Business Encyclopedia

A

Accounting and Corporate Regulatory Authority (ACRA)
Audited Financial Statement
Annual General Meeting (AGM)
Annual Report (AR)
Articles of Association
Apostille

B

BizFile
Business Grants Portal
Business Profile

C

Central Provident Fund (CPF)
Certificate Of Residence (COR)
Common Reporting Standard
Common Seal
Companies Act (Cap. 50)
Company Constitution
Company Secretary
Company Stamp
CorpPass

D

Dependant’s Pass
Directors’ Resolution in Writing (DRIW)
Dividend
Dormant Company
Double Taxation Agreement (DTA)
Due Diligence

E

Electronic Register of Members (eROM)
Employment Pass (EP)
EntrePass
Enterprise Development Grant (EDG)
Estimated Chargeable Income (ECI)
Exempt Private Company (EPC)

F

Financial Year End (FYE)
Form C-S/ C
Form C-S (Lite)
Fund Accounting

G

Goods and Services Tax (GST)

H

Hedge Fund

I

Import/Export License
Income Tax
Initial Public Offering (IPO)
Inland Revenue Authority of Singapore (IRAS)
Intellectual Property Office of Singapore (IPOS)
Interim Dividend
IR21 Form

J

K

Know Your Customer (KYC)
Knowledge Capital

L

Letter of Consent (LOC)
Limited Liability Company (LLC)
Limited Liability Partnership (LLP)
Limited Partnership (LP)
Liquidation (Court Order/Compulsory)
Liquidation (Voluntary)
Long Term Visit Pass (LTVP)

M

Ministry of Manpower (MOM)
MTI

N

Nominee Director
Nominee Shareholder
National Registration Identity Card (NIRC)

O

P

Partnership
Personal Data Protection Act (PDPA)
Personalised Employment Pass (PEP)
Private limited company
Productivity Solutions Grant (PSG)
Permanent Resident (PR)

Q

Quickbook Accounting

R

Register of Charges
Register of Nominee Director
Register of Registrable Controllers (RORC)
Registered Office Address

S

S Pass
Share
Small Company
Sole Proprietor
Special Employment Credit
Sponsored Employment Pass
Striking Off

T

Trademark
Temporary Bridging Loan
Temporary Employment Credit (TEC)

U

UEN
Unaudited financial statement
Undischarged Bankrupt

V

Variable Capital Company (VCC)
Venture Capitalist (VC)

W

Wage Credit Scheme
Withholding Tax (Section 45)

X

XBRL
Xero

Y

Year of Assessment (YA)

Z

Zero Rated Supplies
Zero-rised Financial Statement

Permanent Resident (PR)

A Permanent Resident (PR) enjoys some of the benefits given to a citizen of a country. Foreigners who are PRs can live, work, study, retire as well as travel in and out of the country without any visa.

Can Work Pass Holders get a PR in Singapore?

An EP or S Pass holder can apply for a PR. Other than voting in a general election, and the availability of generous subsidies given to a Singaporean, a PR is similar in terms of rights and CPF contribution. Like EP, PR is also subject to renewal every 5 years.

Under the Enlistment Act, all male Singapore Citizens, and Permanent Residents, unless exempted, are required to serve National Service (NS). Following the completion of full-time NS, they will be required to serve up to 40 days of Operationally Ready National Service (ORNS) per year for the duration of their ORNS training cycle, till the age of 50 years (for officers) or 40 years (for other ranks).

Main applicants who are granted PR status under the Professionals/Technical Personnel and Skilled Workers Scheme or the Investor Scheme, are exempted from NS.

Renouncing or losing one’s PR status without serving or completing full-time NS would have an adverse impact on any immediate or future applications to work, study or live in Singapore, or for Singapore citizenship or PR status. Renouncing or losing one’s PR status without serving or completing full-time NS may also adversely affect any immediate or future applications for renewal of Re-entry Permits made by one’s family members or sponsors.