Variable Capital Company
What is Variable Capital Company (VCC)
The Variable Capital Company (VCC) is a new corporate structure for investment funds constituted under the Variable Capital Companies Act which took effect on 14 Jan 2020. The VCC will complement the existing suite of investment fund structures available in Singapore.
All VCCs must be managed by a Permissible Fund Manager. Fund managers will be able to constitute investment funds as VCCs across both traditional and alternative strategies, and as open-ended or closed-end funds. Fund managers may also incorporate new VCCs or re-domicile their existing investment funds with comparable structures by transferring their registration to Singapore as VCCs.
- Apply for a new VCC name.
- File for incorporation of a new VCC.
- Register a sub-fund under an umbrella VCC (i.e. VCCs can have multiple sub-funds, each with its own assets and liabilities)
- Make changes to existing VCC info — name, structure/type, registered office address, etc.
- Register charges (e.g. liens or security interests) related to a VCC.
- Purchase official documents or reports about a VCC — e.g. business profile, statutory certificates, register of directors/managers, certificates confirming incorporation, etc.