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
IR8A 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)
Notice of Assessment (NOA)

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
SingPass
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

Sponsored Employment Pass

A Sponsored Employment Pass (SEP) is issued if your employer is an overseas-registered company. This is much different from an Employment Pass (EP), which is given only when your employer is a Singapore-registered company.

Application Procedure

  • The candidate must go to Singapore’s Ministry of Manpower to apply for an Employment Pass (for Sponsorship situations).
  • The application form can be downloaded.
  • You have to read the instructions carefully before filling out the application form and double-check that all of the information is right (Incomplete application form will be rejected)
  • The applicant must provide all of the required documents.
  • Print out the application form and have everyone sign it.
  • The applicant must pay the $105 application fee electronically after completing the application form.
  • After receiving payment, the authorities begin processing the application.
  • The applicant must upload the application form and other supporting papers.
  • It takes around eight weeks to process an application after it is submitted. To check the status of an application, the applicant can go to the Ministry of Manpower website for confirmation.
  • The application’s outcome will be mailed to the company.

NOTE: The applicant’s organization must have a CorpPass to submit the application form. 

Documents Required

  • An application form
  • A Foreign Identification Number
  • Receipt for fee payment
  • Page 1 of the foreign employee’s travel document, including their personal information. Please provide the papers proving any changes to the particulars (e.g., name or expiration date).
  • Certificate of education for a foreign employee.
  • Certificate of business registration from an overseas employer, stating the company’s registered name and date of registration.
  • (If the sponsoring company is a food outlet) The Singapore Food Agency issues a food store license (SFA)
  • Letters of registration or support from the appropriate agencies