Secretary General of Asian blockchain Society
When it comes to offshore companies, they usually choose to register in the islands. Some domestic giants, such as Ali, tengxu, Shanda network, Xiaomi and Haidilao, set up overseas IPO structures by registering offshore companies in the islands
advantages of offshore companies registered in the islands:
1. Full tax exemption system (only a small amount of annual management fee)
2. Company information confidentiality (high degree of confidentiality)
3. Overseas IPO structure (Tencent, Xiaomi and other domestic giants build overseas IPO structure by registering offshore companies)
4. Freedom of name (Chinese can be added)
5 No foreign exchange control
6, no specific business scope, as long as not engaged in illegal and criminal activities or need to franchise instry
Second, the non-profit foundation of Singapore can issue relevant legal opinions to prove that the operation of the company is in line with the current laws of Singapore The main contents of the legal opinions are as follows:1. White paper modification: the white paper of the project shall be modified where it does not comply with the laws and regulations of Singapore, and a professional legal compliance opinion shall be issued by a lawyer
2. Token non securitization certificate: the lawyer issued a professional legal opinion to clarify in detail that the token issued by the project does not have the nature of securities
domestic companies, named XXX blockchain companies, are no longer allowed to register
Where do you want to register for a foreign company? The cost varies from country to country
or do you want to do a blockchain project and prepare to register a foundation
no wonder no one answers you
Singapore blockchain ICO company
according to the analysis of market results, at present, 70% of the companies registered in Singapore are public companies, and 30% are private limited companies in particular, there is no legal entity in Singapore called "foundation". What we usually call registered Singapore foundation refers to the type of public company Singapore public company: 1. Independent legal entity
3. No shares or share capital
4; Articles of association) to clarify the upper limit of each member's liability
Non profit: initially, it was mainly for non-profit organizations6
the company needs at least 2 company officials. At least one director must be Singaporean or permanent resident (Bajie can provide)
Singapore private limited company:
1. At least one shareholder and at most 50 shareholders can be natural persons and companies
2. At least one local director and one legal secretary (not the same person, Bajie can provide them)
3. Limited liability4
Three years before the establishment of the company, the profits of the first 100000 Singapore dollars are exempt from corporate tax, the tax rate of the company within 300000 Singapore dollars is 8.5%, and the tax rate of the part exceeding 300000 Singapore dollars is 17%is Singapore blockchain ICO a public company or a private limited company? What are the conditions
registration conditions and fees of Singapore public company:
1. Company Name: English only, company type is public guarantee limited company, ending with Ltd. or limited
Registered capital: there is no registered capital, but each member will pay in S $13. Members of directors: the requirements of directors are the same as those of ordinary companies, but there are no shareholders
Registered address: Bajie can provide Business scope: at most 2 main business activities can be selected (generally computer software, network, information technology, etc.) Legal secretary of the company: Bajie can provideregistration time: 4-6 weeks
registration conditions and fees of Singapore private limited company:
1. Company Name: English only, company type is private limited company, ending with PTE. Ltd
2. Registered capital: there is no need to verify the capital. The minimum is S $1, the maximum is S $500000, and the annual fee of Singapore business alliance is required
3. Directors and shareholders: at least one scanning of passport + ID card (address proof) of directors and shareholders shall be provided, and non Singaporean shall register. If an account needs to be opened later, at least two directors (except Singaporean local directors) shall be provided for registration
4. Registered address: local registered address in Singapore (available from Bajie)
Business scope: at most two main business activities can be selected (generally, the business scope of computer software, network, information technology, etc.) Legal secretary: provided by our companyregistration time: usually 3-4 weeks
note: after the registration of general for-profit foundation, there is no need to audit if there is no bank account, while the annual inspection and audit of non-profit foundation must be done every year after the registration
after the Singapore blockchain ICO company established the Singapore foundation, if it wants to issue currency, it will also involve four certificates:
1. White paper compliance: to prove that the projects undertaken by the foundation are in line with Singapore regulations, to prevent MAS (monetary authority of Singapore) investigation, which need to be used when going to the exchange
2. Token non securitization proof: prove that the project is non securitized, avoid causing trouble, and securitization is unable to engage in block chain related business in Singapore
3. Compliance of private placement terms: proving that the fund raising and sales concted before going to the exchange are legal and compliant
4. Compliance of public offering terms: it is equivalent to the commitment made to the majority of investors after going to the stock exchange, increasing the confidence of investors
note: the above certificates can be provided by Bajie Singapore lawyers
On the morning of May 28, a special actor played Mao Zedong to participate in the 2018 Boao Asian blockchain forum. The video was forwarded in the circle of friends. In his speech, the actor said, "I thank you in the name of Mao Zedong.". According to the information of the organizer, the organizing committee includes panda capital and other investment institutions, and the activity is supported by Martian finance and other blockchain media. Beijing News reporter learned that panda capital and Mars finance and economics issued clarification statements afterwards, saying that they did not participate in the activities or cooperate with the forum. At the same time, the Organizing Committee announced that the actor's speech does not represent the organizing committee, but is only a part of the performance
according to the notice on prohibiting the use of the image of Party and state leaders for commercial promotion issued by the State Administration for Instry and commerce, it is prohibited to use and display the image and inscription of Party and state leaders (including those who have left or died) on commodities and their packages, as well as any form of expression involving the name of Party and state leaders; It is forbidden for enterprises to use the name and image of the party and state leaders to carry out any form of commercial propaganda and promotion activities. They are not allowed to use the images and inscriptions of the party and state leaders (including those who have left or died), or use special actors to promote procts or services with the image of the leaders
content source: Beijing News
On the morning of May 28, a special actor played Mao Zedong to participate in the 2018 Boao Asian blockchain forum. The video was forwarded in the circle of friends. In his speech, the actor said, "I thank you in the name of Mao Zedong.". According to the information of the organizer, the organizing committee includes panda capital and other investment institutions, and the activity is supported by Martian finance and other blockchain media. Beijing News reporter learned that panda capital and Mars finance and economics issued clarification statements afterwards, saying that they did not participate in the activities or cooperate with the forum. At the same time, the Organizing Committee announced that the actor's speech does not represent the organizing committee, but is only a part of the performance
according to the notice on prohibiting the use of the image of Party and state leaders for commercial promotion issued by the State Administration for Instry and commerce, it is prohibited to use and display the image and inscription of Party and state leaders (including those who have left or died) on commodities and their packages, as well as any form of expression involving the name of Party and state leaders; It is forbidden for enterprises to use the name and image of the party and state leaders to carry out any form of commercial propaganda and promotion activities. They are not allowed to use the images and inscriptions of the party and state leaders (including those who have left or died), or use special actors to promote procts or services with the image of the leaders
content source: Beijing News
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 companies are divided into two categories, one is ordinary companies, the other is public guarantee companies. Generally, blockchain issuing money will register public guarantee companies, which is commonly known as Singapore public non-profit foundation. The advantages of registering Singapore foundation are as follows:
1. Excellent reputation
the Singapore government has a strict registration approval system for registering Singapore foundation, In addition, at least one local director in Singapore is required as a guarantee, and there is a corresponding strict system for the subsequent maintenance of the foundation, which ensures that the Singapore foundation enjoys a good reputation
2. Non profit organizations do not need to pay taxes
non profit organizations in Singapore do not need to pay taxes
3. The possibility of financing
at present, many enterprises set up Foundation Ltd. (Foundation) in Singapore because ICO is a new financing mode of blockchain based venture project, through the issuance of digital encryption token, crowdfunding bitcoin and other digital currency on the network
4. Convenient operation, open and friendly policy
the flight distance between Singapore and China is about 5 hours, which greatly facilitates the groups who need to do business and trade between Singapore and China
5. Singapore is the center of Asian blockchain and the most popular settlement area at present
6. The government has a clear regulatory attitude towards ICO, which makes investment reliable
new air is coming. There are no big blockchain enterprises in the market. All enterprises are in the initial state, so it is an opportunity for every enterprise. It is suggested to register the Singapore foundation as soon as possible
requirements for registration of Singapore Foundation:
1. Foundation Name: English name (ending with Foundation Ltd.)
2. ID cards of three directors are required
3. Business scope: 62019 development of other software and programming activities n.e.c.
62022 software consultation
4. Registered capital: no capital verification, minimum S $1, no maximum limit
5. Company Secretary
6. Registered address in Singapore
7. Registration time: 10 to 25 working days
documents obtained after registration:
complete documents include: Registration Certificate (which is equivalent to business license), registration paper, articles of Association, official seal, steel seal, legal documents, announcement of company establishment, announcement of registered address, authorization documents of new party's registered directors There are 14 authorized documents of the new party's commercial secretary, the first board meeting, CD-ROM, folder and document box
to register a foundation is only the first step, and then we need to carry out legal compliance. Legal opinions are required for blockchain trading. This is also to comply with the existing laws and regulations and prevent MAS (supervision by the monetary authority of Singapore).