The Singapore Variable Capital Companies Act, which went into effect in 2020, provides for the variable capital company (VCC). This is a new corporate form for the creation of investment funds, but it can also be used for wealth management purposes.
Below, our company registration agents explain how to open a VCC and its main features. If you want to set up a company in Singapore in the form of a variable capital company, you can rely on our specialists.
The company formation procedure for this type of company in Singapore is the same as for any entity, as it respects the Company Act. For this purpose, investors must complete the following steps:
Because of its special profile, the Singapore VCC company will take longer to register. Also, when used to create investment funds in the city-state, registration with the Monetary Authority is also required.
You can rely on our Singapore company formation advisors for support in registering this new type of business form.
Setting up a company in Singapore implies drafting various documents. In the case of a VCC company, the following are required:
You can rely on our consultants for support in drafting the necessary paperwork for the creation of a variable capital company in Singapore. We can also assist if you want to open a company in Singapore for other purposes.
The variable capital company has specific characteristics. Considering this business form is already used in many European countries, Singapore has used their examples when enabling the new law. According to it, here are some highlights of this business form:
Apart from these characteristics, if you want to set up a VCC company in Singapore, you must respect the specific investment fund legislation applicable. Our agents can advise in this sense.
First of all, the variable capital company needs authorization from the Monetary Authority of Singapore before starting its operations. Secondly, it must adhere to local or foreign investment funds rules, depending on where it will operate. It can also access various tax incentives.
The VCC has proved quite successful, as:
If you want to open a variable capital company in Singapore and need assistance, do not hesitate to contact our local representatives.