How to set up a VCC?
The setting up process is straightforward and can be done via the ACRA website. The following information is required to set up a VCC:
- VCC name- Choose and register a VCC name
- the type of VCC to be set-up – VCC can be set up as a single standalone fund or an umbrella fund with two or more sub-funds, each holding a portfolio of segregated assets and liabilities
- Details of directors, company secretary, auditor, fund manager and other key persons
- registered office address
- Constitution of the VCC
- Last day of the first financial year of the Proposed VCC
- Payment of prescribed fee
Usually, your advisors including lawyers, corporate secretary, fund administrator, accountants would be able to advise you.