PDegal LLC offers clients an extensive range of services to private equity and venture capital firms, family offices, providing advice and expertise on:
On 15 January 2020, the Monetary Authority of Singapore (MAS) launched the much awaited ‘Variable Capital Company’ (VCC), a new corporate structure customized to cater to the specific requirements of investment funds.
The VCC structure is based on the “Segregated Portfolio Company” structure – a company, which remains a single legal entity and may create segregated portfolios such that the assets and liabilities of each portfolio are legally separate from the assets and liabilities of any other portfolio, currently adopted by jurisdictions such as the Cayman Islands. Much like the Segregated Portfolio Company, the VCC can be structured as a stand-alone fund or an umbrella fund with multiple sub-funds.
This article seeks to provide an overview of the VCC structure including regulatory requirements and incentives, and highlight why the VCC is becoming an increasingly popular vehicle for fund and wealth management.
The following are the key features of a VCC:
As the VCC was introduced for the purposes of fund and wealth management, it has been ultimately tailored towards the needs of the aforesaid industries. Some of the key advantages of the VCC include the following:
To encourage industry-wide adoption of the VCC framework from managers in Singapore and globally, the MAS has announced a generous grant to defray VCC related set up costs (the “Grants Scheme”).
Under the Grants Scheme, MAS will reimburse VCCs up to S$150,000 which can be utilized towards payments to eligible Singapore based service providers (legal and tax counsel, regulatory & compliance).
For the purposes of tax, the VCC is treated as a company and a single entity. As such, the VCC need only to file a single Income Tax return with the Inland Revenue Authority of Singapore (IRAS) .
The VCC will also be able to be afforded tax benefits such as:
PDLegal LLC is pleased to announce that Managing Partner, Peter Doraisamy, has been recognised and ranked by Chambers & Partners (Asia Pacific 2023 for Shipping: Domestic: Litigation). The following quotes appear with Peter’s ranking: –
“Peter Doraisamy of PDLegal in Singapore is a noted shipping lawyer in the market. He handles a wide range of disputes, including ship grounding, cargo and fraud-related cases” – Chambers & Partners – Asia Pacific 2023
“He is excellent in litigation. He has very good control of the case, collecting the right evidence and putting this into a very successful trial.” – Shipping Litigation Client
Chambers and Partners is the leading independent professional legal research company operating across 200 jurisdictions. Chambers and Partners delivers detailed rankings and insights into the world’s leading lawyers and law firms.
This ranking is a testimony to the expertise and experience of the Firm’s shipping practice and would not be possible without the support of our clients and friends.View All Awards
Raghunath Peter Doraisamy is the Managing Partner of PDLegal LLC. Peter specialises in shipping and maritime law and complex litigation.
Gerard’s main areas of practice include fraud and asset recovery, commercial disputes, financial services law and regulation and shipping litigation.
Nazim specialises in complex high value Commercial Litigation and International Arbitration.
In October 2017, Andrew was featured as one of “Asia’s brightest young legal minds under 40 years of age making waves” by Asian Legal Business.
Wei Hong is a dispute resolution specialist. His practice areas are Construction and Insurance.
Mato’s practice areas encompass civil and commercial litigation, criminal litigation (white-collar and general crime), employment law and other advisory work
Lakshman is an Indian-qualified lawyer registered as a foreign lawyer in Singapore. He has 24 years of experience and leads the firm’s India desk.
Daniel’s areas of practice include fraud and asset recovery, commercial disputes, and white-collar investigations.
Sathya’s main areas of practice are civil and commercial litigation, restructuring and insolvency, and international arbitration.
Glenn’s main areas of practice include fraud, asset recovery and investigations, complex commercial and cross-border disputes, restructuring and insolvency, international arbitration, and mediation. Glenn also specialises in white-collar criminal defence work.
Yzabel’s main areas of practice are complex commercial and civil litigation (including cross-border commercial and corporate disputes), fraud investigations, energy, natural resources & mining, offshore, international trade, and insolvency and restructuring.
Laurence has dedicated his professional career to claims handling and underwriting within the sphere of Marine Insurance. He has been a significant change accelerator within Singapore Underwriting circles
We know what’s at stake, and our lawyers ready for you – if you would like to speak to us for more information, please contact our client services team who will be happy to assist.