Singapore introduced an alternative fund framework, Variable Capital Company (VCC), to encourage more funds to be domiciled in Singapore and enhance the jurisdiction’s value as an international fund management centre. VCC came into operation in Singapore on 14 January 2020 which allows set up of collective investment schemes, whether open-end or closed-end.
VCC provides an alternative to Singapore’s existing structures, namely, unit trusts, limited partnerships, limited liability partnerships and companies. VCC is regulated under the Variable Capital Company Act 2018 and The Accounting and Corporate Regulatory Authority (ACRA) is the administrating authority for the VCC Act except in relation to anti-money laundering/countering the financing of terrorism (AML/CFT) which is supervised by the Monetary Authority of Singapore (MAS).
How can Argus Help?
We are an experienced regulatory consulting firm who can assist financial institutions with their compliance requirements in Singapore. We can assist fund managers to know about basic requirements of VCC and incorporate a standalone or umbrella VCC in Singapore. We can also assist fund managers to transfer their existing funds to the VCC structure in Singapore.
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For more information and a discussion, please contact us at firstname.lastname@example.org