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You can read the full article on "Singapore permanent residence" here
The Singapore PR is a privileged visa that encourages foreign specialists, certain types of investors, and family members of Singapore residents to work and keep staying in Singapore continuously.
However, being a Permanent Resident of the Singapore region also comes with duties. Young sons who are permanent residents of Singapore must be part of the military by the age of 16.5 years and serve for 2 years. They must also participate in 40 days of Operationally Ready National Service every year until they reach the age of 50 or 40, depending on their ranks.
Who is Eligible for the Singapore PR Visa?
Legally married partners of Singapore PRs or citizens
Unmarried children (under 21 years), provided they are born out of a legal marriage or have been legally adopted, of Singapore PR holders and citizens
Elderly parents of a resident
Students studying in an institution within Singapore
Holders of Employment passes and S passes (along with personalized job pass and EntrePass holders
)Foreign investors who apply to the Singapore Economic Development Board under the Global Investor Program.
Documents Required
Different PR Categories will require slightly different documents but the common items are listed below:
Your valid SingPass
A passport-sized photograph in color with a size of 35 mm by 45 mm and pixel size of 400 by 514. The photo is to be set against a white background with the face fully visible facing the camera.
Holders of passes will require Employer Details in a prescribed format.
A valid work or immigration pass passport that will not expire for the next 6 months
Identity Documents
Birth Certificates (for children of PR holder or citizen)Custody papers in case of separation from spouse
Certificates of Most Advanced Educational Attainment
Employer’s letter describing the nature of work (for work pass holders), basic salary6-month payslips
Company or Partnership registration certificates
Professionals would require a valid license to practiceIRAS/CPF consent forms to confirm financial details provided
Application Process for the Singapore PR
You can submit your application via the e-PR website run by the Immigration Checkpoints Authority (ICA).You will first need to login using your SingPass (a digital identity issued by the Singapore Government for transacting with itself.Next, you will be given a questionnaire on the online system that determines whether you are eligible or not.Next, choose your PR category (Spouse/Child/Elderly Parent/E Pass/S Pass).You can either download the PR application form, fill it in with the information required and upload it again, or you can fill the entire form online.Once the application process begins, you have 7 days or 168 hours to complete it.You can edit/review multiple applications for family members or sponsored pass holders.After all the documents have been uploaded (size limit is 2 MB), you will need to make a fee payment to successfully complete the process.
Things Which Affect Your Singapore PR Application
Your academic background gets the most weightage
How long you’ve been in Singapore matters
Is your job permanent or temporary?
Is your company from a traditionally accepted field or industry?
Are you a law-abiding citizen?
Links to family in Singapore
Prior experience, reputation, or professional attainment
Volunteer contributions in the past within Singapore or subsidies given to Singapore businessmen
How Long Does It Take for Your PR Application to be Processed?
The normal time for PR applications to get processed is four to six months while some applications may take extra time to get processed
Benefits of becoming a PR in Singapore
Travel, stay, work in Singapore without restrictions.
You can change jobs without having to re-apply for a Singapore work warrant. If you are an Employment pass or S pass holder, you will have to go through individual application processes again in order to change your employer or your rank. This could even lead to losing an opportunity because of unnecessary delay.
Old parents of Singapore PRs can also relocate and receive long-stay visas.
Enjoy monetary and tax advantages through the Singapore Central Provident Fund (CPF).Bring your spouse and children into the country.
You get higher priority for loan applications and purchase property as a PR holder.
You can be a local Director or register your business in Singapore available to Singapore residents.
Educate your children in both government and private schools offering world-class education.
Access both government and private healthcare services at affordable rates.
The Singapore PR is a privileged visa that encourages foreign specialists, certain types of investors, and family members of Singapore residents to work and keep staying in Singapore continuously.
However, being a Permanent Resident of the Singapore region also comes with duties. Young sons who are permanent residents of Singapore must be part of the military by the age of 16.5 years and serve for 2 years. They must also participate in 40 days of Operationally Ready National Service every year until they reach the age of 50 or 40, depending on their ranks.
you can read the full article on "Singapore pr" here
Who is Eligible for the Singapore PR Visa?
