Singapore

• Well-developed and balanced regulation in the field of cryptoassets. Regulation and licensing of the activities of payment token providers, as well as for the issuance of investment cryptoassets and related services. Singapore offers a higher level of guarantees and protection of the rights of cryptoasset holders, as well as follows the international standard AML/CFT (FATF).
• 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 providers' licenses have been received by many international participants in the crypto industry: Crypto.com, Coinhaki, Circle, Coinbase, Paxos, Revolut.
• Active role of the regulator. He actively issues clear and business-oriented guidelines, cooperates with foreign regulators and market representatives. In addition, there is a regulatory sandbox, designed to test innovative business models.
• Access to English law. Companies can take advantage of an effective legal system and gain access to professional courts that rely on international precedents.

• License issuance time. The process of obtaining a license can take approximately 1 year, depending on the complexity and the presence of questions or clarifications from the regulator, which is higher than average in terms of time.
• Requirements for the presence of a director with Singapore residency and a guarantee deposit. At least one of the directors must be a resident of Singapore, and in some cases, the company must create a guarantee deposit from USD 74,800 to 150,000, depending on the volume of operations.
• There is no special regulation in relation to mining and DAO. For some, the absence of strict rules may be an advantage, but for those who value transparency and clear regulatory frameworks, uncertainty can be a serious obstacle.

The level of costs for legalization in the jurisdiction is high.

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

• Filling out the registration form with key information and preparing data for registration.
• Reservation of a name.
• Receiving a tax number.
• Preparing the founding documents.
• Registration in the commercial register of companies.

• Preparing the main package of documentation (including a business plan) and submitting an application for the issuance of a cryptolicense. 
• Payment of the initial stamp duty for the consideration of the application.
• Consideration by the regulator of the application and conducting a series of interviews.
• Final approval.