Incorporation: 1-2 weeks
Application to MAS: starting from 3 weeks
Minimum paid up capital: £ 1.00
At the present time, Singapore is one of the most dependable authorities to establish cryptocurrency exchanges. During 2014-2018 the national regulator (MAS) published statements revealing its place in relation to the cryptocurrencies, running the ICO, as well as permitting the cryptocurrency exchange in Singapore. It is helpful for those who promote the exchange of cryptocurrencies that the MAS objected control of cryptocurrency exchange and receiving a license in Singapore. The governor concentrates on the fact that the exercise, which is not associated to securities, is not subject to licensing.
Those who desire to open a Singapore company in the cryptocurrency area must first file one of the types of arrangements acknowledged by the Commercial Law. Following that, a specific license will be needed for financial companies interested in examining the cryptocurrency field. IT organizations can further issue cryptocurrency without appealing for any special privileges with the MAS.
All types of businesses must comply with the anti-money laundering statutes commanded by the MAS in order to preserve the clients and investors in the case of cryptocurrency funds.
If you require to open a cryptocurrency company in Singapore and need support, do not delay to contact our professionals in company formation in Singapore.