WHAT IS Variable Capital Company(VCC)
What is VCC ?
VCC is a new Corporate vehicle tailored for INVESTMENT FUND activities . And it was launched on 5 January 2020.
VCC will be govern under ACRA and MAS .
Why to have VCC ?
You must be curious why we need VCC since we already have Pte Ltd, Patnership, LLP in place ? what so special about VCC?
One of the key benefit incorporate VCC is :
The used of Umbrella StructureVCC is allowed to have different sub fund to share the same board of director, company secretary, auditor
Some other Benefit
- can used for different fund strategies : Open ended, closed ended fund, retail finds
- allowed to dispense off holding of AGM
- no need open Register member for inspection
- able to pay dividend out of capital
- eligible for tax incentive
- no capital maintenance requirement
- Redemption shares is allowed
- at least 1 local resident director
- Company secretary
- Fund Manager under MAS license
To help the initial setup, government had introduce Variable Capital Company grant scheme