Singapore Extends VCC Grant Scheme for Two More Years
The Monetary Authority of Singapore (MAS) has extended the grant scheme available to reduce the costs of establishing or registering a Variable Capital Company (VCC) in Singapore.
Introduced in 2020, the VCC has seen rapid market adoption by international investment managers. The grant scheme was originally intended to close on 15 January 2023, but due to exceptional market demand it has now been extended until 15 January 2025 - hereinafter referred to as the “Extended VCCGS”
Under the extended grant scheme, the Financial Sector Development Fund will co-fund 30% of qualifying expenses paid to Singapore-based service providers for qualifying work performed in Singapore in relation to the incorporation or registration of a VCC, up to a maximum of SGD30,000 per application.
The Extended VCCGS is only availabe for first-time Qualifying Fund Managers that have not previously incorporated a VCC, or re-domiciled a foreign corporate entity as a VCC, or previously applied for the grant, are eligible to apply for the extended VCC grant.
Full details can be found here.