4 countries to incorporate your blockchain/NFT game company today

Non-fungible tokens (NFTs) have captured global investor interest, raking in over $2.5 billion in revenue in the first half of 2021. In the pursuit of digital evolution and global integration, blockchain/NFT gaming entities are actively engaged in attracting increased investments and expanding their player community globally with a foreign company incorporation approach

We have compiled a list of 4 ideal countries to incorporate your blockchain/NFT game company today. This guide can help you determine the best-suited nation for registering your company to achieve the goals above.

1. Where to open a company for blockchain/NFT game businesses?

The blockchain gaming industry is relatively new to both gamers and investors, lacking in plot, game mechanics, visuals, and sound when compared to traditional games. Most blockchain games are crafted by small, independent teams, making it challenging for them to compete with established gaming companies when entering new player markets or seeking global investment.

To address these challenges and capitalize on the commercial advantages in different countries, we suggest these 4 countries register blockchain/NFT  gaming companies for you: Singapore, Delaware (The US), Hong Kong, and BVI.

1.1. Singapore company registration

Setting up a company in Singapore offers numerous advantages for blockchain game firms and NFT businesses. Singapore stands out as an attractive destination for multinational enterprises and startups due to various reasons:

• Attracting Foreign Investment: Singapore boasts a record of attracting substantial foreign investment, with a 15% rise in Foreign Direct Investment (FDI) in 2020, reaching $92 billion. The nation's favorable tax policy, with 0% capital gains tax, makes it highly attractive for businesses compared to neighboring countries such as Vietnam (20%), Malaysia (30%), and Thailand (15%). Furthermore, the incorporation process in Singapore offers ease in capital changes, shareholder additions, and capital transfers to subsidiaries.

• Expanding Business Market and Brand Value: Establishing a blockchain/NFT game business in Singapore contributes to enhancing global brand value. This, in turn, attracts investment from firms in other countries and serves as a strategic move for future business endeavors, fostering a professional brand image.

• Partnerships with Major Digital Businesses: Working directly with major digital entities like Google Singapore and PayPal Singapore expedites business operations, facilitating transactions and payment processing with gamers globally.

• Clear regulatory environment: The Monetary Authority of Singapore (MAS) has begun to explore enabling the execution of legislation governing the issuance and use of cryptocurrencies, which has been in existence since 2017. The Singapore government has now created a regulatory framework for individuals interested in establishing cryptocurrency funds for Initial Coin Offering (ICO).
• Corporate Income Tax Benefits: Companies in the blockchain gaming and NFT sector in Singapore enjoy corporate income tax rates as low as 17%, which is particularly advantageous in the current scenario where global tax rates are evolving under the Global Minimum Tax policy. Additionally, new enterprises benefit from significant tax breaks,
  • The first $100,000 of normal chargeable income is exempted at 75%, lowering the effective tax rate to 4.25% on the first 100,000 SGD of chargeable income; and
  • The next $100,000 of normal chargeable income is exempted at 50%, lowering the effective tax rate to 8.5% on the next 100,000 SGD of chargeable income.

1.2. BVI company incorporation

The British Virgin Islands (BVI) has gained recognition as a prime location for holding businesses globally. Here are the advantages of registering a blockchain gaming firm or NFT games in the BVI:

• Tax Benefits: BVI corporations enjoy complete tax exemption on all types of income, including dividends, interest, rent, royalties, and other corporate payments, along with income generated from stocks and bonds.
• Access to Foreign Investment Capital: Establishing a company in the BVI allows blockchain gaming enterprises to operate without conducting business in the territory. Companies can easily merge with foreign entities, attracting more investment capital and enhancing the possibility of issuing shares on foreign stock exchanges like the Hong Kong Stock Exchange, the London Stock Exchange, and the New York Stock Exchange.
• Absolute Corporate Information Privacy: Companies formed in the BVI are not obligated to disclose information regarding company directors/shareholders or share details publicly. This level of confidentiality makes BVI a preferred option for corporations worldwide to safeguard valuable assets such as game development concepts and intellectual property rights.

