Memorandum on Singapore Variable Capital Companies

A major legislative milestone was reached for fund domiciliation in Singapore on 1 October 2018, with the Singapore Variable Capital Companies (VCC) bill voted and passed by parliament. The advantages of the VCC have been discussed and mooted since early 2017. The bill is currently being reviewed by a parliamentary committee and "will come into force in 2019."[1] The VCC will be a new corporate entity type established under the Singapore Variable Companies Act (the ‘Act’)[2]. Fund managers will be able to avail themselves of VCC in addition to private limited companies, limited partnerships and unit trust structures for fund management purposes.