Singapore ICO: Advantages
What are the main advantages of Singapore as an ICO jurisdiction?
- Singapore is the leading global prime ICO jurisdiction besides Switzerland and Hong Kong;
- Singapore is a well-regulated international financial center with an excellent reputation, thereby lending credibility to the ICO offering and building investor confidence;
- Access to a large pool of investors across Asia;
- ICOs are not prohibited in Singapore and not regulated by the Monetary Authority of Singapore (MAS), as long as they do not qualify as a security (in which case securities licensing may be required);
- Even in cases where an ICO is deemed a security and may require a prospectus, there are exemptions for smaller offerings in Singapore (for example if it is a private placement offer made to no more than 50 people within a 12 month period or if offer is made to accredited investors etc);
- The MAS regulations and Notice on the Prevention of Money Laundering and Countering the Financing of Terrorism are clear and easy to comprehend and abide by;
- Singapore taxation is favourable to an ICO in Singapore;
- Easy and cost-efficient to incorporate companies in Singapore (Ressos Corporate Services provides a one-stop solution);
- A lot of Singapore Government incentives are available to Fintech businesses;
- MAS approach of focusing on regulating activities surrounding the ICO business instead of the ICO business itself reduces compliance/operating cost significantly.