Latest Venture Capital Fund Management Criteria by MAS

VENTURE CAPITAL FUND MANAGEMENT CRITERIA a In.Corp Infographic | www.incorp.asia THE ELIGIBILITY CRITERIA FOR THE NEW VENTURE CAPITAL FUND MANAGEMENT REGIME In late 2017, the Monetary Authority of Singapore (MAS) announced a new Venture Capital Fund Manager (VCFM) regime to simplify and shorten not just the authorisation process but also relieve VC managers of capital requirements. VCFM regime also comprises some of the business conduct rules that are currently applicable to other fund managers as well. Before this, however, MAS had not differentiated between the VC managers and other fund managers. Fund Investment The Venture Capital (VC) manager should invest a minimum of 80% of committed capital in unlisted business ventures that are less than 10 years old and 20% if it's in other unlisted business venture investors. The fund will be offered to either accredited or institutional investors under the curities nd Act (SFA) or equivalent laws of the country in which the offer was made. Fund Type It should be closed type fund and shouldn't be made continuously available for subscription and should be irredeemable at the investor's discretion. FUND Place of Incorporation It should be a Singapore incorporated company with its permanent physical office in Singapore. Key Personnel • At least 2 directors (1 must be full-time & resident in Singapore) • At least 2 resident professionals and representatives (may include the directors) Guidelines and Policies The company and its shareholders, its employees and key personnel should comply with the guidelines of Fit and Proper Criteria. They should also disclose that the company is not subject to all regulatory requirements like other fund managers and that their policies and procedures are in lieu with the AML/CFT rules and regulations. Regulatory Returns They should submit the Annual Declaration for VCFMS along with Quarterly submission of Statement of Income and Expenditure. In addition to this, MAS should be notified of the company's particulars. Risk Management, Outsourcing, Business Continuity Management Policies and procedures should be implemented by considering the complexities and risks posed by the business model and operations. FORM A FUND MANAGEMENT COMPANY IN SINGAPORE WITH SPEED AND EASE Our expertise is unrivaled in Singapore. With 20+ years of know-how in company incorporation, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution. For a free consultation, call us at +65 8699 8826 or email us at [email protected]. GET STARTED Last Updated: Mar 2018 Singapere Singapore Company Registration & Work Visa Specialists - 30 Cecil Street, Prudential Tower, Singapore 049712 Phone: +65 8699 8826 · Email: [email protected] · Website: www.singaporecompanyincorporation.sg COMPANÝ INCORPORATION •....