Client Privacy Policy – Collection, Use and Disclosure of Personal Information
Scope and Application of Policy
At Providence Management Services Pte Ltd (“Providence”), we are committed to protecting and maintaining the accuracy, confidentiality and security of your personal information as a client of Providence. This Client Privacy Policy describes the personal information Providence collects from or about you, how we use that information, and to whom and in what circumstances we disclose that information.
This Client Privacy Policy (“Policy”) applies to all commercial and business relationships in which Providence is engaged. The Policy is intended to comply with privacy legislation relating to commercial activity in all jurisdictions in which Providence operates, where such legislation is in force.
Privacy Officer
In order to ensure compliance with this policy and applicable privacy legislation, Providence has appointed a Privacy Officer. Providence’s Privacy Officer will also address and evaluate complaints to the policy on a case-by-case basis. If you have any questions or complaints about the application of this policy, please contact Providence’s Privacy Officer:
Budhi Darmojo
Privacy Officer
E-mail: pdo@providencems.com
Mobile: +65 96668630
Collection, Use and Disclosure of Personal Information
For purposes of this Client Privacy Policy, personal information means any information about an identifiable individual, other than the person’s business title or business contact information when collected, used or disclosed in the course of commercial activity, to conduct business with you or provide services or products to you.
The type of information we collect about you includes and not limited to the following:
*Information such as your name, home address, telephone number and e-mail address
*Identity card number, or other government identification number
*Copies of any agreements you enter into with us
*Information that you provide to us, such as your bankers, advisors, feedback and comments
*Financial information
*Verifying your identity in order to grant website access
Providence uses the personal information above for different purposes relating to the management of our business and our relationship with you. These purposes include, but are not limited to the following:
*Establishing, maintaining and managing a business relationship with you so that we may provide you with services or products that you have requested
*Enabling us to comply with your requests such as preferred method of communication
*Sharing your personal information with a party representing you, such as your investment representative, financial planner or to other third parties at your direction/consent
*Enabling us to review services that we provide to you so that we may understand your requirements for our services and improve our products and services
*Protecting our business from error, fraud, theft and damage to our goods and property
*Enabling us to comply with applicable law or regulatory requirements (including tax requirements)
*Safeguarding and protecting Providence’s confidential information
*Other purposes reasonably required for the management of our business relationship with you and the management of Providence’s business
Providence shares your personal information with its employees, auditors, contractors and consultants and other parties who require such information to assist us with administering our business relationship with you. These include third parties that provide services to us or on our behalf, third parties that collaborate with Providence in the provision of services to you and third parties with whom we contract to perform our services.
In addition, your personal information may be disclosed or transferred to another party in the event of a change in ownership of, or a grant of a security interest in, all or part of Providence through a sale transaction or some other form of business combination, merger or joint venture. We will disclose personal information in these circumstances only when the third parties agree to use such personal information solely for the purposes evaluating and carrying out the transaction and, with respect to that information, to act in manner consistent with the principles articulated in this Client Privacy Policy.
Providence may contract with third parties located in one or more countries outside of Singapore to provide Providence with processing, storage or other administrative or data-related services. Please be advised that in that case your information may be transferred to, processed, used and stored in those countries, and that the governments, courts or law enforcement or regulatory agencies located in those countries may be able to obtain disclosure of your information through the laws of, or pursuant to a lawful order made in, those countries.
Consent
We require your consent to collect, use and disclose your personal information in accordance with this Policy. Consent may be expressed or implied. Express consent may be given orally or in writing, including electronic transmission. Implied consent is consent that can be reasonably inferred by your action or inaction. By providing us with the personal information described in this Policy, we assume you have impliedly provided Providence with your consent to collect, use and disclose your personal information in accordance with this Policy.
You may withdraw or limit your consent to Providence’s collection, use and disclosure of your personal information at any time, subject to your legal and contractual obligations you may have to us as a result of our business relationship. You must provide reasonable notice of the withdrawal of your consent. All communications with respect to the withdrawal or limitation of your consent should be directed to our Privacy Officer in writing.
