What is a CorpPass?
Very often, enterprises and other non-profit companies must deal with state agencies for the transferring of money. To make such dealings comfortable, safe, and quick, a corporate digital identity known as Singapore Corporate Access (CorpPass) was introduced.
CorpPass will serve as a form of digital identification for all businesses in Singapore. It will be the only login method to facilitate business transactions with the government of Singapore. This came into effect on September 1, 2018. It also ended the use of other previously-existing login methods such as SingPass and EASY.
There are currently over 130 state digital facilities provided by around 50 state companies in which CorpPass plays a critical role.
Why was CorpPass needed?
The primary concern leading up to the launch of this new corporate digital entity was the safety and protection of money transfer data. Singapore state e-services or SingPass, the older online money transfer platform, lacked personal privacy and required multiple IDs for money transferring.
However, CorpPass’s role is to make all of one’s dealings conducted through a single ID and keep clients’ personal identity safe and protected. CorpPass improves one’s personal privacy and protects any sensitive business information. This can be done because CorpPass segregates the login ID used for personal transactions and the login ID used for corporate ones. Approximately 1,500 enterprises have already shifted to CorpPass and the state is thinking of making CorpPass registration mandatory towards the end of the year. Thus, it is advisable to register for CorpPass as soon as possible.
Why is it necessary to register for CorpPass?
Unlike previous money transferring platforms SingPass and EASY, CorpPass completely separates personal dealings from corporate dealings. This creates complete protection of privacy. It also helps the state to easily track all the money transferring records and point out any discrepancies.
The government of Singapore has planned to make CorpPass mandatory for all business agencies in the country from September 1, 2018. This means the older platforms like SIngPass and EASY will no longer be effective for enterprise dealings. Around 80% of enterprises have already begun using to this advanced service, with others soon to follow.
Who needs a CorpPass?
Not all enterprises require a CorpPass. CorpPass will be the preferred transferring platform for all enterprises which hold a Unique Entity Number (UEN). All foreign agencies looking to work with state organizations will also need a CorpPass account. The only enterprises excluded from this policy are non-UEN enterprises.
Benefits of CorpPass
The following are some benefits of CorpPass registration:
1. Convenient transaction service
Before CorpPass, money transferring platforms like SingPass and EASY demanded multiple accounts for the money transfers. CorpPass registration will make money transfers easier as it allows all dealing with the state companies to be done using only one ID.
2. Secure personal privacy
SingPass and EASY allowed one to give personal ID to others to make different money dealings. This left the person’s own data vulnerable. CorpPass provides far more protection and security of personal privacy. It separates personal dealings from enterprise dealings completely and helps the user and government to easily keep track of all the money transfers made.
Steps to register for a CorpPass
The CorpPass website provides four different CorpPass account varieties to choose from. These are:
- CorpPass Admin
- CorpPass Sub-admin
- CorpPass Enquiry User
- CorpPass User
Those who plan to register for a CorpPass for their business may follow these simple steps to do so.
1. Select a registered officer (RO)
An RO is person in charge who is also an ACRA or a UEN holder of the enterprise. This person may be an owner, director, partner, board member, or corporate secretary. An RO accepts a CorpPass Admin registration for the agency.
2. Identify the CorpPass role
An RO does not need an individual CorpPass admin account if the RO has an administer. However, ROs who want to hold a CorpPass admin account may open their own CorpPass account.
3. Become a CorpPass admin
The RO will select a person whose sole duty is the handling of CorpPass-related matters of the company. The RO will select this person from the administrative, finance, or HR directors of the company. The person who registers for the CorpPass admin account has to be a SingPass holder.
An enterprise may have a maximum of two CorpPass admins.
4. Make a CorpPass user account
A CorpPass user account is made to handle business dealings with the government. A worker from the HR department will be selected to execute this corporate service. For this purpose, the CorpPass admin will open any necessary user accounts. There is no limit to the number of user accounts which may be created.
5. IRAS services
It is the duty of the CorpPass admin to select and allow entity users to the IRAS’s digital facility.
Those who have already shared access to all the digital facilities with the IRAS may skip steps 4 and 5.
For GST enterprise groups, the following are the steps to register for a CorpPass:
1. CorpPass admin account
A new person from the company may be selected as the CorpPass admin. Alternately, an already functional GST CorpPass admin may be upgraded. For this purpose, an IRAS attachment in PDF form and five days’ advance notice will be required.
2. CorpPass user account
A different person for this role can be assigned in the same way as how UEN holder enterprises do so. This step can also be skipped by making the CorpPass admin in charge of this responsibility.
3. GST e-Service
The last step is to assign the e-service duty to the CorpPass admin.
Requirements to register for a CorpPass:
For Singapore entities, CorpPass registration requires the following:
- SingPass registration for online registration
- Letter of authorization for offline registration
For foreign entities, CorpPass requirements include the following:
- Business registration document
- Identifying document
The online application will be received and approved by CorpPass.
Roles of people related to the CorpPass
There are several people who are connected to the CorpPass who have important roles to play.
The RO is a person whose name is the one which has been registered with ACRA. It is the RO’s duty to nominate and approve new CorpPass administrators. An RO can be a corporate secretary, partner, or director.
The most important person involved is the CorpPass administrator. A CorpPass administrator is someone who has been authorized by the RO to create CorpPass accounts, then deal with issues regarding access to digital services. This person must be someone who manages government-to-business transactions on the company’s behalf. The administrator is to be selected from the administrative, finance, or HR directors of the company. In smaller companies, the RO and the CorpPass administrator may be the same person.
A CorpPass sub-administrator is someone who has been authorized by the CorpPass administrator. This person manages CorpPass accounts and digital service access on the entity’s behalf. CorpPass sub-administrator accounts are only to be created by the administrator. The RO does not have to approve them. Just like the administrator, the sub-administrator may create CorpPass enquiry user and CorpPass user accounts.
CorpPass enquiry users and users both conduct transactions with government digital services and agencies. Enquiry users may also view the details of the facts regarding the company’s CorpPass. In smaller companies, the CorpPass administrator may also be a user. However, most CorpPass users are corporate services personnel such as HR managers or payroll executives.
Responsibilities of a CorpPass administrator
CorpPass administrators ought to be informed about the responsibilities they are to carry out. They must create and manage CorpPass accounts and digital service access for the entity to which they are linked. To do so, administrators must know how to do the following: suspending, terminating, and reactivating the accounts of CorpPass users; assigning rights to digital service access to the accounts of users who need such rights; and updating details of CorpPass users.
Can foreigners register for a CorpPass?
Foreigners can easily use CorpPass’s services to secure their dealings and improve their facilities. Foreign enterprises which have a SingPass can easily apply for CorpPass registration. Those which have neither SingPass nor EASY access can use the mobile application CorpPass 2FA.
Who is eligible for CorpPass’s corporate digital services?
Local UEN holder enterprises and foreign enterprises have different eligibility criteria for CorpPass’s corporate digital services.
The following enterprises are eligible:
- uen.gov.sg-assigned UEN holder enterprises.
- IRAS-assigned GST enterprises.
- IRAS-assigned ASGD tax reference holding companies.
- IRAS-assigned ITR income tax reference holding companies.
In cases of foreign enterprises which don’t have a local UEN but are recognized by Singapore, the state is eligible for the CorpPass digital service.
Categories: Company Secretary Service