In a move to make e-government transactions easy and to ensure additional security to Singapore registered companies, the Infocomm Development Authority (IDA) of Singapore recently launched a Singapore Corporate Pass (CorpPass) which enables businesses and entities to use a single corporate ID for all e-government transactions.
This initiative was introduced after the government received feedback from businesses suggesting that SingPass should be used only for personal transactions and a separate login must be maintained for corporate transactions.
Overview
The Singapore Corporate Pass (CorpPass) is a corporate digital identity for all businesses and entities that have a Unique Entity Number (UEN). Individuals and entities (such as trust funds, joint ventures) that do not have a UEN will have to continue government transactions using SingPass. The CorpPass is designed for local and foreign entities with a UEN.
CorpPass – The New SingPass for Businesses?
With the launch of CorpPass corporates & businesses in Singapore will have to use a single digital identity to access their business transactions. The CorpPass will make it easy for businesses since the multiple logins through SingPass and EASY2 will no longer be necessary. The CorpPass will be sufficient for all the transactions and will increase convenience for the businesses.
Assistant Chief Executive of the Infocomm Development Authority (IDA) stated that the CorpPass will be mandatory for businesses when executing any digital government transactions and it is best for them to register for the pass at the earliest to avoid any hassles and handle everything with ease.
Enhancing Security
In the current scenario, businesses have to access the SingPass accounts of their employees for transactions including filing tax returns, work permit applications, etc.
The IDA stated that with the introduction of CorpPass there will be two different login IDs for citizens and businesses which will ensure security and privacy. Employees will no longer have to share their personal SingPass IDs and passwords. This will help protect information of the employees and the business in general. Additionally, businesses can access their employee details and manage their business-related information through CorpPass.
Eligibility For CorpPass
The eligibility of an entity for CorpPass mainly depends on whether or not it has a Unique Entity Number (UEN), which is an identification number issued to an entity to transact with the government. The government has stated that:
- An entity locally registered in Singapore that has a UEN either allotted by the Accounting and Corporate Regulatory Authority (ACRA) or a UEN-issuance agency are eligible for CorpPass.
- Local entities in Singapore that do not have a UEN will not be eligible.
Starting from 2017, foreign entities without a UEN can also register for CorpPass.
Getting Started
To start using CorpPass, a business requires a Registered Officer and a CorpPass Administrator.
The Ministry of Finance stated that the Registered Officer will be any person within the business such as the owner, director, partner, Company secretary, etc who is a “key officer” of the business and is registered either with the Accounting and Corporate Regulatory Authority (ACRA) or any UEN Issuance Agency. The officer will appoint a CorpPass Administrator to overlook the CorpPass accounts.
The Registered Officer and the CorpPass Administrator will ensure the setup, use, and access of the CorpPass accounts. The Ministry further stated that a business can appoint more than one Registered Officer and a maximum of two CorpPass Administrators.
You can access further details of their roles and responsibilities on the CorpPass website.
The Plan Ahead
CorpPass, launched on 15th September, 2016 will roll out till December, 2017 in a phased manner. The current phase covers services from Ministry of Trade and Industry, National Environment Agency, Intellectual Property Office of Singapore and Singapore Customs. Each phase will introduce additional services that the CorpPass will cover.
With the launch of CorpPass, Singapore’s government has taken yet another step towards its goal of transforming the country into a smart nation.
