Open an NFT game company - blockchain game in Singapore or BVI?

Currently, blockchain technology and the Non-fungible token (NFT) platform have been significantly impacting many different fields, most notably the video game industry. However, accessing the blockchain game - NFT game player market and international investment capital resources has never been easy for start-ups in this field. The operating environment lacking many professional gamers and lacking blockchain/NFT-focused development companies is not an ideal development condition for blockchain game - NFT game start-ups. Therefore, many start-ups and SMEs have established foreign companies, specifically in BVI and Singapore to develop their business.

So:

Job Open an offshore company in BVI or Singapore company registration What will contribute to the success of a blockchain game design and development business - NFT games?

Singapore and BVI: Which is the right solution for the business and effective operation of blockchain game businesses - NFT games?

To answer the above questions, stay tuned for the next content of GLA!

1. Should I open a blockchain game company - NFT game in Singapore or BVI?

The widespread popularity of blockchain games and NFT games (such as Axie Infinity, CryptoKitties, Decentraland, etc.) has become one of the typical case studies for the development of the NFT trend. The beginning of these successes largely comes from the establishment of companies in countries that provide strategic business advantages for blockchain game companies - NFT games such as Singapore or offshore countries such as BVI, Belize, etc. So should blockchain game companies - NFT games establish companies in Singapore or open companies in BVI?

The following table summarizes the advantages and disadvantages, the main factors that a blockchain game development company - NFT game should pay attention to when deciding to invest abroad, raise capital to develop business.

2. What will GLA do to support blockchain game companies - NFT games?

As a strategic consultant for many international businesses, GLA will support blockchain game companies - NFT games:

• Consulting on suitable solutions for opening foreign companies: GLA experts will analyze the requirements and business models of blockchain game companies - NFT games to advise the MOST SUITABLE - MOST ADVANTAGEOUS country for the business - investment problem of the enterprise.
• Consulting on establishing a company in Singapore or opening a company in BVI: With a team of consultants in Singapore and Vietnam, the process of opening a company in Singapore/BVI can be significantly accelerated without the need to be physically present in Singapore/BVI to open the company.
• Support for opening a corporate bank account in Singapore: This is an important and difficult step to implement because the regulations of banks in Singapore are quite strict, especially for businesses developing games, technology, especially blockchain technology. In addition to supporting businesses in preparing documents and information for interviews with bank staff, GLA also diversifies consulting methods to support businesses in successfully opening payment accounts.
• Support in making financial reports for companies in Singapore and reporting on the nature of business activities for offshore BVI companies: This is a mandatory requirement to operate a Singapore/BVI company long term, but not all businesses can do it because:
  • Financial reporting standards - Singapore's accounting standards are not the same as Vietnam's accounting standards;
  • The BVI offshore company nature of business reporting standards include many complex regulations.

→ Therefore, GLA with accounting experts who are knowledgeable about Singapore tax and accounting laws and BVI government regulations can fully support blockchain game - NFT game businesses to complete ACCURATE - COMPLETE - ON-TIME reports.

• Tax consulting and optimization guide for MULTINATIONAL business models: Establishing a company in which country depends a lot on the business orientation and development orientation of each blockchain game company - NFT game. Understanding this problem of businesses, GLA - with experience supporting many businesses in the field of games - software - app development to establish companies abroad and do business effectively - will support:
  • Consulting on optimizing business models between foreign companies of enterprises to optimize with the business problems of enterprises;
  • Consulting on accounting - finance - digitalization solutions to help businesses save management costs but still achieve high operational efficiency

3. Frequently asked questions when opening a blockchain game company - NFT game in BVI/Singapore

With many years of experience in the consulting field, GLA is proud to have supported many businesses from Start-ups to corporations in the top 500 of Vietnam in the process of international integration, and is also a direct partner with many large and reputable banks such as OCBC, DBS, UOB, etc., a partner of international payment gateways such as PayPal and many other partners.

Highlights

• Establishing an NFT game company - blockchain game in Singapore or BVI is an opportunity for game businesses to attract international investment capital and easily IPO. 

• GLA supports businesses in choosing the right country to open a foreign company in line with the company's business orientation.

• GLA supports opening NFT game companies - foreign blockchain games, opening bank accounts, payment gateways and performing full financial reporting, tax and accounting.