Singapore Cryptocurrency License
Singapore is a parlimentary republic and major financial hub in Southeast Asia. It has a highly developed free market economy and is known worldwide for its business-friendly climate. For such reason, businesses in regulated industries have long flocked to Singapore, paritcularly in the financial, cryptocurrency and payments fields.
As a major onshore financial services center, Singapore is widely respected and recognized. The nation boasts a low tax regime on both domestic and offshore profits and a reasoned approach to regulatory fees. As a global hub for financial transactions with an exceedinly stable government, a regulatory license issued by the Monetary Authority of Singapore carries global cache.
Singapore is an ideal jurisdiction for obtaining a digital asset license. The Monetary Authority of Singapore is charged with supervision and enforcement of its Class F Payment Institution License and has been very successful in attracting both high-profile cryptocurrency exchanges and Initial Coin Offerings. As a result, the jurisdiction is held in high regard by blockchain professionals across the globe.
Advantages of a Singapore Crypto License
Average daily trading in Bitcoin alone exceeds $20 billion. The streamlined and cost-effective process in obtaining a Malta cryptocurrency license can place you in this lucrative market in as little as three months. As worldwide adoption of cryptocurrency increases, cryptocurrency exchanges are estimated to have taken in over $1 billion in profits last year alone. With increasingly complex cryptocurrency regulation in leading economic nations such as the United States and European Union, Singapore offers a cost-effective, risk free alternative for starting a licensed cryptocurrency exchange or broker-dealer.
Singapore Cryptocurrency License at a Glance
|Class F Payment Institution
|Time to License
|1 to 2 Months
|Zero (0%) Percent Tax on Offshore Profits
The Singapore Crypto License Package
Establish Singapore private limited company.
Preparation and drafting of shareholder and officer agreements.
Preparation and drafting of narrative business plan.
Preparation and drafting of current financial statements.
Preparation and drafting of 3 years financial projections.
Preparation and drafting of personal financial statements for owners.
Preparation and submission of application with Malta FSC.
Preparation and drafting of responses to Malta FSC.
Identification and engagement of auditor and local representative.
Facilitate opening of bank accounts and trading accounts.
Preparation and drafting of AML/KYC policies and procedures.
Preparation and drafting of client agreements and disclosures.
Contact the Singapore Cryptocurrency License Experts
Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the offshore banking license experts at FinLaw to begin the process of obtaining your Singapore Cryptocurrency license today. Our knowledgeable and skilled professionals are pleased to answer any of your questions.