A cryptocurrency business is a profitable activity. Registering an ICO company and opening a bank account for ICO are frequent requests from YB Case customers.
Our lawyers studied this issue for a long time and found several solutions:
1. Australia
You can register an ICO company in Australia. Australia is a country, in which cryptocurrency activities are not prohibited. Only a high tax rate can stop an investor in working in this jurisdiction, but our company offers an option to reduce it as much as possible:
- to set up a company in Australia;
- to open a bank account in Australia;
- to register a company in a tax-free zone;
- to open an account for a company, registered in a tax-free zone.
This scheme will provide you with the opportunity to open a company for ICO in Australia with a minimum tax rate. You can also open a bank account for Bitcoin.
2. Switzerland
Switzerland is called a “crypto valley”. At the moment, you can register an ICO company in Switzerland. This requires a Swiss ICO license from FINMA. The regulatory body may also request additional documents (a list of documents is not provided).
We recommend paying attention to the opportunity to become a member of a self-regulatory organization in Switzerland, which will allow ICO activities in Switzerland without a license.
3. Malta
In December 2017, Blockchain Conference was held in Malta, which made this jurisdiction interesting for the registration of Maltese ICO companies.
You can register an ICO firm in Malta. Our lawyers also recommend registering a Maltese holding company.
4. Singapore
In Singapore, a cryptocurrency is subject to government regulation by an organization known as the Monetary Authority of Singapore or MAS, and is subject to securities law. All cryptocurrencies are subject to the requirements of the legislation on combating terrorism and money laundering. If you want to register an ICO company in Singapore to work outside of Singapore, you will need to obtain “capital markets services license” in Singapore to conduct business activities.
5. The Philippines
At the moment, you can register an ICO company in the Philippines, but a license has not yet been entered for this type of activity. Philippine’s law only plans to license this activity. An information has appeared on the Internet, that ICO will be regulated by a license to work with securities. This information is not final and not approved at the state level in the Philippines.
6. Estonia
At the end of 2017, the information appeared, that Estonia recognized a token as a financial instrument. Estonia is already actively obtaining licenses for exchange of cryptocurrency, it is also possible to open an ICO company in Estonia.
7. USA
There are 50 states in the USA, and most interestingly, each state has its own laws. For example, you can open an ICO company in Montana, register an ICO in New Mexico or set up an ICO company in North Carolina and work without a license, but if your company wants to work in other states, find out more about the working conditions, as in each state they are different.
The cheapest option would be to establish an ICO in Hawaii, since a state license fee is 3,000 USD/year. Each state for official work in it, requires its own license, so a price of business can be incredibly high. If you want to register an ICO company in the USA, we will find the best option for you after receiving details about the territory of your activity.
8. Japan
Japan can be described as a country, whose inhabitants are inclined to choose cryptocurrency exchanges to preserve and also increase their capital.
In this state, Bitcoin is considered legal tender. If you decide to register an ICO in Japan, you will need a share capital of $88,000. Cryptocurrency business is strictly controlled by law.
9. Gibraltar
Gibraltar is considered one of the most advanced, when it comes to financial technology and its use. It is now possible to register an ICO in Gibraltar, but licensing of this type of activity has not yet been provided. A financial regulation in Gibraltar is handled by the GFSC, which is now in a process of introducing a license for an ICO in Gibraltar.
10. UAE
A digital currency in Dubai has already captivated citizens. Dubai plans to introduce blockchain as the main currency. Similar innovations are interesting for such a developed state as the UAE, so it is possible to open an ICO company in Dubai.
11. The Czech Republic
The Czech Republic is actively working on introducing cryptocurrency into its legislation. You can obtain a cryptocurrency exchange license in the Czech Republic. This license will provide an opportunity to open a bank account for an ICO company.
12. Liechtenstein
Registering an ICO company in Liechtenstein is a good choice. This jurisdiction provides great opportunities and prospects in various fields. You can register an investment fund in Liechtenstein, open a company for Forex activities and more. It is possible to reduce tax rates to a minimum.
Professional assistance
For qualified support in registering a company for an ICO, contact YB Case specialists. We are actively following innovations in the field of crypto activities.
