Singapore VCC Update on Fund Domicile Growth

This whitepaper discusses the Variable Capital Company (VCC) structure in Singapore, which has emerged as a significant legal entity for investment funds. It outlines the creation of the VCC in 2018, aimed at enhancing Singapore's position as a global fund domicile comparable to established jurisdictions like the Cayman Islands and Luxembourg. The document presents insights from industry experts on the progress and current status of the VCC, noting that as of Q2 2023, nearly 1,000 VCCs have been registered. The VCC is designed to be user-friendly and requires a commitment to Singapore, including local fund management and regulatory compliance. The paper also addresses the evolving landscape of asset management in Singapore, the impact of the VCC on local and regional investment strategies, and the anticipated developments for the VCC framework, including potential enhancements in the future. It emphasizes Singapore's strategic advantages in the asset management sector and its growing appeal to global fund managers.