VCC Grant Scheme in Singapore – Financial Support for Your VCC
Explore the VCC Grant Scheme in Singapore and discover how it supports the incorporation and operation of Variable Capital Companies.
VCC Grant Scheme in Singapore
The Variable Capital Companies (VCC) Grant Scheme is a cornerstone of Singapore’s efforts to enhance its financial ecosystem, offering fund managers financial relief to establish and grow VCCs.
Designed to offset setup costs, the grant encourages innovation and helps position Singapore as a leading global asset management hub.
How Does the VCC Grant Scheme Work?
The VCC Grant Scheme provides co-funding for qualifying expenses, capped at SGD 30,000 per VCC. Eligible costs include legal, tax, administrative, and compliance services directly related to the incorporation or re-domiciliation of VCCs. Fund managers can benefit from this initiative to reduce initial costs, driving growth and operational efficiency.
Coverage
Up to 30% of eligible expenses, capped at SGD 30,000.
Eligibility
First-time qualifying fund managers incorporating or re-domiciling VCCs.
Exclusions
Funding cannot overlap with other government grants for the same expenses.
How to Apply for the VCC Grant Scheme
To apply, fund managers must submit their application within three months of the VCC’s incorporation date (or approval of re-domiciliation). The VCC must remain operational for at least one year, ensuring a commitment to sustainable growth.
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Steps to Apply:
1.) Verify eligibility criteria (e.g., first-time VCC setup).
2.) Compile all qualifying expenses incurred during incorporation or re-domiciliation.
3.) Submit an application to the Monetary Authority of Singapore (MAS) within the stipulated timeframe.
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Key Conditions:
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Services must be performed by Singapore-based providers.
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Sub-fund registration costs are only claimable as part of an umbrella VCC setup.
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The VCC must not dissolve within its first year of registration.
Benefits of the VCC Grant Scheme
The scheme offers more than financial assistance—it connects fund managers to Singapore’s robust financial ecosystem, fostering collaboration with regulatory bodies and industry experts.
This grants fund managers access to mentorship, knowledge-sharing, and networking opportunities.
Why Choose the VCC Grant Scheme?
Financial Support
Offset incorporation and operational costs.
Networking Opportunities
Build connections within Singapore’s financial ecosystem.
Encouraging Growth
Enable innovation and scalability for fund managers.