Future Business Investment

Amicorp Group has broadened its fund structuring solutions after securing a Variable Capital Companies ("VCC") license in Mauritius, adding to the VCC license it already holds in Singapore.

Introduced in 2022, the Mauritius VCC is a new corporate vehicle that provides cost-effective, flexible, and secure solutions for managing traditional and alternative funds, including private equity, real estate, fund of funds, hedge, Exchange Traded Funds ("ETFs") and fixed income.

Regulated by the Financial Services Commission, the VCC provides an attractive pooling vehicle for international and regional investors looking to target Asian and African opportunities and foreign corporate entities looking to re-domicile their investments in Mauritius.

The VCC can be set up as a standalone or umbrella with sub-fund structures; as a structure for both Collective Investment Schemes ("CIS") and Closed-Ended Funds ("CEFs"); as a flexible vehicle that can hold single assets or an alternative to partnerships and standard corporate vehicles. Unlike Singapore VCCs, each sub-fund or Special Purpose Vehicle ("SPV") in a Mauritius VCC can choose to have a legal personality distinct from the VCC, ensuring further ring-fencing of assets and liabilities in case of insolvency.

The VCC requires only a single Global Business License and allows the whole structure to benefit from the offshore facilities of Mauritius, which has 45 Double Taxation Treaties and 29 Investment Promotion & Protection Agreements in place. A VCC may also appoint a single CIS Manager (domiciled in Mauritius), CIS Administrator, and custodian for operational cost savings.

Additionally, a VCC's share capital composition is flexible and confidential, with no requirement to have the register of shareholders or audited accounts filed as publicly available records.

How can Amicorp help?

Amicorp can assist with the formation and management of new VCC structures in Mauritius and in Singapore, as well as with the re-domiciliation of existing foreign structures into both jurisdictions. Our team of in-house experts offers a complete set of support services, covering legal structures, accounting and NAV services, and domicile CIS Managers. Our model is a cost-effective, flexible, plug-and-play solution to help fund managers and investors take advantage of the benefits that VCCs can offer.

If you would like to find out more about the Mauritius or Singapore VCC structure or how Amicorp can help with that, contact our team here.