Singapore VCC & Fund Administration - Set Up Your Fund the Right Way
Karman handles VCC incorporation, MAS compliance, and ongoing fund administration for fund managers, family offices, and institutional investors setting up in Singapore.
Everything you need to launch your Singapore VCC
End-to-end VCC setup, MAS compliance, and fund administration coordination. No hidden extras.
VCC Incorporation with ACRA & MAS
We handle the full VCC registration with ACRA's BizFile+ and satisfy MAS's requirement that every VCC be managed by a MAS-licensed or exempt fund manager.
Umbrella & Standalone Structures
We advise on and incorporate both umbrella VCCs (multiple sub-funds sharing costs) and standalone VCCs depending on your fund strategy and investor base.
Company Secretary for VCC
Mandatory ACRA annual returns, sub-fund registration, AGM facilitation, and statutory register maintenance - all handled by our qualified company secretaries.
13O & 13U Tax Incentive Applications
We prepare and coordinate your application for MAS's 13O (Onshore Fund Tax Exemption) or 13U (Enhanced Tier Fund Tax Exemption) incentives through IRAS.
AML/CFT Programme Setup
Assist fund managers in establishing a Singapore-compliant AML/CFT programme, including policy documentation, risk assessments, and transaction monitoring frameworks.
Re-domiciliation from Cayman/BVI
Managing the process of transferring an existing offshore fund structure to a Singapore VCC, including CIMA de-registration, investor consent, and ACRA re-domiciliation filing.
Ongoing MAS & ACRA Compliance
Annual VCC compliance calendar management: ACRA annual returns, MAS regulatory submissions, AML/CFT periodic reviews, and sub-fund financial statements.
Fund Administration Coordination
We work alongside your fund administrator, auditor, custodian, and legal counsel to ensure all mandatory service provider requirements are met under the VCC Act.
Simple, transparent VCC packages
Choose the package that fits your fund structure. No hidden fees, no surprises.
VCC Setup
Full VCC incorporation with ACRA & MAS
- VCC incorporation with ACRA & MAS
- Company constitution & sub-fund constitutions
- Mandatory service provider coordination
- First board resolutions and statutory registers
- Registered office address (1 year)
- Post-incorporation compliance checklist
VCC Setup + Annual Compliance
Incorporation plus full first-year compliance
- Everything in VCC Setup
- Annual company secretary retainer
- ACRA Annual Return filing
- MAS compliance calendar management
- AML/CFT programme documentation
- 13O/13U application support
- Dedicated relationship manager
13O/13U applications and re-domiciliation are quoted separately based on complexity. Contact us for a tailored quote.
Your VCC set up in 3 steps
We manage the entire process from eligibility check to ongoing compliance — so you can focus on your fund.
Initial consultation & fund manager eligibility check
We assess your fund structure, strategy, AUM, and fund manager licensing status to confirm VCC eligibility and recommend the right structure (umbrella vs standalone, 13O vs 13U).
Incorporation & MAS notification
We prepare and file your VCC incorporation with ACRA, draft your VCC constitution and sub-fund constitutions, coordinate mandatory service provider appointments, and handle MAS notification requirements.
Post-incorporation setup & ongoing compliance
We set up your compliance calendar, AML/CFT documentation, and register your company secretary. Ongoing retainer clients receive proactive deadline management and annual filings throughout the year.
Common questions about Singapore VCCs
A Variable Capital Company (VCC) is a corporate structure introduced by MAS in January 2020 specifically for investment funds. Unlike a standard Pte Ltd, a VCC has variable capital - meaning it can issue and redeem shares freely without shareholder approval, which is essential for open-ended fund structures. VCCs can be set up as standalone funds or as umbrella structures with multiple sub-funds, each with segregated assets and liabilities. Every VCC must be managed by a MAS-licensed or exempt fund manager.
Any fund manager who holds a Capital Markets Services (CMS) licence from MAS, or who qualifies as an exempt fund manager under the Securities and Futures Act, can incorporate a VCC. The VCC itself is incorporated with ACRA and must have at least one director who is a Singapore resident. Foreign fund managers without a Singapore presence typically work with a Singapore-based MAS-licensed manager or establish a local fund management entity first.
13O (Onshore Fund Tax Exemption) and 13U (Enhanced Tier Fund Tax Exemption) are MAS-administered tax incentives that exempt qualifying VCCs from Singapore income tax on specific investment income. 13O is for funds with at least S$10 million AUM investing at least 10% or S$10 million in local investments; 13U requires S$50 million AUM and S$200,000 annual fund manager business spending. Both incentives also require the fund manager to employ at least two investment professionals. Applications are processed through IRAS with MAS support.
ACRA typically approves VCC incorporation within 1-3 working days, similar to a standard Pte Ltd. However, the full setup process - including fund manager eligibility confirmation, mandatory service provider appointments (auditor, custodian, administrator), MAS notification, and 13O/13U application - typically takes 4-8 weeks in total. Re-domiciliation from an offshore jurisdiction takes longer, typically 3-6 months.
Yes. Singapore's VCC Act provides a re-domiciliation mechanism for offshore funds (including Cayman Islands, BVI, and other recognised jurisdictions) to transfer their legal domicile to Singapore as a VCC. The process requires: investor consent (usually via a shareholder resolution), CIMA or BVI FSC de-registration, ACRA re-domiciliation application, and satisfaction of the VCC eligibility requirements. The fund's existing legal identity, track record, and investor relationships are preserved. Karman manages the full process in coordination with your offshore legal counsel.
Complete your Singapore fund setup
Most fund managers need these services alongside VCC incorporation.
Ready to set up your Singapore VCC?
Speak to our fund administration specialists. We'll assess your eligibility, recommend the right structure, and handle everything from incorporation to ongoing compliance.
Talk to our team