Variable Capital Companies » VCC Grant Scheme

Qualifying Fund Managers [1] that have incorporated a VCC or have successfully re-domiciled a foreign corporate entity to Singapore as a VCC, and have obtained a notice of incorporation or transfer of registration from ACRA.

The following conditions apply:

1. The set up of the VCC cannot be simultaneously funded by other government grants/incentives with respect to the same set of qualifying costs and commitments;

2. Each applicant may only apply for the VCCGS for work done in relation to a maximum of three (3) VCCs that have been successfully incorporated or re-domiciled to Singapore;

3. Qualifying expenses must be paid to Singapore-based service providers for work done in Singapore in relation to the incorporation and registration of VCCs and their sub funds;

4. Co-funding for Qualifying expenses for the registration of sub-funds (without the accompanying incorporation or transfer of registration of a VCC) may not be claimed under the VCCGS. However, qualifying set up costs incurred for the registration of sub-funds as part of the set up of an umbrella VCC may still be claimed under the VCCGS and

5. Application should formally be submitted within three (3) months from the date on the notice of incorporation or notice of transfer of registration issued by ACRA (for a newly incorporated VCC) or within three (3) months from the date of ACRA’s approval of the VCC’s evidence of de-registration (for a foreign corporate entity re-domiciled to Singapore as a VCC).

70% co-funding of qualifying expenses listed below, capped at $150,000 per VCC.

1. Legal services

2. Tax services

3. Administration or regulatory compliance services

Please refer to the downloadable VCCGS factsheet for full details on qualifying expenses: 

A VCC is required to remain operational for at least one year from the Registration Date upon awarded a grant under the VCCGS i.e. the VCC cannot be wound up within the first year from the Registration Date. MAS reserves the right to claw back the grant awarded if the VCC is wound up within its 1st year from the Registration Date and/if the recipient fails to inform MAS of the winding up of the VCC within one week from the date of the winding up or the passing of resolution for a voluntary winding up.