With the trend of blockchain cypto technology development, more and more team are going to develop their own blockchain app and publish to market. As a business, company registration will be the first step, which countries are firendly to register blockchain software development company? We will share you some options today.
Countries of supporting the registration of blockchain development company
Europe
- Malta:
Known as the "Blockchain Island," it has a comprehensive legal framework for the blockchain and crypto industries, such as the Malta Digital Innovation Authority Act and the Virtual Financial Assets Act. It provides a clear regulatory environment for ICOs, exchanges, and other blockchain-related businesses, and the corporate income tax rate can be reduced to 0%-5% according to income and residence.
- Switzerland:
It has a clear regulatory environment for cryptocurrencies and classifies them as assets rather than securities. The "Crypto Valley" in Zug has attracted many major companies like the Ethereum and Cardano foundations. It has an advanced financial trading infrastructure, and private investors are exempt from capital gains tax on personal wealth assets.
- Estonia:
It is known for its advanced digital society and has a precise regulatory framework for cryptocurrencies, requiring exchanges and wallet providers to obtain licenses. Its e-residency program makes it easier for international entrepreneurs to remotely start and manage blockchain-based businesses.
- United Kingdom:
Although its regulations are more ambiguous than those of Malta and Switzerland, the regulatory approach is gradually evolving, aiming to balance innovation and consumer protection, and still presents a promising environment for blockchain projects.
- Austria:
Allows cryptocurrencies as a means of payment and has a relatively friendly attitude towards the crypto industry.
Asia
- Singapore:
It has a strong regulatory framework and no capital gains tax. The Monetary Authority of Singapore provides clear and supportive guidelines for digital assets, and the city-state's pro-business environment and advanced tech infrastructure have made it an attractive destination for crypto companies.
- Japan:
Since 2017, it has recognized Bitcoin as a legal means of payment and has a relatively complete regulatory system for the crypto industry, which provides a certain legal guarantee for the operation of blockchain crypto companies.
Americas
- United States:
Although the policies of each state are different, the overall attitude supports legal transactions. Some states, such as Delaware and Wyoming, have a relatively clear legal framework and regulatory system for blockchain and cryptocurrency-related businesses.
- Canada:
The policy is relatively open, and the regulatory authorities have a certain degree of tolerance and support for the blockchain crypto industry, providing a relatively loose regulatory environment for the registration and operation of companies.
- Brazil: As the main economy in South America, it shows a positive attitude towards cryptocurrencies and has certain regulatory measures and policy support for the blockchain crypto industry.
Others
- United Arab Emirates:
Especially Dubai, which has an open market environment and clearly supports the blockchain crypto industry, has become a pioneer in cryptocurrency and blockchain technology in recent years.
- Australia:
The policy clearly supports the blockchain crypto industry and has a relatively complete regulatory system and legal guarantee to provide a good business environment for the registration and operation of companies.
- New Zealand:
Allows cryptocurrencies as a payment tool and has a relatively friendly attitude towards the crypto industry.
- BVI:
The BVI has the BVI Digital Asset Business Act 2020 and the BVI Virtual Asset Service Providers Act 2020. These laws comprehensively regulate the operation of digital asset businesses in the BVI, clearly defining the licensing and registration requirements, as well as the obligations and responsibilities of digital asset businesses and their employees.The BVI Financial Services Commission is the regulatory body responsible for overseeing the financial services sector in the BVI, including the cryptocurrency and blockchain industry.
- Cayman islands:
The Cayman Islands has the Proceeds of Crime Law (Revised) 2019 and the Digital Currency Business Law 2020. The former provides a legal framework for the regulation of virtual assets in the Cayman Islands, defining virtual assets and setting out the obligations and responsibilities of virtual asset service providers and other entities involved in the virtual asset industry. The latter regulates digital currency businesses, specifying the licensing and registration requirements, as well as the obligations and responsibilities of digital currency businesses.
Conclusion
There are some countries who are friendly to set up one blockchain development company, you can choose the location depends on your budget and other factors. SODA Global Marketing can support most countries business registration service, including USA, UK, Singapore, BVI, Cayman, UAE, Estonia...offering virtual business address, secretary service, registration process support, accounting, Kindly contact us to know more details.
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