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Singapore cryptocurrency license

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Obtaining a cryptocurrency exchange license in Singapore in 2020

Advantages of obtaining a license for conducting cryptocurrency activities in this jurisdiction:

  • High level of economic development;
  • The rapid development of the FinTech sector and the introduction of innovative technologies;
  • No requirements for the contribution of the authorized capital;
  • The ability to conduct activities related to the use of tokens;
  • A relatively fast process for preparing documents.
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Over the past years, Singapore has been actively developing in the cryptocurrency sphere. This jurisdiction can be noted as one of the most loyal, if you are thinking about opening a Singapore cryptocurrency exchange. Among many licenses in Singapore, today, we will be able to suggest, how to obtain a license for the exchange of cryptocurrencies in Singapore (Money Changing and Remittance Businesses). This license provides the opportunity to create a currency exchange platform for third parties.

The assistance in obtaining a license for the exchange of cryptocurrencies in Singapore implies clarification of the mandatory conditions

For various types of licenses in Singapore, their requirements for a minimum authorized capital are determined. An entrepreneur, wishing to obtain a cryptocurrency exchange license in Singapore, will not contribute any registered capital. After all, there are no requirements for a minimum amount of capital.

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The cost of registration includes:
  • A company opening on our nominee shareholder and our director - residents of Singapore.
  • Registering a business in Singapore.
  • A payment of fees.
  • Translation services, a meeting at the airport.
  • Obtaining a license for the exchange of cryptocurrencies in Singapore “Money Changer's license - MCL”.
  • A submission of documents from an authorized person.
  • A transfer of ownership of the company.
  • An opportunity to open an account with a local bank in Singapore. But, the decision to open an account with a Singapore bank is made by employees of your chosen financial institution in Singapore. IQD Consulting competent lawyers only provide assistance at all stages of registering the Singapore account.
  • The conducting an audit.
  • A consultation on AML drafting.
  • The ability to connect to acquiring.
  • For additional services there is a website, as well as software.

We also provide our services to customers, who, already, own a company in Singapore, that requires only licensing. Specify the price at our lawyers.

A license for a cryptocurrency exchange in Singapore is necessary for registration for entrepreneurs, who plan to deal not only with cryptocurrency, but also tokens. A cryptocurrency exchange licensing in Singapore is not licensed.

Terms for obtaining a license for the exchange of fiat currencies in Singapore takes from 2 months.

IQD Consulting lawyers follow all news, related to cryptocurrency. We will provide you with full legal support in opening of cryptocurrency exchanges in Singapore, as well as assistance in obtaining a license for the exchange of fiat currencies in Singapore.

The cost of support services for opening a company and obtaining a license for a crypto exchange in Singapore is approximately 20,000 EUR.

  • The information outlined in the article is actual at the time of its publication.
  • Please refer to our specialists for checking possible solutions for your business.
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