VCC Grant Scheme

• First-time Qualifying Fund Managers that must not have previously incorporated a VCC or successfully re-domiciled a foreign corporate entity as a VCC and must not have previously applied for the VCCGS.

• The set-up of the VCC cannot be simultaneously funded by other government grants/incentives with respect to the same set of qualifying costs and commitments;
• Each applicant may only apply for the Extended VCCGS for qualifying work performed in relation to one VCC that has been incorporated or successfully re-domiciled;
• Qualifying expenses must be paid to Singapore-based service providers for work done in Singapore in relation to the incorporation and registration of the VCC and its sub-fund(s) (if any);
• A Qualifying Fund Manager may not claim co-funding under the grant scheme solely for registration of sub-fund(s) (without the accompanying incorporation or transfer of registration of a VCC). However, a Qualifying Fund Manager may claim qualifying set up costs incurred for the registration of sub-fund(s) as part of the set-up of an umbrella VCC; and
• Applicants should formally submit their applications within three months from the date specified on the Notice of Incorporation issued by ACRA (for a newly incorporated VCC) or within three months from the date of ACRA’s approval of the VCC’s evidence of de-registration (for a foreign corporate entity re-domiciled to Singapore as a VCC).

• Legal services
• Tax services
• Administration or regulatory compliance services

Please refer to the downloadable Extended VCCGS Factsheet for full details on qualifying expenses:

• Extended VCCGS Factsheet (147.5 KB)

• For VCCs incorporated or registered on or before 15 January 2023 as evidenced by the date specified in the Notice of Incorporation or Notice of Transfer of Registration issued by ACRA, the original VCC Grant Scheme parameters will apply. For further information, please write to vcc-fsdf@mas.gov.sg.
• Refers to: (i) a licensed fund management company, i.e., a holder of a capital markets services license for fund management under section 86 of the Securities and Futures Act 2001 (“SFA”); (ii) a registered fund management company, i.e. a corporation which is exempted from holding a capital markets services licence under paragraph 5(1)(i) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations; or (iii) a financial institution exempted under sections 99(1)(a), (b), (c) or (d) of the SFA from the requirement to hold a capital markets services licence to carry on business in fund management, i.e., a bank licensed under the Banking Act 1970 (“BA”), a merchant bank licensed under the BA, a finance company licensed under the Finance Companies Act 1967 or a company or co-operative society licensed under the Insurance Act 1966.
• Registration Date refers to the date of incorporation or registration as specified on the Notice of Incorporation or Notice of Transfer of Registration issued by ACRA (as the case may be).

• Extended VCCGS Factsheet

• Corporate matters such as Companies, Businesses, VCC Model Constitutions, etc
  

• The Accounting and Corporate Regulatory Authority (ACRA)
• The Monetary Authority of Singapore (MAS)
• Singapore Academy of Law (SAL)

• CPF matters

• CPF Board

• Fair Employment Practices (FEP)

• Tripartite Alliance for Fair and Progressive Employment Practices (TAFEP)

• Immigration matters & Student Passes

• Immigration Checkpoints Authority (ICA)

• Taxation and GST

• The Inland Revenue Authority of Singapore (IRAS)

• Skills Development Levy (SDL)

• SkillsFuture Singapore Agency

• Work Passes

• The Ministry Of Manpower (MOM)