Ico Services

Ico Services

Choosing the right jurisdiction to set up your ICO

One of the most important issues to consider is the choice of the most appropriate country to launch your ICO. At Asus Plus we believe Cyprus and Malta offer the ideal jurisdictions to set up a tax efficient structure. Malta embraced blockchain technology from day 1. Also, funds raised through ICO may attract 5% total effective tax in both Cyprus and Malta. This in combination with the tax benefits derived from using a Cyprus Holding company for the two-tier structure in Malta can reduce the effective tax rate to as little as 5%. Both Cyprus and Malta are EU states and of course this gives you and the token subscribers more comfort.


TAXATION OF ICOS 

Then comes the million dollar Question for every ICO. What is your tax exposure on the sale of the Tokens? What are your subscribers’ tax implications on buying and redemption of tokens? Should VAT be applied on the sale of Tokens, do you have a duty to withhold tax on the sale of the token? At AsusPlus we have extensively looked into these scenarios and have developed structures that can reduce the tax of token sale to minimum levels! 

In addition, Cyprus has a very attractive IP Box Regime where 80% of the Qualifying Profits derived from a Qualifying Intangible Asset will be considered as a deductible expense, resulting in a maximum tax effective rate of 2,5%. 

When launching an ICO it is very common to also form an IP. In this respect the ICO can benefit from the provisions of the Cyprus IP Box Regime, thus reducing the effective tax rate to as low as 2.5% and establishing Cyprus as an attractive jurisdiction for such purposes.   


ICO Banking

At AsusPlus we can assist with the opening of a bank account with an ICO friendly bank within the EU or non-EU country.  


HOW ASUSPLUS CAN ASSIST

Our consultants, lawyers and accountants may assist potential ICO organizers on the following, subject to the project evaluation, based on Cyprus Law and Maltese Law:

  • Legal support for ICO procedure;
  • Review and Consultation on Whitepaper to confirm compliance with Cyprus/ Malta Legislation;
  • Classification of Tokens to be issued;
  • Drafting or review and consultation on Terms and Conditions of the token sale;
  • Drafting or review of agreements between issuing company and other entities (if applicable);
  • Drafting of Shareholder(s) agreements(if any);
  • Notification to Authorities re: ICO project (if necessary);
  • Drafting and review of the document listing the Risk Factors (if applicable);
  • Tax Structuring and advice on the ICO Structure;
  • Tax Rulings (if applicable);
  • VAT review and advice on the ICO structure;
  • VAT Rulings (if applicable);
  • Formation of companies to be used in the project;
  • Legal analysis of the Cyprus regulatory framework;
  • Advise on AML, KYC and Compliance issues - preparation of relevant manuals;
  • Advise on Data Protection law issues - GDPR;
  • Technical support on GDPR issues;
  • Tax advisory;


AsusPlus is the reliable service provider you can depend on for planning and guidance from start up to growth and success.

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