Extended Variable Capital Companies Grant Scheme
The Variable Capital Companies Grant Scheme (“VCCGS”), first introduced on 15 January 2020 for a period of three years till 15 January 2023, has catalysed the adoption of Variable Capital Companies (“VCCs”) in Singapore. With effect from 16 January 2023
Under the Extended VCCGS, the Financial Sector Development Fund (“FSDF”) 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 grant cap of S$30,000 per application.
|Applicant Eligibility||First-time Qualifying Fund Managers
The Extended VCCGS is available only to First-time Qualifying Fund Managers that have incorporated a VCC or successfully re-domiciled a foreign corporate entity to Singapore as a VCC for the first time, and have obtained a Notice of Incorporation or Notice of Transfer of Registration from the Accounting and Corporate Regulatory Authority ("ACRA") (as the case may be) which specifies a date between 16 January 2023 and 15 January 2025 (both dates inclusive). The following conditions apply:
30% co-funding of qualifying expenses listed below, capped at S$30,000 per VCC.
|Minimum Operational Period|| A VCC which has been awarded a grant under the Extended VCCGS is required to remain operational for at least one year from the Registration Date