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Developing blockchain: how to register a Singapore company

Views:1600Time:2020-06-08

Recently, the release of a major favorable policy has made blockchain a hot topic again. The state will turn blockchain into a national strategy, and blockchain will attract more and more attention of enterprises. However, as a pioneer territory of blockchain technology, Singapore has attracted more and more Chinese enterprises to register Singapore companies.

Registered Singapore company

On the afternoon of October 24, the Political Bureau of the CPC Central Committee conducted the 18th collective learning on the current situation and trend of blockchain technology development. Collective learning emphasizes that the integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation. A number of experts and industry insiders told first finance that China is seizing the runway in the development of blockchain technology. Chinese enterprises are increasingly emphasizing the control of the core "hard technology". From the perspective of government policy guidance, they are also more encouraged to carry out independent innovation of blockchain core technology.

Singapore: the leader of blockchain

As one of the Asian financial centers, Singapore's highly enlightened policies on blockchain and virtual currency have become the most popular blockchain ICO project settlement in the world. At present, Singapore's blockchain industry has entered a period of rapid development. Some experts pointed out in Lianhe morning post that Singapore is expected to form a $200 million to $300 million blockchain market by 2022, with an average annual growth rate of 32.5%.

When Chinese enterprises register blockchain companies in Singapore, they can make full use of the preferential policies of the government and the advantages of Singapore's blockchain environment. When Chinese enterprises go to sea to develop blockchain ICO projects in Singapore, most of them will choose companies registered in Singapore, mainly private company and public company limited by Guarantee, CLG (public company for short).

How to register Singapore blockchain company

Singapore's company registration needs to be registered through an agent holding a secretary license. Acra in Singapore has implemented RFA licensing system for registered Secretary agent since 2015, and conducted annual review on Singapore's companies. The company registration system is strict. Registering Singapore blockchain company through agent is the first step of interest protection.

Any person or company of any nationality may establish a Singapore company, but the company must have at least one director over the age of 18, and the new director must meet one of the following conditions: ① Singapore citizen ② permanent resident of Singapore ③ Employment Permit Holder (permit more than 1 year) ④ basic approved employment permit holder or relative Permit Holder

Precautions for registering Singapore blockchain company

There is no legal entity in Singapore called the so-called "foundation". We usually refer to the registered Singapore foundation as the type of public company.

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 compliance with Singapore regulations;

② . certificate of non securitisation of Token: to prove that the project is non securitized;

③ Compliance of private placement terms: to prove that the fund-raising and sales conducted before the exchange are legal;

④ Compliance of public offering terms: it is equivalent to the commitment made to the majority of investors after going to the exchange to increase the confidence of investors.


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