Singapore offshore crypto-currency company in 2023

Since the inception of Bitcoin in 2009, Healy Consultants has been providing international Clients with simple, practical, low-cost crypto business solutions. One attractive option is a Singapore legally tax-exempt limited company, supported by an international, crypto-friendly corporate bank account.

Why register Singapore offshore cryptocurrency company?

  • A Singapore offshore cryptocurrency company is a tax-efficient, reputable way to access the US$1 trillion global cryptocurrency market;
  • If properly structured, a Singapore offshore cryptocurrency company is legally exempt from i) Singapore corporate income tax and ii) withholding tax and Goods and Services Tax (GST);
  • A Singapore offshore cryptocurrency company can conduct business in Singapore. However, income sourced from Singapore will be subject to Singaporean corporation tax;
  • All Singapore companies must appoint a Singapore resident director. Healy Consultants can provide Singapore resident director services;
  • Under the Payment Services Act, which came into effect in 2020, Singapore businesses issuing cryptocurrencies and digital payment tokens or acting as a cryptocurrency exchange must obtain a licence from Monetary Authority of Singapore (MAS) and comply with AML/CFT regulations;
  • A Singapore LLC carrying out proprietary crypto trade and bitcoin investment only is exempt from cryptocurrency regulatory licensing;
  • For Clients that plan to take on third-party deposits, manage third-party funds as a fiduciary or exchange (financial intermediary), a payment services license or a Singapore Capital Markets Services licence is required;
  • It takes less than one week to register a Singapore cryptocurrency company, without travel;
  • Unfortunately, it is challenging to open a corporate bank account for a cryptocurrency business. Most international banks lack knowledge about crypto businesses, and lack the appetite to understand our Client’s business model, cryptocurrency flows, etc. Consequently, they consider cryptocurrency to be a high-risk business;
  • As a result, our Client must expect i) multiple banks and payment services providers (PSPs) to decline to board our Client’s business and ii) the internal compliance departments of all other banks to complete a thorough, detailed due diligence review of their business. Although we will search for a reputable crypto-friendly international bank account in jurisdictions such as Liechtenstein, Cyprus, Gibraltar and Switzerland, in practice only PSPs are currently onboarding cryptocurrency businesses;
  • Because of the above, our Clients should expect bank account approval to take at least three months from submission of a quality, complete account opening application. See this page re our guaranteed corporate bank account opening or your money back policy.

Our fees

Different Singapore cryptocurrency entity types Cost Draft Invoice
Bitcoin company US$17,253 View invoice PDF
Singapore licensed cryptocurrency platform company US$35,840 View invoice PDF


Contact us

For additional information on our company registration services in Singapore, please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon
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