In some circumstances, Providence is entitled, or required, to disclose your personal information without your consent. These circumstances include, but are not limited to:
*Protecting your health or safety
*The disclosure is necessary for an investigation or proceeding
*The disclosure is required or authorized by law
*The disclosure is required to comply with a subpoena, warrant or order of a court or other body authorized to compel production of the information
*The disclosure is to a public body and relates to an investigation of an offence
*The disclosure is to a lawyer who is representing Providence
*The disclosure is required to respond to an emergency
*Where the personal information is publicly available
Accuracy and Retention of Personal Information
Providence endeavors to ensure that any personal information in its possession is as accurate, current and complete as necessary for the purposes for which we use that information. If your personal information changes or you believe information we have about you is not accurate, please notify us as soon as reasonably possible. Any request to verify or correct your personal information must be made in writing to Providence’s Privacy Officer. In some circumstances, we may not agree to your request to change your personal information, but will instead append an alternative text to the record in question.
We keep your personal information only as long as it is required for the reasons it was collected. The length of time we retain information varies, depending on the product or service and the nature of the information. This period may extend beyond the end of your business relationship with us but it will only be for as long as it is necessary for us to have sufficient information to respond to any issues that may arise at a later date and to comply with applicable law and regulatory requirements. When we no longer require your personal information, we will either destroy or erase it, or we will make it anonymous such that it cannot be associated with or tracked to you.
Safeguarding Personal Information
Providence is committed to protecting the security of your personal information. We endeavor to maintain physical, technical and procedural safeguards that are appropriate to the sensitivity of the personal information in question. These safeguards are designed to prevent your personal information from loss and unauthorized access, copying, use, modification or disclosure.
Access to Your Personal Information
You may ask to see the personal information we have about you. A request to review your personal information must be made in writing to Providence’s Privacy Officer. Providence will endeavor to provide the information requested within a reasonable time from the date of the written request, or within the time otherwise required by law.
If you make a request to review your personal information, we may request specific information from you to enable us to confirm your identity and right to access such information. We may also require information that would assist us in locating your personal information. We may charge a fee to access your personal information; if so, we will notify you of that fee at the time you make your request or within a short time thereafter.
Providence reserves the right to decline to provide access to personal information in certain circumstances. These include, but are not limited to, circumstances where the information requested:
*Would disclose personal information, including opinions, about another individual
*Would disclose Providence’s trade secrets or other confidential business information
*Is subject to lawyer-client privilege
*Is not readily retrievable and the burden or cost of providing it would be disproportionate to the value of the information
*Does not exist or cannot be found
*Could result in serious harm to the individual requesting it, serious harm to the life, safety or health of another person, or serious emotional harm or embarrassment to another individual
*May harm or interfere with law enforcement activities and other investigative or regulatory functions of a body authorized by statute to perform such functions
*May be or is required to be withheld by other legislation
Where information requested will not or cannot be disclosed, Providence will provide the reasons for non-disclosure.
Revisions to this Policy
Providence may amend this Client Privacy Policy from time to time to reflect changes in its legal or regulatory obligations or in the manner in which we deal with your personal information. We will post any revised version of this Policy on our website at www.providencems.com. We encourage you to review the website on a regular basis. Any changes to this Policy will be effective as of the date posted on the website.
Interpretation of this Policy
The Privacy Officer has the responsibility and authority to interpret and administer this Policy. This Policy does not create or confer any additional rights or obligations to those imposed under provincial or federal privacy legislation. Should there be, in a specific case, any inconsistency between this Policy and applicable provincial or federal privacy legislation, then this Policy will be interpreted to give effect to and comply with such privacy laws.
COMPANY FILING REQUIREMENTS :
A) ACRA ( ACCOUNTING AND CORPORATE REGULATORY AUTHORITY)
ANNUAL GENERAL MEETING(AGM)
– Within 18 Months of incorporation or 6 Months after year end, whichever earlier –
ANNUAL RETURNS OF DIRECTORS AND SHAREHOLDERS AND ACCOUNTS ETC.
– Within one Month after AGM
AUDITED ACCOUNTS/ UNAUDITED ACCOUNTS
– Ready for agm 14 Days before AGM
– Accounts year and must be made up not more than 6 Months before the AGM
DOCUMENTS FOR AUDITING/ ACCOUNTS COMPILATION
– Ready for agm 14 Days before AGM
– Accounts Year end must be made up not more than 6 Months before the AGM
B) ACRA ( ACCOUNTING AND CORPORATE REGULATORY AUTHORITY)
FILING OF ESTIMATED CHARGEABLE INCOME
– Within 3 Months of Year end
FILING OF FORM C RETURNS
– 30/11/2013
C) GOODS AND SERVICES TAX REGISTRATION (GST)
– Registration is required once the company is aware that sales for the next 12 months will be more than SGD$1,000,000.
