Credit Token License for ICO Business
With Blockchain technology rapidly being adopted, many existing companies need to be innovative and progressive, to be competitive. By adopting the Blockchain technology, the company is transiting themselves from a centralized paradigm to a decentralized paradigm. Businesses with huge client database such as airlines, e-commerce, and telecommunication are trying to adopt creative way by tokenizing their business. They do that by the issuance of their own coin via Initial Coin Offering (ICO). Their coin is used to to enhance customers relationship platform. The coins could be given to incentivise follow up purchase or as a store value for their future products or services.
For new start-ups with innovative and sound business models, that are related to or within the Blockchain or FinTech spaces, ICO is one of the popular method for them to raise fund. Business models such as token payment system, mobile application credits, building a blockchain-based smartphone app, smart contract on real estate deals and blockchain-based data storage are some of the new breed business models from the Blockchain sphere. These models are ideally suited to use ICO to raise fund.
Labuan Jurisdiction offers Credit Token License to companies who are tapping into the digital space involving blockchain. With this Credit Token License, companies can issue utility tokens via ICO legally. This license also reduce the uncertainty that the crypto investors will feel about their potential into these ICOs. What is important is that start ups who have the license shall be able to operate knowing that they are not in violations of any laws.
For Crypto Exchanges licensed by Labuan FSA authority may also create ICO to raise fund and to tokenise their business economy for their exchange.
Commercial Substance For Taxing Proof Your Labuan ICO Business!
Labuan Jusidiction is in a time zone that is similar time zone to most of the Asia Pacific region. It is easily accessible and affordable. There are plenty of offices, staffs for recruitments, and available of legal professional for ICO companies to comply with CRS (common reporting system) and all other regulations. ICO license holder is required to have an operational office in Labuan with minimum 2 staffs of annual spending of RM100,000. This is one of the licensing condition. However, the company can have it’s Marketing Office can be anywhere in Malaysia.
11 KEY ADVANTAGES LABUAN COMPANY FOR ICO LICENSE
Eligibility To Apply for Credit Token License
- Current business with three (3) years business profitable track record, OR
A new Start-Up with the new business model within the FinTech/Blockchain Technology frame intends to issue ICO.
- Business model eligible for tokenization economy
- Minimum proof of fund USD100,000. Paid-up capital required: RM300,000 after approval obtained
Approval timeline: Approx. 45-60 days. Yearly license fee: USD 13,000.
How To Get Started
Tricor Trustco provides a complete solution for Labuan ICO License application:
- Advisory, crafting Business Plan, Operation System manuals, AMLA/KYC frameworks and all other documents required by the relevant authorities
- Due diligence, preparation of all necessary documents for the application form submission to approval follow-up including arranging an interview with Labuan FSA (if any) and compliance officer qualifying
- Submission and supervise the application process
- Act as your liaison and contact point with Labuan FSA for all correspondence and arrange an interview (if any)
- Track the license approval and attend all queries from Labuan FSA
- Set up the right company structure after approval
- Compliance Operation Reporting
- Bank account set up onshore and offshore
- Operation office set up @ Labuan
- Marketing office set up @ anywhere in Malaysia
WHY TRICOR TRUSTCO for Your LABUAN SET UP?
We are a full-fledged licensed Labuan Trust Company (Trust License No. LT 0034) with a highly experienced team of dedicated professionals handle all license applications. We provide complete “one-stop” solutions in pre-assess, meet, planning, structuring, establishment and corporate service for your Labuan ICO Business, ensuring you get a bespoke service that meets your insurance business needs as well as onwards operation.
Feel free to contact us at +603-2783 9191 (Labuan Division) for an appointment or send us an inquiry on Labuan Company For ICO LICENSE on your eligibility. TRICOR’s One Labuan Platform easy to elevate your Labuan operation efficiently!
Trade Without Barriers
Tap into ASEAN Market Through Labuan
Labuan Blockchain and Crypto
Labuan Wealth Planning
Labuan Tax Matters
We are offshore and onshore business advisory expert to assist you in your business set up in Malaysia!
Get advantage being our clients to have free to access for complete advise from us on latest regulations, updates and requirements for your business and residency opportunities in Malaysia anytime, anywhere!
For everything about business investment in Malaysia for foreigners as well as onshore business business expertise, check out our complete information at www.MalaysiaBizAdvisory.com