• a22162

Application for Venture Capital Fund Manager (VCFM) Licence

Who needs to apply?





Individuals performing key functions in a fund management company, such as portfolio construction and allocation, research and advisory, business development and marketing or client servicing are required to be representatives.


What are the admission criteria?


When assessing an application to be a VCFM, MAS takes into account factors such as:


- Fitness and propriety of the applicant, its shareholders and directors.

- Track record and fund management expertise of the applicant and its parent company or major shareholders.

- Ability to meet the minimum financial requirements prescribed under the SFA.

- Strength of internal risk management and compliance systems.

- Business model/ plans and projections and the associated risks.

In addition, your company would need to operate from a dedicated and secure office space that is accessible only by your company’s directors and staff.


What are the applicable financial and staffing requirements?


Financial requirements

There is no minimum base capital and other financial resource requirement.


Staffing requirements

Minimum of 2 full-time Singapore-based employees


Annual corporate fee


There will be annual corporate fee of S$4,000 for the licence or registration status.


How do I apply for licensing or registration?


Applying for licensing or registration


There is a non-refundable application fee of S$1,000. Upon submission of the application, you will receive a fee advice together with the acknowledgement page.


Appointing representatives


If you hire or appoint individuals to conduct a regulated activity under your licence, you have to appoint and identify these individuals as your representatives for that regulated activity.


What is the processing time required?


MAS expects to take not more than 4 months to review and process an application if the business model is straightforward, the applicant meets the relevant admission criteria fully, and the application is complete and clear. For more complex cases, or cases where information is assessed to be incomplete or inaccurate, MAS will need a longer time to review the application.


Please ensure that your company’s application is complete, correct and accompanied by the requisite supporting documents.


[MAS]


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