Eternity Law International — News — DPO for Singapore companies

DPO for Singapore companies

Published:
December 11, 2020

We inform you that the Singapore authorities have decided to increase regulatory penalties for violation of data protection law.

Amendments to the law that entered into force on November 2, 2020.

Did you know that every company must appoint a data protection officer and comply with the Personal Data Protection Act?

Has your secretary informed you of the new law and imminent fines in case of non-compliance at the end of the year?

The initial fine is $ 5,000 and can reach $ 1,000,000. The system of penalties is scaled and increased depending on the delay on the part of your company. We have thoroughly analyzed the market and came to the conclusion that companies providing secretarial services cannot always afford to be in trend and have up-to-date information. Many of them are also limited in resources to provide such a service, but the New Year is not coming soon and this holiday is special in Asian countries due to the length of the celebration. Unfortunately, even that minority of secretaries who are aware of the innovations chose to postpone the pleasant surprise for their clients for later.

That is why we have developed a digital data protection suite to help our and your customers achieve PDPA compliance in the shortest time and at an affordable cost.

You need to know the following about the features of this compliance:

  • You need a local DPO employee (strictly Singapore citizen)
  • You need to conclude a contract or agreement with this employee for submission to the ministry
  • This specialist must have the appropriate competencies
  • This employee must be coordinated with the ministry
  • An employee is required to be entered in the ACRA register
  • The DPO must be in touch during the specified business hours and must be able to confirm to the regulator that appropriate data protection measures have been taken within the company
  • The DPO must indicate a telephone number for communication and be ready to answer any questions from the regulator if necessary (regular checks are carried out)

Eternity Law International has the huge expertise in this area and is ready to help your company obtain PDPA compliance status as soon as possible, so that to avoid the threat of penalties from the Ministry of Singapore and reputational risks.

Procedure terms:

up to 10 working days.

Price:

3000EUR, including the Data protection officer salary fund for a year and the entire corresponding procedure. The extension from the second year will be EUR 2,500.

If necessary, on the part of this employee of additional services or actions a separate agreement and discussion is required depending on the request from the client. The employee can provide other services or assistance for an additional fee.

If you still have additional questions, we are always ready to answer them via this email or through any other convenient contact forms for you.

You could be interested

Corporate services in UK

With the onset of the covid restrictions, it seemed to many that most businesses and the world economy would be destroyed. Yes, this pandemic significantly affected many corporations. However, U.K. Corporate Services continue to grow by leaps and bounds. The United Kingdom is considered quite a promising and developed market. Unlike other countries, it has...

Doing business in Latvia

A tiny country with a steady political climate and a vibrant economy, Latvia is now one of the EU’s fastest-growing nations. The nation offers a lucrative market for energy products, capital machines and equipment, medical and basic products, and IT technology and services. A member of the European Union, Latvia is positioned in the middle...

Forex regulation changes

Forex regulation changes. Forex regulation is becoming stricter, but this is expected to benefit the long-term investment safety of clients. The retail forex industry is developing rapidly. And the popularity of online currency and securities trading continues to grow. An overview of regulated forex brokers and the role of internal requirements evolves along with this...

Development of DeFi solutions

Decentralized finance has been receiving special attention since the market crash in 2020. However, until now, not everyone understands the essence of this phenomenon. At the beginning, this name was given to analogs of traditional financial market instruments with a decentralized architecture. Now they are an autonomous public system that consists of decentralized services and...

White-Collar Crime Defense in Luxembourg

It is obvious that such felonies don’t kick down your door or light up the news with flashing lights—but don’t be fooled. Nevertheless, the consequences can be just as devastating. Moreover in the high-stakes world of finance and corporate strategy, even a single accusation—fraud or another one felony from the list—can send shockwaves through an...

Start a foreign company

Start a foreign company – the global crysis is the best time for that. 2019 was not the best year in terms of how many problems it brought. Nevertheless, the further, the more. 2020 has come, and the difficulties have only increased due to the pandemic. However, some experts in the field of economics argue...

Related posts

Singapore Authorised Crypto Companies

From a societal perspective, the crypto currency and blockchain sector has experienced a clear development. Initially, it was simply a new idea, but it quickly became a fundamental aspect of contemporary life. Today, these new technologies have transformed into alternative payment methods, non-centralized options that challenge traditional fiscal institutions, and even tools for marketing. There...

EMI License in Singapore

In the dynamic monetary field of Singapore, achieving an Electronic Money Institution (EMI) permission is a pivotal step for enterprises aiming to operate in the digital payments sector. This comprehensive article explores the intricacies of acquiring an EMI permission in Singapore, including the adjustment substructure, application process, operational conditions, and strategic considerations for accordance and...

PSP license in Singapore

If you’re intending to deliver commercial offers directly connected with payments in Singaporean market, you are obliged by law to acquire a Singapore PSP-license. Below are the key points you need to consider before entering Singaporean financial market-space and getting a Singapore payment service providers license. What’s a PSP authorization? A Singaporean PSP-license is permission...

Ready-made company in Singapore

Singapore, often referred to as the “Lion City,” stands as a beacon of economic opportunity in Southeast Asia. Foreign entrepreneurs and businesses from around the world are drawn to its robust economy, strategic location, and business-friendly environment. One way to expedite your entry into this dynamic market is by purchasing a ready-made company. In this...

Company formation in Singapore

Instituting an enterprise in Singapore is a tough endeavour. We discuss the methods and help you with creating commerce in Singapore. Why should you prefer Singapore? Numerous global companies select to establish their foundations in Singapore. Traders view Singapore as the perfect place to provide their operations, and many of them use it as a...

Company registration in Singapore

What do you need to register a company under Singapore jurisdiction? Choose company name. It will be better to think up 2-3 variants, in case the desired one is unavailable because this name is already taken. The postfix of the company is usually PTE. LTD., but PTE is also possible. LIMITED, PRIVTE LTE. and PRIVATE...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank: