Establish a Singapore Variable Capital Company (VCC)

Hundreds of VCCs have been incorporated in Singapore since its launch in 2020. If you’re thinking about setting up a VCC, speak to our experts in Singapore to find out how.


Singapore is a key fund and asset management hub in Asia Pacific, offering an attractive balance between a competitive tax regime, political and economic stability and the credibility that comes with investing in an onshore financial centre. In addition, its robust regulatory system and FATF low-risk status provides additional confidence for global investors.

The introduction of VCCs has proven to further increase its appeal as a fund domicile of choice for global and Asian investors, providing fund managers with a flexible structure that simplifies fund administration and corporate governance.

With a dedicated team of fund professionals in Singapore and one of the first fund administrators to assist setup and service clients’ VCC structures, Vistra can help you launch your VCC and provide end-to-end fund administration, setup, tax compliance, governance and regulatory support.


What is the Singapore VCC?

The Singapore Variable Capital Company (VCC) is a corporate structure for investment funds that offers investors and fund managers significant flexibility across different fund strategies, investor classes and asset classes.

The VCC was introduced in 2020 by the Monetary Authority of Singapore (MAS) as a more flexible fund structure compared to the private limited company and the limited partnership. It allows managers to “onshore” their funds in Singapore as well as setting up fund management activities and operations in the city-state.


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Why Vistra for your Singapore VCC?

fund professionals
60+ fund professionals in Singapore
We have a dedicated team of experienced professionals providing fund admin, fund accounting and corporate secretary services.

tech driven
Technology driven
We invest in world-class technology and develop our own proprietary tech on cloud-based platforms to help simplify your fund administration and enhance data security.
in-depth knowledge
In-depth VCC knowledge and experience
We were one of the first fund administrators in Singapore to help setup and service clients’ VCC structures since 2020.

one-stop solution
Comprehensive solution
Our end-to-end fund services include set-up, incorporation and company secretarial services to fund administration, cash management and tax filing services, as well as FATCA/CRS reporting.

fixed fee model
Fixed-fee model
Our pricing is transparent and competitive, so you can expect no surprises.

Key features of a VCC

One of the main challenges facing managers establishing funds as a limited partnership was the lack of a separate legal entity from the partners. A VCC can be established as a standalone VCC or an umbrella VCC with sub-funds – and the latter allows managers to segregate assets which keeps liabilities separate from other sub-funds.

Other features of a Singapore Variable Capital Company include

  • Utilising a VCC umbrella structure allows the ability to launch sub funds quicker than a standard structure
  • Sub funds can be exited without having to restructure or wind down the entire fund
  • You are permitted to redeem or purchase fully paid shares or pay distributions out of both capital and/or profits
  • You can re-domicile existing funds with comparable structures in Singapore as a VCC, or inwardly re-domicile relevant foreign corporate entities as VCCs

Benefits of the VCC

Flexible for various strategies
The Singapore VCC can be used for traditional and alternative strategies, both open- and closed-ended.
Cost savings
When you set up as an umbrella VCC, economies of scale can be realised through using a single administrator for main and sub-funds.
Tax incentives
VCCs can take advantage of Singapore’s network of tax treaties, which can benefit cross-border investments, as well as apply for government tax incentive schemes such as the 13R/X or 130/U.

Built-in confidentiality
Accounts and share registry of VCCs need not be made public.

Interactive fund domicile map

What other fund structures can you consider in Singapore? How does Singapore compare to other jurisdictions like Cayman?

Our interactive fund domicile map allows you to compare popular destination countries by type of structures available and their respective set-up time, regulatory and tax requirements.


Need support for fund services outside of Singapore?

We help private equity firms navigate cross-border complexities to be compliant and efficient wherever they are globally.

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