Digital currency registration in Singapore
the first batch has not yet come down, and the previous trading platforms are allowed to reissue within the time cycle
but the pass rate is not 100%. Compared with other countries, the audit supervision is relatively strict
and the cycle is very long, and many platform entities have changed to other countries, For example, the United States, Estonia, Australia and so on
token with the Singapore foundation for blockchain registration? Do you use the offshore company to control the Singapore entity or the Singapore entity to control the offshore company
1. The main role of offshore companies in token issuing structure: privacy protection and tax planning; The comparison of the two different holding structures is as follows:
structure 1: Singapore non-profit CLG holding offshore company
structure 2: offshore company holding Singapore PDE Ltd
in structure 2, using offshore main body to hold Singapore private limited company, there is a high risk of being refused to open an account in Singapore Corporate Bank
topic 3: after the issuance of token, How to deal with the problem of capital liquidity? How to deal with accounting and auditing
although Singapore's banks are still in a highly sensitive state in opening bank accounts for digital currency related businesses e to their inability to handle the fixed source of funds, KYC / AML barriers, and MAS's support and encouragement for financial innovation, Singapore is still the most friendly international financial center for digital currency instry among the coastal countries. The main problems of token change in banks are all caused by the unknown large amount of funds recorded in accounts
in the later operation of token issuance, four problems need to be treated carefully
1) the choice of the country where the operator is located: the company tax of the country, the friendliness to digital currency and the policy trend should be considered
2) to open a public bank account, the operator should obtain professional account opening guidance to avoid rejection
3) compliance operation in the process of token realization: it needs a compliant trading partner without regulatory risks to conct transactions, so as to avoid the bank account being closed
4) daily financial and tax work of operation entities: timely obtain professional service guidance, and strictly carry out daily accounting and tax audit report work
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
thank you!
1. Singapore is the blockchain financial market center of the whole Asian region, and it is also the most popular settlement area at present, so the service mechanism is relatively perfect
2. The government has a clear regulatory attitude towards ICO, which makes people feel secure and reliable in investment. As early as last year, acra of Singapore released a lot of information about digital currency. The most important point is that the Singapore monetary authority divides tokens into three types, including payment type, security type and application type. Most of the tokens circulating in the market are application-oriented, It also made it clear that there would be no strict supervision at present
3. 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. Convenient operation, open and friendly policy also attracted most of the project parties
at present, many enterprises set up Foundation Ltd. (Foundation) in Singapore because ICO is a start-up project based on blockchain, which is a new financing mode of digital currency such as crowdfunding bitcoin on the network by issuing digital encryption token
what should foundations do
1. The name of the foundation is in English (ending with Foundation Ltd.)
2. Three board members are required (one member with Singapore nationality is ZhuoZhi * *, and the other two members are independent * *)
3. Registered capital: no capital verification, starting from SGD 1
4. Business secretary of the company: Singapore
5. Registered address of Singapore: Singapore
the advantage of the foundation is that it is a public company, Such companies are non-profit organizations, and each member bears the guarantee liability. Overseas projects of public welfare foundations do not need to pay tax, and the Inland Revenue Department of Singapore will not tax local capital injection and investment.
in order to issue currency, the Singapore foundation needs to prepare for the establishment of the Singapore foundation and the submission of legal opinions on compliance
the requirements for registering a Singapore foundation are as follows:
divided into non-profit public foundation company and ordinary Singapore private limited company
to do projects to issue digital currency, it is suggested that non-profit public foundation company can be used (non-profit can be used as a legal opinion), better customers can make investors trust more easily
our company can do legal and fair documents
1; All capital letters in English can be abbreviated and the suffix is limited company. The middle of the end can be added to establish or fund; One can provide ID card, two need to provide passport address proof, suggest two people
3, registered capital, suggest one new currency, less registered capital can be increased, more registration need to pay tax
4, business scope, within the scope of blockchain, you can choose (two) or more, only two
5, registration time will be displayed on the registration paper, About 10-15 working days
after the annual review, once a year, there will be a new registration paper after the annual review