How to operate ICO legally has always been the focus of attention in the industry.

Today, we will talk about the concept of dual structure of BVI Company and Singapore Foundation. The dual structure is not unfamiliar to many people, but in fact many people may not be particularly familiar with the project development in the ICO field.

First of all, let me talk about BVI company in the dual structure.

Brief introduction of BVI company

As we all know, 130, BVI is one of the fastest-growing overseas offshore investment centers in the world 9370. The company registered here is called BVI Company, which is often found in the VIE trading structure listed overseas or in Hong Kong. According to the laws of the island, all companies incorporated in the island are exempt from all taxes except the statutory annual registration fee (very small). Many internationally renowned large companies have set up tax avoidance companies on the island for tax avoidance operations and carried out complex international tax avoidance business activities. This information is confidential and cannot be checked. This is one of the preferred structures for investors and project parties.

Brief introduction of Singapore foundation

With the rise and maturity of blockchain technology, new words such as Bitcoin, Biyuan Chain and ICO constantly refresh market awareness. Cryptographic currency is like a new continent, which instantly becomes a blue ocean market. Many enterprises and individuals rush in and get rich overnight.

In Singapore, an open country, as the largest financial center in Asia, Singapore's highly enlightened policy on blockchain and virtual currency has become the best choice for blockchain and ICO development industry registration. In addition, Singapore's laws and regulations support the issuance of projects in the form of foundations.

Advantages of establishing a compliance framework:

1.？ BVI Company can keep it completely confidential, and any third party individual or institution has no right to inquire about BVI shareholders;

2.BVI Company and Singapore Foundation have double tax avoidance effect to hedge the influence of Singapore's tax policy changes on the Foundation;

3? Using the BVI framework, different Singapore foundations are authorized to manage ICO projects in different currencies, which operate independently and do not affect each other.

4? The domestic operation team can operate the project technology research and development and team promotion normally and legally, and all overseas ICO projects have been cut off.

5? Based on different laws and policies, the two countries can avoid potential risks to the greatest extent.

The basic idea of building a compliance framework: in two countries, build different legal frameworks, and on the basis of legal compliance, use the specific laws and policies of each country to achieve completely legal, well-organized, clean legal cutting and complete confidentiality.

Basic methods of constructing compliance framework:

1. Register BVI. As an issuer, personally identifiable information is confidential and completely tax-free.

2. Set up the Singapore Foundation (CLG) as the project operator to legally operate the blockchain project and digital currency operation.

3. Only the promotion and technical teams are reserved in China, which is clean and legal, and the operation and distribution are compliant.

Legal compliance of compliance framework construction;

1 legal opinion:? (White Paper Compliance++Token Non-certification Certificate)

Lawyers issue legal opinions to judge whether the tokens issued by the project comply with the relevant laws and regulations of monetary authority of singapore (MAS), especially for projects with dual-currency white papers, which need strict examination by lawyers.

2 government compliance endorsement:? Issue official approval to further strengthen project compliance (provided that legal opinions have been issued).

3 Singapore STO compliance:? In Singapore, assets with securities attributes can be easily met and issued according to the current STO management standards.

Process of establishing compliance framework:

1 Registered BVI Company

2 Registered Singapore Foundation

Issue a Singapore legal opinion.

4 ? ICO distribution

The project party registered a limited liability company in BVI, stating that the main body of the foundation is BVI Company. Then a public welfare foundation (CLG) was established in Singapore, and BVI cooperated, authorized and operated ICO-related projects. Of course, each currency needs an independent foundation to operate, so as to avoid the risks brought by currency trading to the foundation subject. Finally, the Singapore Public Welfare Foundation organized and authorized the domestic marketing team and technology research and development team to carry out project promotion and technology research and development.