Preparing and Conducting ICO in Any Country in the World on a Turnkey Basis | Law&Trust International

How to create an ICO?

After the cryptocurrency boom in 2017, many companies became interested in raising additional funding in such a way as ICO. In fact, this is the IPO analogue, but at the same time, instead of real securities, the investor receives a token and can use a digital asset to sell or pay for the goods / services offered by the platform.

However, it is not enough just to create ICO project; it is necessary to choose the right jurisdiction where to conduct the initial token offering. In many countries, there is no legislation for conducting such offerings, and in some, the digital assets are strictly banned at all. In addition, the ICO must be properly executed so that the supervisory authorities do not have any claims. Law & Trust offers its clients the services for preparing and conducting ICO on a turnkey basis. We will provide the full legal support.

How to conduct an ICO? Legal advice.
How to conduct an ICO? Legal advice.

What Problems Arise While Conducting ICO?

ICO is fraught with a number of difficulties, primarily due to the lack of uniform requirements. The different jurisdictions have different requirements for the companies conducting the initial offering of digital assets. Moreover, this can be done not in all countries, but only in those that have legalized the digital assets. Therefore, each country has its own instructions for conducting offerings, and you need to know about all of its specifics.

The organizations preparing to raise funds by using ICOs need to open a bank account. However, not every bank is ready to provide such a service. When conducting such events the risks are very high, which is why the financial institutions often refuse to provide such services to the clients. In this case, you will need the assistance of a qualified lawyer who will help you to choose a bank and take over the interaction with a financial institution.

In addition, there is no uniform court practice regarding the organization and conduct of ICOs. Therefore, the companies using this method to obtain additional funding or marketing promotion in the market often face difficulties. The courts can interpret the same situations differently, so if you have problems and need to go to court, you cannot do without a competent lawyer.

Top 4 Jurisdictions for Conducting ICO

How to do ICO in Singapore? Legal consulting.
How to do ICO in Singapore? Legal consulting.

Singapore

Singapore is one of the most popular jurisdictions for conducting ICO. The long-term investments in digital assets are not taxed here. The country exchanges the tax information with government authorities of other jurisdictions. However, before conducting ICO, you should consider some nuances:

  • Strict AML / KYC policy;
  • Transactions with digital assets are subject to GST;
  • The sale of tokens to citizens of Singapore is prohibited.

Nevertheless, the conditions for development of blockchain projects are favorable here, that is why Singapore is very popular.




Turnkey ICO in Switzerland.
Turnkey ICO in Switzerland.

Switzerland

Switzerland has passed a relevant law, which defines the legal status of digital assets. The tokens are not recognized as the securities here. There is no need to obtain a license to work with cryptocurrencies, and there are even the banks, which provide services for ICO projects. Before registering ICO in Switzerland, you need to consider the following specifics:

  • High cost of conducting ICO;
  • Strict requirements for AML;
  • Difficulties with registration of a bank account.

However, Switzerland's high standards are attracting more and more ICO projects from around the world to this country.




ICO in China: legal support.
ICO in China: legal support.

China

In this country, the cryptocurrencies are regulated by the local Central Bank - the People's Bank of China. The ICO status is not regulated, however, the initial offering of digital assets is being carried out quite successfully here. Nevertheless, conducting ICO in China is fraught with a number of difficulties:

  • Strict requirements for customer identification;
  • Strict regulation of the sphere of digital assets.

Nevertheless, despite the skepticism about digital assets on the part of the Central Bank of China, the jurisdiction is preparing to issue its own cryptocurrency, which indicates the improvement of attitude towards these assets on the regulator’s part.




ICO in the States: legal advice on conducting.
ICO in the States: legal advice on conducting.

USA

When it comes to the U.S., we mean the state of Delaware, where the conditions for cryptocurrencies are the most favorable in the country. In general, the cryptocurrencies are recognized in this country, but it is necessary to obtain a license for transactions. The tokens are recognized as a security if they do not pass the so-called “Howey Test”. It is quite simple to register a company here. However, before conducting ICO, you need to consider a number of nuances:

  • Delaware is virtually the only state with a loyal attitude towards cryptocurrency;
  • The difficulties arise when opening a bank account;
  • ICO legislation is just being developed.

Law & Trust offers its services to the clients intending to conduct ICO. The specialists of our company will provide all necessary services for the initial offering. You can order ICO on a turnkey basis and get full support from us, including choosing a jurisdiction, opening a bank account, registering ICO, etc. Law & Trust will take all the necessary measures to make the initial offering of your project coins quick and easy.

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