Legally married partners of Singapore PRs or citizens
Unmarried children (under 21 years), provided they are born out of a legal marriage or have been legally adopted, of Singapore PR holders and citizens
Elderly parents of a resident
Students studying in an institution within Singapore
Holders of Employment passes and S passes (along with personalized job pass and EntrePass holders
)Foreign investors who apply to the Singapore Economic Development Board under the Global Investor Program.
Documents Required
Different PR Categories will require slightly different documents but the common items are listed below:
Your valid SingPass
A passport-sized photograph in color with a size of 35 mm by 45 mm and pixel size of 400 by 514. The photo is to be set against a white background with the face fully visible facing the camera.
Holders of passes will require Employer Details in a prescribed format.
A valid work or immigration pass passport that will not expire for the next 6 months
Identity Documents
Birth Certificates (for children of PR holder or citizen)Custody papers in case of separation from spouse
Certificates of Most Advanced Educational Attainment
Employer’s letter describing the nature of work (for work pass holders), basic salary6-month payslips
Company or Partnership registration certificates
Professionals would require a valid license to practiceIRAS/CPF consent forms to confirm financial details provided
Application Process for the Singapore PR
You can submit your application via the e-PR website run by the Immigration Checkpoints Authority (ICA).You will first need to login using your SingPass (a digital identity issued by the Singapore Government for transacting with itself.Next, you will be given a questionnaire on the online system that determines whether you are eligible or not.Next, choose your PR category (Spouse/Child/Elderly Parent/E Pass/S Pass).You can either download the PR application form, fill it in with the information required and upload it again, or you can fill the entire form online.Once the application process begins, you have 7 days or 168 hours to complete it.You can edit/review multiple applications for family members or sponsored pass holders.After all the documents have been uploaded (size limit is 2 MB), you will need to make a fee payment to successfully complete the process.
Things Which Affect Your Singapore PR Application
Your academic background gets the most weightage
How long you’ve been in Singapore matters
Is your job permanent or temporary?
Is your company from a traditionally accepted field or industry?
Are you a law-abiding citizen?
Links to family in Singapore
Prior experience, reputation, or professional attainment
Volunteer contributions in the past within Singapore or subsidies given to Singapore businessmen
How Long Does It Take for Your PR Application to be Processed?
The normal time for PR applications to get processed is four to six months while some applications may take extra time to get processed
Benefits of becoming a PR in Singapore
Travel, stay, work in Singapore without restrictions.
You can change jobs without having to re-apply for a Singapore work warrant. If you are an Employment pass or S pass holder, you will have to go through individual application processes again in order to change your employer or your rank. This could even lead to losing an opportunity because of unnecessary delay.
Old parents of Singapore PRs can also relocate and receive long-stay visas.
Enjoy monetary and tax advantages through the Singapore Central Provident Fund (CPF).Bring your spouse and children into the country.
You get higher priority for loan applications and purchase property as a PR holder.
You can be a local Director or register your business in Singapore available to Singapore residents.
Educate your children in both government and private schools offering world-class education.
Access both government and private healthcare services at affordable rates.
If you intend to register your business in Singapore, the Accounting and Corporate Regulatory Authority (ACRA) is going to be your first stop. This authority is the equivalent of Companies House in the UK or the Registrar of Companies in India.
This article will tell you what the ACRA’s mandate is, why it maintains the BizFile, and how you can use that interactive digital database to conveniently register your company from anywhere in the world.
you can read more about "Singapore BizFile" here
Understanding the BizFile
The BizFile is ACRA’s online portal for capturing information for business registration, filing, and reporting. Introduced in 2004, it was replaced in 2016, by a younger, more powerful system called the BizFile+.The newer portal made processes streamlined, quicker, and could handle much larger volumes of users. It is this system that makes it possible to register and set up reporting remotely.
The BizFile+ is based on the XBRL (XML-based Business Reporting Language). This means that financial and business analysis tools are able to glean more information from the data you (the business user) feeds into the e-forms that form part of the system.
