This follows the company’s being incorporated as a variable capital company (VCC) on May 26.
In a statement on August 17, the company says the award paves its way to pursue its inaugural US$50 million ($68.5 million) private equity fund.
The fund management tax incentive offers the company the efficiencies to optimise its income tax exposure in Singapore by achieving tax neutrality and tax certainty, including Singapore’s tax treatment for variable capital companies (VCCs).
