It is a well-known fact that the world is just a puzzle of countless countries with their good and bad sides.
Cryptocurrency is very important because it is focused on a subject that everyone has at heart: money.
The well-established crypto business Binance learnt to base its activities in one or several crypto friendly countries, so as to not “put all of their eggs in one basket.”
Nevertheless, as an entrepreneur wishing to launch an ICO, you have the ability to select only one country. The question is which country should you choose to carry out your business?
Malta is one of the best options you can choose. There are several criteria as to why Malta is the best country for the long term and, added to that, an ideal destination to launch an ICO.
A specific and detailed law for: ICO and services providers
The first advice as we learned from the history of crypto, is that the State’s interest for cryptocurrency can easily turn from love to hate. So launching an ICO in a country known as “crypto friendly” but not regulated by specific legislation is definitely not enough.
The USA is currently at the top of countries where substantial funds are raised through ICOs. But the authorities seem to take a strategy of “do first and we will judge after”. Many legitimate ICOs have received heavy penalties for wrongly declaring their token. Scams still collect millions in 2018 in the USA. This lack of regulation, guidance, and supervision of the process of an ICO is just bringing more uncertainty into the Crypto world than making it attractive to investors.
On the contrary, Malta is to this date most probably the only country in the world with such a detailed law covering every aspect of an ICO. It not only guarantees that your ICO will evolve in a safe environment backed up by the Maltese Financial Authorities but it is also a part of a new generation of True ICOs having the trust of their investors.
The Malta Financial Services Authority (MFSA) designates professional people known as VFA agents to guide entrepreneurs in every administrative step of their ICO and to endorse the responsibilities that an ICO meets the legal requirement.
The prestigious title of a VFA agent is only given to a few selected candidates through a rigorous process done by the MFSA. This is made up exclusively of accountants, auditors, lawyers, and corporate service provider firms, these agents are subject to follow a course, sit for an examination and be interviewed by the MFSA to ensure they are fit and proper for the role.
Geographic position, political situation & language:
Malta has recently entered into the cryptocurrency sphere, and has already been chosen by leaders in the crypto Market such as Binance and Okex.
Due to its strategic positions in the middle of the Mediterranean Sea and its appurtenance to the European Union, Malta is a strategic, stable and pleasant location to settle a business.
The English language is an official language of the Island, which is also very beneficial when it comes to foreign investors.
When it comes to Maltese taxation, Malta has a corporate tax rate of 35% with the possibility to apply for a refund subject to certain conditions.
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