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Accounting and Corporate Regulatory Authority

Step 4: Choosing a VCC type & financial year end

Select from two VCC structures and determine your financial year end (FYE) date.

Last updated 29 January 2026

Choosing a VCC type

There are two VCC types to choose from. You can change your VCC type after you register a VCC.

VCC types

VCC type

Details

Non-umbrella

A single investment fund with one set of assets and liabilities.

Umbrella with many sub-funds

An investment fund with two or more sub-funds.

Each sub-fund:

  • Has separate assets and liabilities. One fund's gains or losses will not affect other funds.

  • Operates independently so you can run different investment strategies or portfolios under one VCC.

More details: Registering sub-funds for an umbrella VCC

Choosing an FYE

An FYE is the last day of a VCC's accounting period. Accounting periods can be 12 months or 52 weeks.

You can choose any date as your company's FYE. Common FYE dates include: 31 March, 30 June, 30 September, and 31 December.

FYE examples

Accounting period

Example

12 months (calendar months)

  • Start date: 1 January 2026

  • FYE: 31 December 2026

52 weeks (weekly cycles)

  • Start date: Wednesday, 1 January 2026

  • FYE: Wednesday, 30 December 2026

Tip: Choose the FYE carefully, as it determines your annual filing and tax deadlines. Consider your business cycle and when your accountants are least busy when choosing your FYE.