We empower our clients through knowledge transfer via our Training and Management Consultancy programmes. We provide a full range of training including accounting staff training and organisation and development training for management staff. We conduct customised training for our clients to address their specific needs. In addition, we also provide management consultancy to help companies to improve their work flow so that efficiency and effectiveness can be enhanced.
Our trainings are conveniently held at 6 Sinaran Drive, Soliel@Sinaran, which is next to Novena MRT. Free parking available.
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Report of the financial condition of a firm.
Providence provide compilation of accounts services where we will review your draft accounts (Profit and Loss, Balance Sheet and General Ledger) and prepare the full set of financial reports, including the Directors’ Report and Statements, and the following statements in accordance with Singapore Financial Reporting Standards (“FRS”):
– Statement of Comprehensive Income
– Statement of Financial Position
– Statement of Changes in Equity
– Statement of Cash Flows; and
– Notes to the Accounts.
This is especially cost effective when you can gather the basic financial information but do not have the capabilities to prepare the full set of financial reports. We will also advise you as to how to gather these information and present to us so that we can work efficiently together.
Strike off your dormant companies to avoid unnecessary compliance fees.
We can assist you to apply to strike off your dormant companies to avoid unnecessary compliance fees. The following are some conditions that you must meet in order that your application to strike off can be successful.
The fees for application to strike-off companies starts from $450, including $35 fees paid to ACRA.
We help you to meet your tax deadlines and assist you in tax compliance under an accredited tax practitioner recognised by IRAS.
We provide the following services relating to GST:
We provide the following services relating to Corporate Tax:
Computation of payroll, Generation of payslips, CPF submission, and IR8A forms.
Our highly efficient and confidential payroll services include the following:
We also help companies with less than 50 staff to set up their payroll system using Excel or MYOB Payroll and provide training as required.
Book-keeping services for small and medium size companies.
We provide book-keeping services for small and medium size companies using MYOB Accounting System. You can opt to have monthly, quarterly or yearly closing, depending on your needs.
We also provide advisory services to companies on setting up their own accounting system and provide an incubation service, where our professional team will handle the accounts until the Company is ready to set up its own accounting team. We can provide training for the new accounting team.
We also assist companies to clear backlog and review the accounting work done so that they can be ready to be audited.
Book-keeping charges starts from $100 per month. We also provide compilation of accounts, which starts from $500, depending on the complexity and timeline of the accounts.
Setting up an Appropriate Company Structure: It is important that you have good quality advice when incorporating your company. It is a legal entity that must be appropriate to your anticipated long term needs. Over 20 years of experience in this field has given us the knowledge and understanding that will ensure you are in safe hands. We would like to fully understand your current requirements and your long term aspirations for your company so that our advice is based on a business plan that is appropriate for many years to come.
Stage 1 – Advice
Providing advice on the appropriate company structure for your chosen enterprise. Considerations:
– Personal and Corporation Tax Implications
– Liability of Owners
– Reporting Responsibilities of Company
– Anticipated Turn-Over
– Number of Employees
– Likelihood of Expansion Overseas
Stage 2 – Details
Once the appropriate company structure is agreed upon, you will need to decide the name of your company, management structure, share ownership, and the amount of share capital.
Stage 3 – Incorporation
We will prepare the necessary paperwork for the application to the authorities and manage the process of successfully incorporating the chosen company structure on your behalf. Our charges for the incorporation of companies starts from $1,000. The fees include ACRA fees of $315 and company secretarial services for the first year.
It is mandatory legal requirement that a company incorporated in Singapore must have a Company Secretary.
Each company must fullfil their statutory reporting requirements as set out by the Singapore Government Legislation otherwise fines are imposed on a monthly basis until the said requirements are fullfilled. This can lead to costly compounded bills. It is therefore worthwhile appointing a experienced professional company secretary to ensure your company does not fail to comply with Singapore’s reporting requirements.
Whilst Company Secretaries have various legal requirements to fulfill, they do not have any management control of the company.
Providence can provide you with pro-active and efficient Company Secretarial Services at very reasonable all-inclusive annual rates (ACRA fees are to be reimbursed).
This service includes: