What Is Vcc

February 26, 2024 Post a Comment

What is vcc

What is VCC? VCC is a new legal entity form / structure for all types of investment funds in Singapore. It can be formed as a single standalone fund, or as an umbrella fund with two or more sub-funds, each holding different assets.

What is a VCC investment?

A venture capital corporation (VCC) is formed for the sole purpose of investing in start-ups and emerging and expanding eligible small businesses. VCCs are usually managed by venture capitalists or angel investors who provide small businesses with the benefit of their expertise, experience, and business knowledge.

What is the purpose of a VCC?

A VCC has a variable capital structure that provides flexibility in the issuance and redemption of its shares. It can also pay dividends out of capital, which gives fund managers flexibility to meet dividend payment obligations.

What are the benefits of VCC?

The VCC allows for several collective investment schemes to be gathered under the umbrella of a single corporate entity with segregated assets and liabilities. It is a flexible structure that can accommodate the creation of sub-funds with either open or close-ended strategies.

How much does it cost to set up a VCC?

Name of Transaction	Statutory Filing Fees
Application for VCC Name	$15
Application for Incorporation of VCC	S$8,000
Application of Transfer of Registration	$9,000 + S$400 (Sub-Fund registration fee) x No. of sub-funds
Registration of Sub-Fund	$400

Who can set up a VCC?

You must pay a non-refundable fee of S$8,000 for incorporation of a VCC. Only a subscriber to the constitution of the VCC or a Corporate Service Provider (CSP) may file the form.

How do I set up VCC?

Setting Up a VCC

Introduction.
Registering a VCC name.
Determining the VCC type.
Appointing Directors, Company Secretary and Other Key Persons.
Registered Office Address and Constitution.
Incorporating a new VCC.
Registration of Sub-fund(s) for an Umbrella VCC.
VCC Filing Fees.

Can VCC hold shares?

– The VCC is a corporate entity in which shareholders may hold shares. – However, unlike a company which is used to carry on a business, the only purpose for which a VCC may be used is as one or more collective investment schemes (CIS) in the form of a body corporate.

Is VCC a trust?

A VCC is a corporate/legal entity, this means a VCC is able to act for and on behalf of itself without the need to appoint a trustee, offering much more freedom than a unit trust or similar entities. A VCC is able to issue and redeem shares without having to get shareholders' approval.

Is VCC a DC voltage?

The Vcc voltage of this power supply IC has a recommended operating range of 8.9 V to 26 V. Of course this is a DC voltage.

How many volts is VCC?

The design voltage for Vcc will depend on the circuit. Many designs use 5V or 3.3V as the Vcc voltage, but there are times when it might be 12V or 15V — or 1.8V or 2.5V — or pretty much anything, really. You are unlikely to ever see Vcc below 1V.

Is VCC a 5V?

Vcc is the DIP package supply, it should be 5V, whatever the source, but boards might range from 2.7V to 5.5V depending upon design and that datasheet.

Can US investors invest in VCC?

For example, a VCC can be used as a feeder fund for US tax-resident investors to invest into a VCC master fund, where both the master fund and feeder fund make US 'check-the-box' elections to be treated as transparent for US federal income tax purposes.

Is VCC regulated by MAS?

a VCC must appoint an EFI (regulated by MAS for AML/CFT) to perform the necessary checks and measures to comply with Notice VCC-N01; a VCC's members are also its customers, as defined in Notice VCC-N01; and.

How many VCCs are there in Singapore?

The 660 VCCs represented over 1,300 sub-funds and are managed by 420 regulated fund management companies, according to the Monetary Authority of Singapore's asset management survey 2021, released last week.

Is VCC grant taxable?

Just like any other company, VCCs pay income tax at the flat corporate tax rate of 17% on chargeable income. Certain tax exemption rules have also been extended to VCCs.

Who can set up a VCC in Singapore?

A: A VCC must have:

At least one director who is ordinarily resident in Singapore.
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.

What is a sub fund?

A sub-advised fund is an investment fund that is managed by another management team or firm than where the assets are held. A sub-advised fund may consist of specialty or niche investments that the main fund portfolio managers seek outside expertise for.

Does VCC need to be audited?

Each VCC must have audited financial statements for each financial period/year which gives a true and fair view of the financial performance of the standalone VCC, or in the case of an umbrella VCC, for each sub-fund.

Is a sub-fund a legal entity?

Although sub-funds have no legal personality, they generally constitute a separate economic entity under an umbrella fund (i.e., the SICAV), as their assets and liabilities are legally segregated.