faster and more efficient.
Protects Your Business
What is great about Singapore’s corporate pass is that it helps protect the business. Your employees do not have to use their Singpass anymore whenever they are tasked to process some government-related documents for the company. They will have to use a separate login account. Not only does it help protect employee privacy, but adds protection to your company as well.
It’s Not Limited to Local Businesses
For foreign businesses who have partnered with local businesses in Singapore, it is also mandatory for them to register for a corporate pass. The may need whenever they need to
make B2G (Business to Government) transactions.
Admins Can be Appointed by the RO
One of the advantages of using a corporate pass is that the Registered Officer (RO) can appoint admins. With this, the admins can use the CorpPass for role management and transactions.
Even though having a corporate pass can be convenient, integrating it with your systems is difficult. You might need the help of an IT cybersecurity consultant. Fortunately, you can hire one from Adnovum Singapore! Aside from CorpPass integration, they can also guide you through the SingPass application process in Singapore.