Using the BizFile+ Portal to Register Your Business
1. Logging In
You have to log in at the BizFile+ portal using your SingPass to register a
sole proprietorship
or partnership. All legally recognized business owners, including partners or authorized representatives, must indicate their acceptance via BizFile before the business can be registered.
Alternatively, you may engage the duties of a registered filing agent (e.g. law firm) to complete the online application on your behalf.
2. Payment of feesThere is a $15 name application fee. You have to submit this amount before filing for registration at the BizFile+ portal. Then there is a $100 registration fee on the website for company registration.If you want to renew your application, then you have to submit $30 for this.You can easily pay these fees using different modes such as
:Debit or Credit Card,
VISA,
American Express
Paypal
Apple Pay
Google Pay
3. How Long Does it Take?
For sole proprietorships and partnerships, registrations are usually authorized within 15 minutes after the registration fee is paid and confirmed.
If an application needs to be sent to another government agency for authorization, registration takes around 14 days to 60 days for approval. For example, the setting up of private schools must be authorized by the Ministry of Education before the business can be enrolled. For partnerships, the business is officially registered only after all the partners or authorized representatives have approved or licensed the application.
BizFile+ Uses
The BizFile+ is used to enter your business records in the national company database.
You can instantly change your business information: Company name, business activity, names of shareholders, etc.
In case you’re late in filing an annual return or financial statements, this portal allows you to easily request an extension.
You have the option of feeding financial information in XBRL format directly from your accounting software into BizFile. If you have signed copies of AGM minutes, upload the pdf version. LLPs, LPs, Partnerships, or Sole Proprietorships do not need to file financial statements.
ACRA BizFile+ Advantages
There are plenty of benefits for companies to file applications online with BizFile in very little time. Some of the important benefits of ACRA’s BizFile comprise::Increased convenience for businessesQuick and cost-effective as there is no paperwork involved in filingEnhanced accuracy of dataImproved compliance in respect of the regulatory requirementsGood operational efficiency
If you intend to register your business in Singapore, the Accounting and Corporate Regulatory Authority (ACRA) is going to be your first stop. This authority is the equivalent of Companies House in the UK or the Registrar of Companies in India.
This article will tell you what the ACRA’s mandate is, why it maintains the BizFile, and how you can use that interactive digital database to conveniently register your company from anywhere in the world
you can read more about" Singapore Acra" here
Role of the ACRA?
As mentioned before, the ACRA is both Registrar and regulator for corporate services.
This authority is responsible for registering and overseeing all businesses, corporate service providers as well as licensed accountants. The ACRA also suggests ways of easing the environment for business and helps in the development of business products and services.
It was established on 1 April 2004 by the Accounting and Corporate Regulatory Act. The ACRA essentially combined the existing Registrar of Companies and Businesses (RCB) and the Public Accountants’ Board (PAB).Other duties of the ACRA:
Enforcing the Companies Act, the Limited Liability Partnerships Act, the Accounting and Corporate Regulatory Authority Act, the Variable Capital Companies Act, and other related Acts and their Amendments.
Keeping and Updating corporate records and business information.
Providing inputs and recommendations to Singapore’s lawmakers in building a practical system that makes life easier for businesses.
Understanding the BizFile
The BizFile is ACRA’s online portal for capturing information for business registration, filing, and reporting. Introduced in 2004, it was replaced in 2016, by a younger, more powerful system called the BizFile+.The newer portal made processes streamlined, quicker, and could handle much larger volumes of users. It is this system that makes it possible to register and set up reporting remotely.The BizFile+ is based on the XBRL (XML-based Business Reporting Language). This means that financial and business analysis tools are able to glean more information from the data you (the business user) feeds into the e-forms that form part of the system.Using the BizFile+ Portal to Register Your Business
1. Logging In
You have to log in at the BizFile+ portal using your SingPass to register a sole proprietorship or partnership. All legally recognized business owners, including partners or authorized representatives, must indicate their acceptance via BizFile before the business can be registered.Alternatively, you may engage the duties of a registered filing agent (e.g. law firm) to complete the online application on your behalf.
2. Payment of fees
There is a $15 name application fee. You have to submit this amount before filing for registration at the BizFile+ portal. Then there is a $100 registration fee on the website for company registration.If you want to renew your application, then you have to submit $30 for this.
