What is the minimum number of directors required of a VCC (Variable Capital Company)?

A VCC must have:

At least one director who is ordinarily resident in Singapore. This means that Singapore citizens, Permanent residents or holders of EntrePass/ Employment Pass (subject to Ministry of Manpower’s letter of consent), with a local residential address may qualify. FIN holders are advised to seek consent from the relevant pass issuing authority (e.g. MOM/ICA) before registering or taking on appointment (e.g. Director, Secretary) in an entity;

At least one director (who may be the same person as in 4(a) above) who is either a Qualified Representative (as defined under the Variable Capital Companies Act) or a director of the VCC’s fund manager.

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