singapore

Why buy a pre-established crypto company in Singapore?

• Dramatically reduces wait time and allows you to start working a few weeks after the application.
• No issues with opening a bank account for your company.
• No need to apply for additional licenses in this «all-inclusive» deal.

We take our work seriously, and our best experts can consult you regarding our shelf companies in Singapore. So if you are interested, please don’t hesitate to contact our team and get the answers to your questions.

Requirements

Many people choose the more challenging path, so we want to inform you about the requirements for companies that want to get a Singaporean crypto license. They are as follows:

• A shareholder can be a foreigner but at least one of the directors must be a citizen of Singapore.
• The main office must be physically located in Singapore.
• A foreign company must have a local agent.
• Measures for the security of assets, preventing fraud, money laundering, and terrorist financing must be taken by the company, and a detailed explanation must be provided.
• User and employee data must be thoroughly protected.
• Your system must quickly identify customers and report suspicious transactions.

Singapore is known in the crypto world for low taxes, clear legislation, and professional and crypto-savvy staff. The modern banking system and the industry’s support from the government makes this unique jurisdiction even more attractive for crypto companies.

What’s Essential to Know About Cryptolicense in Singapore?

Organizations must secure a specialized license from the Monetary Authority of Singapore to participate in cryptocurrency activities. The license grants them the authority to offer financial services. In addition, a financial advisor license is required for those intending to provide financial advisory services.

Cryptocurrency exchanges must obtain a securities management license, while launching an Initial Coin Offering (ICO) necessitates a license for capital markets services. However, IT companies engaged in exchange services are not obligated to acquire a separate license. Instead, compliance with anti-money laundering requirements set by the Monetary Authority of Singapore governs this aspect.

Although Singapore lacks specific legislation exclusively tailored for cryptocurrencies, the regulator classifies digital assets as securities. Consequently, all cryptocurrency companies, including crypto exchanges, must operate under the Securities and Futures Act (SFA) purview.

Singapore is home to readily available cryptocurrency companies that offer the possibility of providing various crypto-related services. Our package includes the convenience of opening a bank account at no additional cost.

The re-registration process for the cryptocurrency company is quite straightforward, and it’s much easier than registering a company from scratch. We can do it as swiftly as possible, typically within 2-3 weeks.

Unfortunately, in some cases, the workload of the regulatory body in Singapore is high, or they require additional documents. Thus, it may take a little longer. In any case, it’s the fastest opportunity to become an official crypto entrepreneur in Singapore.

«The Lion City» is another name for Singapore, and it stands out as one of the most cryptocurrency-friendly nations, boasting a robust economy and favorable legislation for digital currencies. Cryptocurrencies have gained significant popularity within Singapore, and local banks are keen to facilitate transactions for crypto companies, growing confidence in their payment processes.

The Cryptocurrency and Blockchain Industry Association (CBIA) in Singapore actively supports the growth and development of crypto enterprises. Additionally, the government plays a crucial role by spearheading initiatives that leverage blockchain technology for payment solutions and the tokenization of securities.