You can easily pay these fees using different modes such as:
Debit or Credit Card, VISA, American Express
Paypal
Apple Pay
Google Pay
3. How Long Does it Take?
For sole proprietorships and partnerships, registrations are usually authorized within 15 minutes after the registration fee is paid and confirmed.If an application needs to be sent to another government agency for authorization, registration takes around 14 days to 60 days for approval. For example, the setting up of private schools must be authorized by the Ministry of Education before the business can be enrolled. For partnerships, the business is officially registered only after all the partners or authorized representatives have approved or licensed the application.
What is the SingPass?
The Singapore Personal Access Pass or SingPass is a digital login system that stores and automatically identifies you when you transact with Government authorities in Singapore. This online password gives you one-touch access to attempt transactions with the majority of government agencies online.
What is the CorpPass?
The CorpPass is a virtual identity for authorizing transactions between you (a business, society, or certain commercial organizations) and the government of Singapore.A CorpPass authorizes these associations to enter into agreements with multiple government agencies online. It is a single login method to begin the government for business transactions
Read More: Singapore CorpPass Guide
Singapore Tax Rate 2021
Singapore’s tax rate, capped at 17%, is one of the lowest in the world. And at 0% Capital Gains Tax, you can’t go any lower. Those are two excellent reasons why you should move your funds to Singapore.
Angel investors, Venture Capitalists, and institutional investors are well aware of the potential for high returns. They consistently prefer putting stock in Singapore incorporated companies. This page will tell you everything you need to know about Singapore’s corporate and personal income tax rates, double-tax-avoidance agreements signed by the city-state, taxes on ownership of assets, stamp duties, tax filing procedures, and tax exemptions in Singapore.
you can read more about "Sg corporate tax" here
Singapore Corporate tax rates
The highest corporate income tax rate in Singapore is 17%, which is determined based on the organization’s chargeable income. For example, taxable income after deducting permissible costs and losses. However the actual rate is one of the lowest. The effective tax rate payable becomes even lower due to the full/incomplete exception system where the main SGD 200,000 of chargeable income is accessible for full or halfway exclusion. Further there are plenty of government motivators, endowments and plans to diminish corporate income tax responsibility.
Is Your Company Tax Resident in Singapore
For a company to be tax resident in Singapore it must be controlled and managed from a location within the Republic. Singapore has Double Tax Agreements (DTA) with 80+ countries. To avoid suffering double taxation, a Singapore tax resident company must obtain a Certificate of Residence (COR). The Inland Revenue Authority Of Singapore (IRAS) will give you a COR if it believes that you have a “fixed place of residence” within Singapore. What this means is that you have a system of management, an office, or some amount of brick-and-mortar space that is likely to remain in place perpetually, to answer official mails and notices and make decisions that affect the business. Tax Residency for Foreign-Owned Companies
Where a company is foreign-owned, tax-residency depends upon:
where the management and control of the business is practised, the place where the company’s executive directors live/have a home, and the location of the physical accounting records and reporting documents of the company
Singapore Corporate tax filing Dates in YA 2021
:The due date for submitting corporate income tax returns (Form C-S/ C) for Year of Assessment (YA) 2021:
(a)e-filing: December 15, 2021
(b)Paper Filing: November 30, 2021NOTE: These dates are the same every year. Bear in mind that Singapore companies have between 11 months – if their financial year ends in December, to 22 months – if their financial year ends in January, to prepare and file their returns.Time frame for Singapore corporate tax filing
Companies should pay their tax within one month from the date of the Notice of Assessment (NOA). Singapore’s electronic money transfer system, GIRO, is the favoured mode for periodic payment of bills in portions
Additionally, companies can appreciate up to 10X minus the interest in regularly scheduled payments when they document their Estimated Chargeable Income electronically inside 90 days from their monetary year end
At present, around 81% of corporate taxpayers record their tax returns on schedule in Singapore
its unique work culture, and establish a completely local presence.
