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VCC
How To Establish
VCC can exist as an independent entity or as an umbrella entity with multiple sub-funds.
Can Foreign Funds be Re-registered?
Foreign corporate entities established in the form of funds can choose to re-register as VCCs.
Benefits
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Enhanced tax efficiency and operational capabilities.
No requirement to publicly disclose shareholders' registry.
Conditionally exempted from convening shareholder meetings.
Flexibility for investors regarding issuance, redemption, and capital dividend payments.
Eligible for tax incentives schemes in Singapore for funds, such as the Enhanced Tier Fund and Singapore Resident Fund schemes.
Separate assets and liabilities for each sub-fund under VCC.
Use of broader accounting standards for financial reporting to meet global investor needs.
Requirements for VCC
VCC's capital will always equal its net assets, providing flexibility in distribution and reduction of capital.
VCC must appoint a fund manager regulated by the Monetary Authority of Singapore (MAS) to manage investments.
VCC must comply with existing requirements for investment funds under the Securities and Futures Act.
Non-authorised schemes must have at least one Singapore resident director; authorised schemes must have at least three directors.
The company must have a registered office in Singapore and appoint a company secretary.
Audited by a Singapore-registered auditor and submit financial statements in accordance with International Financial Reporting Standards, Singapore Financial Reporting Standards, or US Generally Accepted Accounting Principles.