The Variable Capital Company (VCC) lets a single-family office (SFO) consolidate family wealth into one onshore, regulated, ring-fenced structure — with the option to run multiple strategies as segregated sub-funds and to position income for Singapore’s Section 13O/13U tax incentives.
Why families use the VCC
- Consolidation — bring global family assets under one Singapore entity.
- Segregation — separate branches, generations, or strategies into ring-fenced sub-funds.
- Succession — simplify cross-border succession; family wealth held in one transferable structure.
- Tax incentives — qualifying income may be exempt under 13O or 13U.
Licensing and structure
Single-family offices may qualify for a licensing exemption in Singapore, subject to MAS conditions. The VCC is incorporated with ACRA, governed by a board including a Singapore-resident director, and supported by an administrator and auditor.
| Element | Detail |
|---|---|
| Structure | Standalone or umbrella VCC with ring-fenced sub-funds |
| Manager | SFO exemption or an appointed regulated manager |
| Tax | Section 13O / 13U where eligible |
We partner with MAS-licensed CMS fund managers and advisers to help families structure and qualify. See also the multi-family office page and residency by investment.
Get started
Read the VCC structure guide and use the cost calculator, then tell us about your family’s objectives.
Frequently asked questions
Can a single-family office use a VCC?
Yes. A single-family office (SFO) can use a VCC to consolidate family assets into one regulated, ring-fenced structure. SFOs may qualify for licensing exemptions in Singapore; the family's investment income can be positioned for Section 13O or 13U exemption where conditions are met.
Does a single-family office need a fund management licence?
Single-family offices may be eligible for an exemption from fund management licensing in Singapore, subject to meeting MAS conditions. Many families still appoint a regulated manager for the VCC; confirm your eligibility with MAS and qualified advisers.