Annual Tax Filling
File all Annual returns with the Accounting and Corporate Regulatory Authority (ACRA)
Every organization should record its yearly re-visitations of ACRA – the National controller of business activities and the public bookkeeper in Singapore, within one month of its AGM date. Do take note that consolidated returns are not allowed and each organization must record its profits independently.
Annual tax returns to be filed with the IRAS
Tax returns are needed to be recorded by November 30 of the evaluation year for income earned in the accounting year previous to the current one.
Conveying Losses Forward
Companies in Singapore are permitted to convey forward the unabsorbed exchange (rental) misfortunes and capital recompenses resulting in a long time to balance against the income of those years until the exchange misfortunes are completely used.
Singapore’s quality of life, safety, cleanliness, and almost zero tolerance for corruption make this country the most preferred destination for work, lifestyles, and business. Before you travel to Singapore, you must understand which types of business visa, passes and permits for employment are available and what you need to be eligible for them.
you can read more about "Singapore Business Visa Process" here
Documents Needed for EntrePass ApplicationsThe Ministry of Manpower (MOM) requires that you follow all the steps below for your EntrePass renewal application:
The Singapore Permanent Residence (PR) is a perpetual visa that allows foreign experts, certain categories of investors, and families of Singapore citizens or PRs to stay or find a job without worrying about the expiry of their being there.
However, being a Singaporean Permanent Resident also comes with duties. Sons who are also Singapore PRs must enroll in the military by the time they are 16.5 years old and mandatorily serve for two years till the age of 18.
They must also participate in 40 days of Operationally Ready National Service annually until they reach the age of 50 or 40, depending on their ranks.
Read here: Singapore PR Application Process
Eligible Applicants for the Singapore PRThere are several areas that your application will be assessed on such as:
The ordinary processing time for PR applications is four to six months while some applications may take an extended time to process.
Benefits of becoming a PR in SingaporeThe price of real estate and office spaces are an important indicator of a market’s business environment. Stamp duties are the Singapore government’s means of moderating those prices and utilizing the funds so collected toward development work.
This article will tell you what stamp duties are, current Singapore stamp duty rates, how they apply to real estate buyers of commercial and residential properties, and how to pay them.
you can read more about "Types of stamps duties in singapore" here
Stamp Duties: Meaning
In ordinary parlance, stamp duties are taxes that the State levies on documents accompanying the transfer of legal titles to property (whether self-owned or taken on rent), shares, or stock in a company.
Although the primary purpose of a stamp duty is to raise money for government activities, they can also temper the prices of the property market.
In Singapore, these tariffs are the responsibility of the Inland Revenue Authority of Singapore (IRAS). If you’re acquiring residential commodities in Singapore, whether as a tenant, a buyer, or a seller, you would be required to pay the following 3 Singapore stamp duties.
Residential Property Legal Definition
Abuilt-up property will be considered residential if it is so designated under its Permitted Use.
Unbuilt properties and lands will be classified as residential if zoning laws for the particular area have that designation.
Some built-up properties will have both commercial and residential parts. These mixed use properties will be considered residential till such parts which are exclusively meant for living purposes only.
Buyer’s Stamp Duty
Buyer’s Stamp Duty (BSD) is the tax that the IRAS levies when property is bought and its liability falls on the person buying the property in question.
BSD Applicability
Applicable BSD rates will be levied on the greater of the following amounts:
For example, if you buy a mansion that is valued by the market at $2 mn. However, you bargain and buy at just $1.8 mn. Your Buyer’s Stamp Duty rate will, in any case, be computed on $2 million, since it’s the higher of the two sums.
Further, courts will only consider those documents for verification of titles that have had stamp duties paid against them.
Modes of Payment of Stamp DutiesLocationAccepted payment modese-Stamping Portal (online)eNETS, cheque, cashier’s orderIRAS Surf Centre e-TerminalseNET, NETS, cashcardSingPost Service Bureaus (at Chinatown, Novena, Raffles Place and Shenton Way)Cash, cheque, cashier’s order, NETS
BSD and ABSD are usually large amounts and you may need to save beforehand.
It is possible to borrow money from the Central Provident Fund (CPF) for stamp duty payments. However, because you earn considerably higher interest on your CPF, it is smarter to borrow and then recover the loan from your CPF.
Understanding the BizFile
The BizFile is ACRA’s online portal for capturing information for business registration, filing, and reporting. Introduced in 2004, it was replaced in 2016, by a younger, more powerful system called the BizFile+.
The newer portal made processes streamlined, quicker, and could handle much larger volumes of users. It is this system that makes it possible to register and set up reporting remotely.
The BizFile+ is based on the XBRL (XML-based Business Reporting Language). This means that financial and business analysis tools are able to glean more information from the data you (the business user) feeds into the e-forms that form part of the system.
you can read more about " What is Bizfile" here
Using the BizFile+ Portal to Register Your Business
1. Logging InYou have to log in at the BizFile+ portal using your SingPass to register a sole proprietorship or partnership. All legally recognized business owners, including partners or authorized representatives, must indicate their acceptance via BizFile before the business can be registered.
Alternatively, you may engage the duties of a registered filing agent (e.g. law firm) to complete the online application on your behalf.
2. Payment of feesThere is a $15 name application fee. You have to submit this amount before filing for registration at the BizFile+ portal. Then there is a $100 registration fee on the website for company registration.
If you want to renew your application, then you have to submit $30 for this.
You can easily pay these fees using different modes such as:
For sole proprietorships and partnerships, registrations are usually authorized within 15 minutes after the registration fee is paid and confirmed.
If an application needs to be sent to another government agency for authorization, registration takes around 14 days to 60 days for approval. For example, the setting up of private schools must be authorized by the Ministry of Education before the business can be enrolled. For partnerships, the business is officially registered only after all the partners or authorized representatives have approved or licensed the application.
What is the SingPass?The Singapore Personal Access Pass or SingPass is a digital login system that stores and automatically identifies you when you transact with Government authorities in Singapore. This online password gives you one-touch access to attempt transactions with the majority of government agencies online.
BizFile+ UsesVietnam is located in South-Eastern Asia. Agriculture is the primary activity and the cultivation of rice is the main source of income for most Vietnamese.
Many investors choose Vietnam for their company registration because it offers technological incentives for companies to establish. In this country, there is cheap labour in comparison to other countries. In Vietnam, investors also get benefit from double taxation.
you can read more about "How to register a company in vietnam" here
Legal entities in Vietnam: an overview
The most common types of entities in Vietnam are:
Limited liability company (LLC):
In this type of entity, there are 1 to 50 members which are also known as owners or founders. These companies do not have shareholders.
Joint-stock company (JSC):
In this type of company, there are 3 minimum shareholders holders and there is no maximum limit.
Requirements/eligibilities for registration of a company in Vietnam
Foreign ownership regulations in Vietnam:
Vietnam allows 100 percent foreign ownership to most of the businesses related to trading, IT, manufacturing, education. But it sometimes disallows foreign ownerships to some businesses. Most of the foreign ownerships are regulated by World Trade Organizations (WTO) agreements but some of them are neither regulated by WTO nor by local laws. In this case, one needs to take the approval of the ministry involved in work related to industries.
Minimum capital requirements:There are no minimum capital requirements for any business line except business related to language centres, vocational schools, real estate companies, banking, insurance, and finance.
The business certificate will show the amount of capital. Change in the capital will lead to a change in documents.
Registered address:
In Vietnam, servicing companies can provide virtual addresses but businesses related to manufacturing, restaurants, retail trading, etc. One must have to submit a document as proof of address that will show the place where one will incorporate business after registration.
Resident director:
All companies incorporated in Vietnam must have at least one resident director who is having a residential place whether having residential status or not.
Documents required for registration of a company in Vietnam
Investment certificate
Enterprise certificate
Memorandum of association
Articles of association
Business license
Passport and visa
Residency information
Steps to the registration of a company in Vietnam
The procedure below shows the process of registration of an LLC company in Vietnam.
Step1 – investment registration certificate
If a foreign company wants to be incorporated in Vietnam then it requires an investment registration certificate. It is issued by the department of planning and investments. It generally takes a month to issue this certificate but when foreign ownership is neither regulated by WTO nor by the local government then issuance of this certificate will take a longer time. It will take 3 weeks as a statutory time limit.
