Singapore blockchain
Singapore: digital currency exchanges need to apply for a license to operate in compliance with regulations. Souwei can develop Singapore blockchain digital currency exchange xrv522 , Singapore's minister of ecation ong Ye Kung said on behalf of the Singapore Monetary Authority (MAS), MAS will consult relevant instries in the near future, and formally introce the implementation measures and exemption provisions of the bill. This bill will directly affect many digital currency exchanges, wallets and OTC platforms in the Singapore market, and will comprehensively supervise the related businesses from the aspects of risk control and compliance
as an international financial center, it will not oppose any currency, even the virtual cryptocurrency
this feature also occurs in Hong Kong, the United States, Japan and other areas with relatively open finance. The more open the finance is, the more tolerant the virtual currency is.
As the activity center of Asian blockchain trade, Singapore has become the third largest country of ICO projects in the world. Singapore's policy and attitude towards ICO: in the environment that many countries around the world have not yet made clear their supervision of blockchain and cryptocurrency, and the central bank has once again issued a voice that is still strictly prohibited, Singapore seems to be a hot spot for the development of blockchain. As the most digital currency friendly country in Asia and the third country in the world in ic0 financing, The Singapore government supports the blockchain technology behind the token and its development potential, but does not support it as a circulating currency or an investment asset at present
MAS in Singapore has been paying close attention to local financial technology including blockchain and token, and has continuously issued various regulatory measures and risk warnings to investors. At present, MAS has issued two new laws, which include both non security and security token into the regulatory framework. First, the regulatory framework will include the securities cryptocurrency trading platform into its regulatory framework to cater for the emergence of a new trading platform business model; The second is the "Payment Services Act", which will bring other non securities cryptocurrency trading platforms into its regulatory scope and require the platforms to take preventive measures against KYC, AML and CFT
ways of ICO project compliance:
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the advantages of the registered entity [Singapore foundation] are: (1) the foundation has no shares or shareholders, so it can't pay dividends. Therefore, the funds raised by the blockchain are managed by the foundation and will be used for the project completely, and will not be shared by members 2) The foundation has a tax exemption policy. As long as there is no cash or surplus at the end of the year, there is no need to pay tax. It's a zero tax return. Therefore, the Singapore foundation is the preferred entity to issue tokens for financing. It is also an organization with credibility in the world. The supporting legal documents issued by Singapore lawyers guarantee the non securities nature of the token issued by the project, and file the project with the government in the name of lawyers
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legal compliance: the supporting legal documents issued by Singapore lawyers guarantee the non securities nature of the token issued by the project (audit white paper), and file the project with the government in the name of lawyers. 3. Operation and audit implementation of the foundation
Singapore regards the development of blockchain technology as the top priority of the country. According to the law, "public guarantee company limited" is established for non-profit purposes, and its members are responsible for contributing assets to the company. It can be seen that ICO foundation is supported by policies in Singapore. Singapore is the center of Asian blockchain, the most popular settlement area, and the government has a clear regulatory attitude towards ICO Close to China, open and friendly policy, shape corporate public image, provide financial support for enterprises, reasonable tax avoidance
1. Provide at least three members, including ZhuoZhi, director of Singapore, and the other two members provided by customers themselves
2. Company name, in all capitals, ending with Foundation Ltd.
3. Registered address: provided by ZhuoZhi
4. Registration time: 10-25 working days
1. Fill in the public welfare foundation (LTD) registration form,
2. Fill in the public welfare foundation (LTD) Name: XXX Ltd
Singapore has laws and regulations that the public welfare foundation (LTD) name must meet the market uniqueness, so it is better to give three public welfare foundation (LTD) names, and we will start to register from the first name, for example: XXX Foundation Ltd, If the conditions are not met, we will choose to use the second one, and so on. If none of them can be used, we will propose to choose a new name
3. Fill in the operating business of Public Welfare Foundation (LTD).
according to Singapore law, each public welfare foundation (LTD) can register up to two operating businesses. Of course, one operating business is also allowed, because the Singapore government has stipulated various types of business, so you can provide the content of our business, and we can help you choose a similar established business, We will not register until we confirm with you, or you can choose from the following common business and business supplements:
4. If our company provides the address, the registered address does not need to be filled in
5. Fill in the details of directors / members:
directors are defined as corporate persons. According to Singapore law, each foundation needs to provide at least 2 legal persons, including local legal persons, We require the applicant to provide at least two foreign legal person information, which will be described below. The definition of a member is a registered member of a public welfare fund. Applicants need to provide at least two foreign members. Of course, the former two foreign legal persons can also serve as members. Because it is a non-profit organization, members need to guarantee a certain amount in the process of registration. It is suggested to guarantee S $1 at the beginning, and then increase according to needs. Finally, you need to fill in the personal information of each legal person or member. Please fill in the passport number for the certificate number.
1. If the profits from offshore business are not remitted into Singapore, there is no need to pay any tax. Only annual statements and accounts audited by local accountants are required every year
2. If the annual revenue of a private company does not exceed S $5 million, the accounts of that year need not be audited
3. Signing investment and double taxation protection treaties with many countries< No foreign exchange control, easy to raise funds< 5. Stable political, economic and trade environment
2. Conditions for registering a blockchain company in Singapore
1. The name of a blockchain company must be in English and can only be registered in English. The company type is generally a limited liability company, ending with Pte.Ltd
2. Directors and shareholders: provide scanned copies of ID cards or passports of directors and shareholders, with at least two directors, one of whom is Singaporean
3. Registered capital: there is no need to verify the capital. The minimum amount is from S $1 and the maximum amount is unlimited; Several shareholders need to provide the share proportion
4. Registered address: the local registered address in Singapore, which can be provided by us
5. Business scope: at most 2 business items can be selected, one item corresponds to one code
6. The company's legal secretary can be provided by us
3. The process of Singapore registered blockchain companies
1. Singapore company name search (generally three company names are prepared for search to avoid plicate names)
2. Provide the information needed for the above registered Singapore companies<
3. Sign the agreement of entrusting the registration of Singapore company
4. After the registration, get the information of the registered Singapore company