1.3. Hong Kong company formation

Hong Kong, recognized as the "World's Freest Economy," offers an advantageous environment for the growth of overseas enterprises. Setting up a blockchain gaming firm or NFT games in Hong Kong provides significant benefits, including:

• Robust Legal Environment: Hong Kong is renowned for its respected international arbitration center, making it an excellent place for dispute resolution. The jurisdiction ensures stringent control over intellectual property rights (IPR) related to patents, copyrights, trademarks, etc., safeguarding the interests of foreign companies and investors looking to establish their businesses in the region.

• Economic Freedom: Unlike many other Asian nations, establishing a corporation with 100% foreign capital is relatively straightforward in Hong Kong. There are no restrictions on investment flows, no foreign exchange controls, and no barriers to foreign ownership. This makes Hong Kong an ideal commercial location for blockchain/NFT game businesses aiming to set up subsidiaries with full foreign capital.

• Favorable Corporate Income Tax: Hong Kong boasts a flat tax rate of 16.5%, which is advantageous in the current global scenario of altering national tax rates due to the Global Minimum Taxation policy. Additionally, Hong Kong operates under a territorial tax system, exempting profits earned outside the jurisdiction from taxation. If a company in Hong Kong generates revenue outside the region, it is not subject to tax on those profits, regardless of whether they are transferred to Hong Kong.

1.4. Delaware Company Registration

Despite having less than 900,000 residents, Delaware is home to over a million business entities, including behemoths such as Facebook, Coca-Cola, Ford, Amazon, Google, Walmart, and others. With the above amazing results, Delaware has emerged as an appropriate location to register a corporation for blockchain/NFT game businesses in the U.S, owing to the following exceptional benefits:

• Market Expansion and Brand Enhancement: Creating a corporation in Delaware provides access to the large player market within the United States, boosting the global brand value of the blockchain gaming company. This positioning lays the groundwork for future objectives such as Initial Public Offerings (IPOs), distributing game titles on app marketplaces like the Apple App Store and CH Play, and establishing international payment accounts.
• Favorable Corporate Income Tax: Delaware does not impose corporate income tax or tax on interest and earnings from investments. This tax-friendly environment has attracted numerous businesses aiming to minimize costs.
• Clear Regulatory Framework on Blockchain: The United States is swiftly legalizing decentralized finance, cryptocurrencies, and blockchain technology, offering new prospects for blockchain/NFT game businesses seeking to establish a presence in the country.
• Business-Friendly Climate: Delaware's business legislation is highly flexible, offering perks such as allowing individuals to hold various roles within a company, adaptable laws and articles of organization based on directors' choices, and strong measures to safeguard owner information.

2. How can we help you register your blockchain/NFT gaming company?

Global Link Asia Consulting, as your trusted one-stop corporate service provider helping hundreds of business owners start their businesses overseas and manage their companies with success, can help you

• Register a company in 10 countries;
• Open a corporate bank account with a 99% success rate;
• Choose the right company types for tax optimization;
• Apply for NFT business licenses;
• Get an affordable, professional registered office address for business;
• Support to open, authenticate, and manage Stripe Paypal Business in Singapore, Hong Kong, and the U.S;
• Handle all your tax accounting needs, timely annual filings, auditing, and more.

3. FAQs about blockchain/NFT gaming company incorporation

With over a decade of experience serving as a trusted partner to more than 750 business owners seeking professional development and breakthroughs in the international market, we are an  expert strategic corporate service provider helping you incorporate and operate successfully in 10 different countries

Our areas of expertise include:

• Strategic Consulting and Company formation in over 10 different countries worldwide such as Singapore, Hong Kong, the U.S., Australia, Thailand, Malaysia, and offshore destinations like BVI, Belize, Seychelles, and more.
• Account opening for personal and corporate bank accounts, as well as setting up PayPal and Stripe gateqays in countries like Singapore, Hong Kong, and the U.S..
• Tax Consulting and Preparation for SFRS IFRS financial reports, corporate income tax returns, VAT/GST (Value Added Tax/Goods and Services Tax), and more.
• Opreation support:
• Registered adress;
• Foreign consular legalization;
• Trademark and patent protection registration in Singapore and the US;
• Employment Pass application in Singapore and Hong Kong;
• Website design, international SIM number provision;
• DUNS registration.

With over 10 years of experience and a team of experts with 5 to 25 years of experience (international standard certifications) as well as direct partnerships with institutions such as OCBC, UOB, DBS, PayPal, and Stripe, we are proud to offer professional, legal, transparent, sustainable services with no hidden costs.

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