Business registration certificate-
A business registration certificate is also known as an enterprise registration certificate. This certificate is also issued by the department of planning and investments. Its statutory time limit is 1 week.
Tax registration and payment of the business license tax-
All the companies are required to pay tax online through an online portal and also submit tax declarations and reports. The company’s Tax number is the business license certificate number.
Capital contribution-
After receiving a business registration certificate, one must have to contribute capital within 90 days otherwise he is liable to pay a fine.
Apply for sublicenses or permits, if applicable-
It takes approximately one month to the registration of a company in Vietnam. But in some cases where the company needs to apply for sublicenses can take a longer period.
Compliances for companies in Vietnam
Board meetings- In the case of a public limited company, it is required to conduct board meetings quarterly.
Annual general meeting- LLC companies are not required to conduct an annual general meeting but JSC and public limited companies are required to conduct this meeting.
Tax returns- In Vietnam, corporate tax is 20% whereas the personal tax rate is 35%.
Foreign investments and business registration have to be notified with relevant authorities. If there is any change then it must be notified to the department of planning and investments.
Minutes of a board meeting and annual general meeting are kept with the registered office.
At least one resident legal representative must reside in Vietnam.
Foreign investment report – These reports include profits, losses, and expenses throughout the year.
Compliance with employees law – This includes registering employees with social insurance and also making sure that foreign employees must have a permit in Vietnam.
CorpPass Essentials
The CorpPass is the Singapore government’s virtual identity management software that exclusively authenticates and authorizes transactions between businesses and the government.
Ideally, such transactions are handled by specialists such as accountants, cashiers, etc. For the purpose of delegating a company owner’s signing authority, the CorpPass allows you to assign CorpPass administrators and CorpPass users with access to completing those transactions.
you can read more about "Benefits of CorpPass" here
CorpPass UsesYou can use a CorpPass to:
Collect all documents needed for registration.
For Local Entities:
names, email addresses, NRIC, PR, SingPass login For Foreign Entities:
A CorpPass can be used by authorized employees to
While a SingPass allows you to authenticate user logins to various
government services, a CorpPass allows you to authorize other
users/employees to conduct G2B transactions on behalf of the company or
other entity. In this manner, the CorpPass adds a layer of corporate security
for all your digital transactions.
All Singapore registered businesses must obtain a CorpPass to pay employee taxes,
corporate taxes, license fees, stamp duties, and so on.
Yes, Branch Representative Offices of Foreign firms in Singapore must
also apply for and obtain a CorpPass.
There are five types of CorpPass account roles for employees who are active in conducting transactions with the government on behalf of their business entity:
1. Registered Officer (RO): The person whose name appears as the ultimate beneficiary or owner in the ACRA company register and the corresponding UEN identifier. The RO can assign rights to the Corppass users including the Admin. You may also express to be a Corppass Admin to transact on condition of your commodity, without expecting any permissions. The private whose phrase is officially enrolled with ACRA and Associated/ enrolled to the commodity he/she is incorporated will be accountable for nominating 2 Admins and ratifying the CorpPass Admin charge.
2. CorpPass Administrator: This is someone that the RO designates to create CorpPass Accounts and manages their permissions, including their access to specific digital services. For micro-entities, RO’s can allocate themselves as a CorpPass if necessary.
3. CorpPass Sub-Administrator account (CorpPass Sub-Admin): used by the CorpPass Admin to assist manage CorpPass summaries and their admission to online services on structure of their being the Sub-Admins are merely appointed by the CorpPass Administrator. Appointing someone to be a Sub-Admin does not expect the permission of RO.
4. CorpPass Enquiry Database account: A CorpPass summary assembled by the CorpPass Admin or Sub-Admin of the being Also borrowed to administer marketings with the Government’s digital employment and impression elements of their CorpPass format.
5. CorpPass User account: A CorpPass article established by the CorpPass Admin to deal with government digital employment and its agreements. CorpPass User Accounts will have a unique CorpPass ID from the others,There is currently no limit for the CorpPass Users for every entity.