Summary

Foreign corporate entities may apply to transfer their registration to Singapore (inward re-domiciliation). A foreign corporate entity that re-domiciles to Singapore to become a registered VCC, is required to comply with the VCC Act. Re-domiciliation will not affect the obligations, liabilities, properties or rights of the foreign corporate entity. 

Requirements

Solvency criteria:

• All the directors of the foreign corporate entity have formed the opinion that the foreign corporate entity meets the minimum requirements mentioned in regulation 9(1)(a)and (b) of the Variable Capital Companies (Transfer of Registration) Regulations 2020

• the foreign corporate entity is authorised to transfer its incorporation under the law of its place of incorporation;

• the foreign corporate entity has complied with the requirements of the law of its place of incorporation in relation to the transfer of its incorporation;

• the application for registration under section 134(1) of the VCC Act is —
a. not intended to defraud existing creditors of the foreign corporate entity; and
b. made in good faith; 

• There are other minimum requirements such as the foreign corporate entity is not under judicial management, not in liquidation or being wound up etc.

How to apply

Please check if your proposed name is available by conducting a search at  Bizfile+ Search Directory before you submit your application. A non-refundable fee of $9,000 + [$400 x number of sub-funds] is payable for application for Transfer of Registration. You may include sub-funds in the application for Transfer of Registration if the foreign corporate entity consists of two or more collective investment schemes.

Please see section on choosing a VCC name above for more information on VCC names.

To apply for transfer of registration, please submit your application via the Transfer of Registration online form.

Processing time for Transfer of Registration

It may take 14 to 60 days from the date of submission of all required documentation, to process the transfer of registration application. This includes the time required for referral to another government agency for approval or review. For more information on Referral Authorities, please click here

After Registration

The applicant will be notified of the outcome of the application by email. Upon approval, the foreign corporate entity will be registered as a VCC in Singapore, after which a document evidencing the de-registration of the foreign corporate entity in its place of incorporation must be submitted within 60 days after the date of registration.

To submit the document evidencing de-registration of the foreign corporate entity in its place of incorporation, please file the Transfer of Registration online form.

Application for Extension of Time to submit document

If the VCC requires more time to provide the document, the VCC may apply for an extension of time by filing the General Lodgement online form.

Each application for Extension of Time costs $200 (non-refundable) and is valid for 2 months. All applications are subjected to approval.

The Registrar may revoke the registration of the VCC if the document is not submitted within 60 days after the date of registration, or within such longer period as the Registrar has approved.

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