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Description

Singapore’s Variable Capital Companies (VCC) Act was enacted to provide for the incorporation and operational requirements of a new corporate structure that is suitable for investment funds. This practical workshop will provide the corporate secretarial practice dealing with VCC, valuable insights into understanding the operational and ecosystem requirements of the VCC Act. Additionally, latest updates to the VCC Act and common issues faced in implementing the VCC Act will be addressed.

Programme Outline

• Basic of investment entity structuring
• Variance between company, variable capital company and limited partnership
• Capital structure of a VCC and its features
• Eco-system requirement of a VCC
• Fund manager eligibility and ineligibility to use a VCC
• Sub-funds and umbrella features of a VCC
• Incorporation of a VCC
• Tax incentives for a VCC
• Requirements of a corporate secretary of a VCC
• Requirements of a Director of a VCC
• Requirements of a custodian

Q&A

What you will learn

• Be updated on the Variable Capital Companies (VCC) Act features and requirements
• Learn the incorporation of a VCC
• Deepen understanding on the various components and operational mechanics of a VCC
• Find out the taxation of a VCC
• Have a complete understanding of the requirements of a VCC’s ecosystem
• Overcome common challenges in meeting the requirements of the VCC Act
• The use of practical examples and case studies to reinforce the understanding and application of the VCC Act

Target Audience

• Company Secretaries
• Book-keepers
• In-house Legal in fund management and wealth management companies
• CSPs

Expert Speaker

Armin Choksey

Armin has over 22 years of asset management industry experience starting off with audits of investment funds under US and International auditing standards, along with knowledge of Indian, Hong Kong, Canadian, US, Luxembourg, and International Financial Reporting Standards relevant to the fund industry.

Armin was the project leader of a new legal entity-type legislation in Singapore – Singapore Variable Capital Company (VCC).

Armin was the main author of the white paper to the Monetary Authority of Singapore (MAS) to introduce the "Open-ended Investment Company" law in Singapore. This white paper led to a conducted detailed study on the feasibility of introducing such a legal entity form in Singapore.

He has also lectured at NUS’ CAMRI (guest lecture) Wealth Management Institute and WMI/ NTU’s Masters in Asset and Wealth Management.