Taxation: Tax on profit: 8.5%, if annual profit exceed 300 000 SGD corporate tax rate equals to 17% Tax on dividends – 0% VAT or GST: 7% with a 0% rate for international services as well as exports of goods
Company formation – Includes:
– Mandatory fees
– Contact person
– Legal address for 1 year prepaid
– Local nominee director (mandatory requirement)
– Delivery
Accounting services (up to 25 transactions per month)
Opening corporate bank account in online payment system
Crypto license
• Business plan
• Preparation of Anti-Money Laundering policy and all required documents
• Risk assessment
• Correspondence with MAS
• Legal advisory
• Mandatory fees
• Applying for the license
Total cost for the project
– Company formation with mandatory fees and contact person
– Legal address for 1 year prepaid
– Local nominee director for 1 year prepaid
– Accounting Services for 1 year prepaid
– Opening corporate account in crypto-friendly bank
– Drafting all documents required for the license
– Preparation of Anti-Money Laundering policy according to new guidelines
– Applying for the license with mandatory fees included
– Representation during the registration process
– Assistance with searching and hiring required employees with relevant educationand experience
– Legal assistance during within the project
Company formation – 3-4 weeks
License obtainment – from 6 month
1. Copy of passport
2. Proof of address (Utility Bill; Driver’s License; Bank Statement)
3. Power of attorney
4. Non-Criminal record for shareholders
All the above-mentioned documents should be notarized and apostilled and sent to us by DHL for remote registration.
Physical office (required) Preparation of stapling documents with legalization Company seal The minimum number of employees who should be in the company:
– CEO
– Chairperson
– AML / CFT compliance officer
– Board of Directors with responsible for appointments, audits, resolution of conflicts and salaries respectively.
There is no direct requirement that employees should local, but it is suggested and can increase chance to obtain the license.
Local Executive Director, Local Compliance Officer, Local Auditor
Assistance in opening corporate account in local bank
• It is possible to open bank account for crypto activities in local bank of Singapore once license is obtained.
With our service, we can get the process started ASAP.
Get in touch with us!
