Approaching the actors: a sequence

Checklist

A Swiss or German group establishing a regulated digital-asset business in Singapore meets the actors in roughly this order, which should be planned. - Singapore counsel, admitted under the Legal Profession Act 1966, to give the regulatory and corporate advice that only a Singapore-admitted lawyer may give. - A registered corporate service provider and ACRA, for incorporation, the resident director and the register of controllers. - The Ministry of Manpower, for the Employment Pass of the founder or the local chief executive, which MAS will expect to see in place. - A bank, approached with the business plan and the regulatory analysis before the licence application is filed, because MAS asks for banking arrangements in the application. - MAS, through a pre-application meeting and then the application, with the Payments Department or the relevant capital markets department as the counterpart. - IRAS, for an advance ruling if the token or incentive position is uncertain, and in any case for the first corporate tax filing. - The Blockchain Association Singapore, for membership and the working groups. - An external auditor, appointed before the licence is granted, because the first payment services audit falls due within the first financial year.