Singapore

• Developed and balanced regulation in the field of crypto-assets. There is regulation and licensing for payment token providers, as well as for the issuance of investment crypto-assets and related services. Singapore offers a higher level of guarantees and protection of crypto-asset holders' rights and follows the international AML/CFT (FATF) standard.
• One of the leaders in the Asia-Pacific region. The jurisdiction is optimal for entering the markets of this part of the world. Payment token provider licenses have been granted to many international crypto-industry participants: Crypto.com, Coinhaki, Circle, Coinbase, Paxos, Revolut.
• Active role of the regulator. It actively publishes clear and business-oriented guidelines, cooperates with foreign regulators and market representatives. In addition, it operates a regulatory sandbox designed to test innovative business models.
• Access to English law. Companies can take advantage of an efficient legal system and have access to professional courts that rely on international precedents.

• Timeframe for obtaining a license. The process of obtaining a license can take approximately 1 year depending on the complexity and whether the regulator has questions or clarifications, which is above average in terms of time compared to other jurisdictions.
• Singapore resident director and security deposit requirements. At least one of the directors must be a Singapore resident, and in some cases the company must create a security deposit of USD 74,800 to 150,000 depending on the volume of operations.
• There is no specific regulation regarding mining and DAOs. For some, the lack of strict regulations may be an advantage, but for those who value transparency and a clear regulatory framework, the uncertainty can be a major obstacle.

The cost level for legalization in the jurisdiction is high.

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• State duty for company formation: USD 235.
• Authorized capital: varies depending on the type of license from USD 76,000 to 796,000.
• State fee for consideration of application for a license: from USD 750 to 1,200 for each type of payment service.
• Annual state license fee: from USD 3,700 to USD 7,600.

• Filling out the registration form with key information and preparing data for registration.
• Name Reservation.
• Obtaining a tax number.
• Formalization of constituent documents.
• Registration in the commercial register of companies.

• Preparing the main documentation package (including a business plan) and applying for a cryptolicense. 
• Payment of the initial state application fee.
• Regulator's review of the application and interview series.
• Final Approval.