📖 Glossary
Variable Capital Company (VCC)
A corporate structure available in Singapore specifically designed for investment funds. Introduced in 2020, the VCC allows a single entity to house multiple sub-funds, each with its own assets and liabilities. It provides flexibility for fund structuring and is commonly used by family offices applying for 13O or 13U tax incentive status.
Context
Singapore has registered over 1,200 VCCs comprising 2,695 sub-funds (MAS 2024). The VCC setup process is a key buying trigger for operational technology — when a family office establishes its VCC structure, it needs operational infrastructure as part of its substance requirements.
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