[SG] VCC Set Up

As a certified corporate service provider and registered tax agent in Singapore, EStar Business helps fund managers, entrepreneurs and investment firms set up Variable Capital Companies (VCCs) in Singapore, and provides 13O/13U fund tax incentive applications and ongoing tax compliance services.  We also work closely with Singapore law firms and audit firms to deliver the full VCC setup and fund launch process as needed, including the VCC constitution, private placement memorandum (PPM), investment agreements and other legal documents, as well as auditor appointment, giving clients complete one-stop fund setup and compliance support.

Note 1 – Fund manager arrangement

A VCC cannot operate on its own. It must appoint a permissible fund manager under MAS rules to manage the fund's investments. The options include:

- A licensed or exempt fund management entity owned by the applicant, such as a firm holding a Capital Markets Services (CMS) Licence for fund management (see [SG] CMS Licence Application);

- A licensed third-party fund manager in Singapore (hosted/licensed fund manager), suitable for fund managers without their own licence who want to launch quickly.

Note that Singapore's Registered Fund Management Company (RFMC) regime was abolished on 1 August 2024, and former RFMCs must become Licensed Fund Management Companies to continue managing funds. A new VCC should therefore appoint a licensed fund management company (A/I LFMC) or an exempt entity as its fund manager.

Note 2 – Fund secretary services

Fund secretary services cover the fund and its sub-funds. They are an add-on to fund administration and charged separately. They cover the secretarial work needed for the fund's daily operations, but exclude third-party fees and extra charges for special requests.

Note 3 – Fund administration services

We provide fund managers with the following corporate finance services:

- Bookkeeping and financial statement preparation

- Reports required by the Monetary Authority of Singapore (MAS)

- Coordination with auditors on the fund's annual audit

- Income tax computation and filing for the fund manager

- Company secretarial and compliance services for the fund manager. We work with third-party partners on compliance, including compliance manuals, monitoring and support, training, reviews and KYC/AML services.

Note that these services are add-ons to fund administration and charged separately. See [SG] Fund Administration.

Other Notes

Quotes are based on factors such as fund type, investment type and reporting frequency. All quotes are subject to internal approval to ensure appropriate pricing, and we strictly comply with our Privacy Policy. For enquiries, please leave a message online or contact our team.

Our services rely solely on information provided by the fund manager, and we do not verify its completeness, authenticity or accuracy, which remain the fund manager's responsibility. Extra hours or costs caused by late or non-compliant information will be charged separately.

Guided by our philosophy of "Professional | Focused | Dedicated", EStar Business is committed to providing convenient, efficient and professional services. We aim to build our reputation through professional services and welcome entrepreneurs expanding overseas to join our platform and "Develop Together and Grow Together."

Your Possible Questions:

◎ Singapore Fund Management CMS Licence FAQs

◎ Summary of FAQs on Setting Up VCC in Singapore

◎ Summary of FAQs on Existing VCCs in Singapore

◎ Summary of FAQs on Singapore VCC Fund Taxation

Other links you may be interested in:

◎ [SG] Fund Administration

◎ [SG] CMS Licence Application

◎ [SG] Family Office Tax and Accounting Services

◎ [SG] List of Fees – Secretary | Finance (Accounting & Report) | Tax | Others

◎ [O-SG] Commonly Used Singapore Official Websites

If you have any other questions, please leave a message online or contact our team.