Hedge Fund Incorporation

[erlich721]

Hello everyone,

Great forum, lots of knowledgeable people on here.

I've been reading up on this topic for the past few months from a wide variety of resources including Singapore incorporation service websites to videos by digital nomad consultants and forums like this one.

I am looking to incorporate a hedge fund that deals exclusively with cryptocurrency. Before you jump at saying that it's dangerous and that I'm a scammer, the business model of my idea is to provide services to private investors only. Just people I know that have asked me to do this for them in return for a cut. Not looking to advertise to retail.

I know that there are many cryptocurrency projects incorporated in Singapore. I have contacted several law firms and incorporation services but they seem to be either unaware of how to fit the cryptocurrency element into the operational structure or they want to charge exorbitant fees to consult legal experts before they proceed with incorporation (was quoted 20k for legal consultation and 50k for incorporation). I am still looking to get more opinions on how to proceed.

Does anyone here have any recommendations where to look for a tax lawyer who has experience structuring and compliance of this sort of thing? I don't mind if it's expensive, I just want the peace of mind that I am dealing with experts.

[sundaymorningstaple]

There is a pong to this post. - moderator

On the one hand, OP knows "there are many cryptocurrency projects incorporated in Singapore".

But on the other hand, "law firms and incorporation services seem to be either unaware of how to fit the cryptocurrency element into the operational structure"

Add to that "they want to charge exorbitant fees to consult legal experts before they proceed with incorporation"

But in the end OP says....."I don't mind if it's expensive, I just want the peace of mind that I am dealing with experts."

tic...toc...tic...toc...
moderator

[erlich721]

I don't understand what you are trying to say with your cryptic message.

There is a pong to this post. - moderator

On the one hand, OP knows "there are many cryptocurrency projects incorporated in Singapore".

And?

But on the other hand, "law firms and incorporation services seem to be either unaware of how to fit the cryptocurrency element into the operational structure"

Add to that "they want to charge exorbitant fees to consult legal experts before they proceed with incorporation"

If they are trying to consult legal experts while touting themselves to be experts, then they are obviously not experts or else they would not charge to consult them.

But in the end OP says....."I don't mind if it's expensive, I just want the peace of mind that I am dealing with experts."

tic...toc...tic...toc...
moderator

I have no idea what this is supposed to mean.

[sundaymorningstaple]

If there are many already incorporated in Singapore then obviously there are experts already here who know how to set it up. Maybe you aren't talking to those who know. I cannot believe those already set up were able to do it without any legal help and if they did, maybe you are not contacting the right legal experts. On the one hand you are complaining about their charges and on the other hand saying you don't mind if it's expensive. How do you know you dealing with experts? Obviously they should have client lists of satisfied clients in your requested area.

[erlich721]

If there are many already incorporated in Singapore then obviously there are experts already here who know how to set it up. Maybe you aren't talking to those who know. I cannot believe those already set up were able to do it without any legal help and if they did, maybe you are not contacting the right legal experts.

Right, but that's what I'm asking in my OP. I'm looking for guidance on how to find the right legal experts.

On the one hand you are complaining about their charges and on the other hand saying you don't mind if it's expensive.

No, you misunderstood me. One of the lawyers I contacted wanted to charge me for consulting external legal experts on hedge fund incorporation alone. And that is a bit of a red flag. I want to pay someone who has experience, not someone who will need to contact other legal experts every step of the way.

How do you know you dealing with experts? Obviously they should have client lists of satisfied clients in your requested area.

I haven't been able to find lists of satisfied hedge fund incorporation clients.

[PNGMK]

Speak to MAS, they may have some ideas and guidance .

[Myasis Dragon]

Hello everyone,

Great forum, lots of knowledgeable people on here.

I've been reading up on this topic for the past few months from a wide variety of resources including Singapore incorporation service websites to videos by digital nomad consultants and forums like this one.

I am looking to incorporate a hedge fund that deals exclusively with cryptocurrency. Before you jump at saying that it's dangerous and that I'm a scammer, the business model of my idea is to provide services to private investors only. Just people I know that have asked me to do this for them in return for a cut. Not looking to advertise to retail.

I know that there are many cryptocurrency projects incorporated in Singapore. I have contacted several law firms and incorporation services but they seem to be either unaware of how to fit the cryptocurrency element into the operational structure or they want to charge exorbitant fees to consult legal experts before they proceed with incorporation (was quoted 20k for legal consultation and 50k for incorporation). I am still looking to get more opinions on how to proceed.

Does anyone here have any recommendations where to look for a tax lawyer who has experience structuring and compliance of this sort of thing? I don't mind if it's expensive, I just want the peace of mind that I am dealing with experts.

The incorporating part is easy. Go to https://www.acra.gov.sg/ and hunt down the links for incorporating in Singapore. Be aware that if you are not a Singapore citizen or permanent resident, you'll be considered a non-resident director and subject to certain tax laws that include a 22 percent withholding on all salary and fees paid to you.

Finance is not my specialty. But, here are two sources to begin your education.

This is the act that governs hedge funds in Singapore: https://sso.agc.gov.sg/Act/SFA2001

And this is a pretty decent article from Rivkin that explains most of it: https://www...com/industry-guides/ ... singapore/