Step 1: Understanding VCC features, eligibility & requirements

Review the key features for variable capital companies (VCC) and check the eligibility criteria that apply to your entity.

Last updated 29 January 2026

What is a VCC

A VCC is a structure that is mainly for investment funds, not businesses. You can either set up:

One single fund
One umbrella with many sub-funds

Each fund is completely separate from the others. If one fund loses money, it will not affect the other funds.

Unlike companies, VCCs do not need to share their member lists with the public. However, public authorities can ask to see it when needed.

Key features of VCCs

VCC key features

Key features	Details
Ownership	Shareholders own the VCC through their shares. All VCCs must have at least one shareholder. There is no maximum number of shareholders.
Shares	VCCs have more flexibility than regular companies: Can issue and redeem shares without shareholder approval Can pay dividends from the VCC's capital, not just profits
Legal status	A VCC is a separate legal entity. It can sue, be sued, and own property in the VCC's name.
Taxes	VCCs are taxed at corporate tax rates (opens in new tab). For umbrella VCCs, each sub-fund is taxed separately.
Post-registration and ongoing requirements	Key requirements include: Holding annual general meetings (AGMs) Filing annual returns Engaging an eligible financial institution (opens in new tab) to comply with anti-money laundering (AML) and counter-terrorism financing (CFT) requirements
Business continuity	VCCs exist until they are formally wound up or struck off. Sub-funds can also be wound up or struck off individually.
Closing down	The VCC or sub-funds must be formally wound up or struck off the register.

More details:

Registration: Eligibility requirements

You need to meet these requirements to reserve a VCC name and register a VCC.

VCC requirements

Requirements	Details
VCC officer requirements	Every VCC must appoint at least: One Director (unless it is a VCC with Authorised Schemes) (opens in new tab) One Company secretary One Fund manager One Auditor
Foreigner requirements	Foreigners who live overseas must meet these requirements: Age: 18 years or above. Engage a corporate service provider (CSP) to register on their behalf. Appoint at least one director who meets the director requirements. If you plan to move to Singapore to run the VCC, you must seek approval from the Ministry of Manpower (opens in new tab) (MOM).
Set-up fee	Registration fee: $8,015 ($15 name registration fee and $8,000 incorporation fee) Registration of sub-Fund: $400 for each sub-fund

Requirements

Details

VCC officer requirements

Every VCC must appoint at least:

One Director (unless it is a VCC with Authorised Schemes) (opens in new tab)
One Company secretary
One Fund manager
One Auditor

Foreigner requirements

Foreigners who live overseas must meet these requirements:

Age: 18 years or above.
Engage a corporate service provider (CSP) to register on their behalf.
Appoint at least one director who meets the director requirements.

If you plan to move to Singapore to run the VCC, you must seek approval from the Ministry of Manpower (opens in new tab) (MOM).

Set-up fee

Registration fee: $8,015 ($15 name registration fee and $8,000 incorporation fee)
Registration of sub-Fund: $400 for each sub-fund

Re-domiciliation: Eligibility requirements

You can transfer the registration of an existing entity (re-domicile) to Singapore. You need to meet these requirements to re-domicile into Singapore as a VCC.

Minimum requirements to re-domicile a Singapore VCC

Requirement	Details
Corporate structure	Only overseas funds with a similar corporate structure can re-domicile as a Singapore VCC.
Financial health	Directors' assessment: All directors must confirm that the financial requirements in regulation 9(1)(a) and (b) of the VCC Regulations (opens in new tab) have been met Debt capacity: Existing entity must be able to meet financial obligations
Legal	Jurisdication approval: Your jurisdication must allow the transfer. Compliance: You must meet all the key requirements of your jurisdiction. Good faith application: The registration is made honestly and not to avoid creditors. Operating status: Entity is not in liquidation, judicial management, or being wound up.

Requirement

Details

Corporate structure

Only overseas funds with a similar corporate structure can re-domicile as a Singapore VCC.

Financial health

Directors' assessment: All directors must confirm that the financial requirements in regulation 9(1)(a) and (b) of the VCC Regulations (opens in new tab) have been met

Debt capacity: Existing entity must be able to meet financial obligations

Legal

Jurisdication approval: Your jurisdication must allow the transfer.
Compliance: You must meet all the key requirements of your jurisdiction.
Good faith application: The registration is made honestly and not to avoid creditors.
Operating status: Entity is not in liquidation, judicial management, or being wound up.