DBS Singapore
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



2024 / 2025 Summits in Hong Kong & Singapore
Institutional Investor Summit / Roundtable - March / Oct / Nov
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register


This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $30 billion.











DBS Private Bank Acquired 1,200 New Clients from Mainland China in 2024, To Expand DBS Private Banking Workforce by 25% in 2024, DBS Private Bank with $201 Billion AUM with 730 Private Bankers

5th June 2024 | Hong Kong

DBS Private Bank had acquired around 1,200 new clients from Mainland China in 2024 (year-to-date), and is expanding DBS Private Banking workforce by 25% in 2024.  DBS Private Bank currently has $201 billion AUM (Assets under Management), and around 730 private bankers.  In 2023, DBS Private Bank launched a new Multi-Family Office (MFO) service using the Singapore Variable Capital Company framework (VCC) for clients to setup family office or investment structure with a minimum of $11 million(S$15 million) for the DBS MFO service.   The Singapore VCC framework (Variable Capital Company framework) reduces the need for family offices to setup multiple companies and thus reduces administration.  More info below:

“ DBS Private Bank Acquired 1,200 New Clients from Mainland China in 2024, To Expand DBS Private Banking Workforce by 25% in 2024, DBS Private Bank with $201 Billion AUM with 730 Private Bankers “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
17th Oct Hong Kong | 7th Nov Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place on 17th Oct 2024 in Hong Kong, 7th Nov 2024 in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here


The 2024 Family Office Summit
17th Oct Hong Kong St Regis | 7th Nov Singapore Amara Sanctuary Resort

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here


2024/2025 Institutional Investor Summit / Roundtable
March / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Senior investment team from Sovereign Wealth Funds, Pension Funds, Endowments, Foundations & Charities in Hong Kong, Singapore & Asia-Pacific at the 2024 Institutional Investor Summit / Roundtable.   Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore

Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit.  Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here





 

DBS Private Bank Launches Multi-Family Office Service with Singapore Variable Capital Company Framework or Clients to Setup Family Office or Investment Structure with Minimum of $11 Million for DBS MFO Service, Singapore VCC Framework Reduces Need to Setup Multiple Companies & Reduces Administration

DBS Managing Director & Group Head of Wealth Planning, Family Office & Insurance Solutions, Lee Woon Shiu

12th June 2023 – DBS Private Bank has launched a new Multi-Family Office (MFO) service using the Singapore Variable Capital Company framework (VCC) for clients to setup family office or investment structure with a minimum of $11 million (S$15 million) for the DBS MFO service.   The Singapore VCC framework (Variable Capital Company framework) reduces the need for family offices to setup multiple companies and thus reduces administration.  With the launch of DBS Multi-Family Office (MFO) service using the Singapore Variable Capital Company framework (VCC), clients now can setup a family office without the need to establish a primary company (holding structure), with DBS MFO service also managing the fund administration and custody of assets DBS Managing Director & Group Head of Wealth Planning, Family Office & Insurance Solutions is Lee Woon Shiu, who is also a Board Member of DBS Trustee & DBS Foundation.  DBS Private Bank Head of Family Office is Yvonne Lim.  The Singapore Variable Capital Company (VCC) is a new corporate structure for investment funds in Singapore (14th January 2020).  It can be formed as a single standalone fund, or as an umbrella fund with 2 or more sub-funds, each holding different assets.  As of 14th October 2022, there are more than 660 Variable Capital Companies (VCC) in Singapore, with 1,300 sub-funds by 420 regulated fund management companies, and supported by more than 220 fund service providers.  The VCC fund strategies are Private Equity / Venture Capital (33%), EAM / MFO (28%), Hedge Fund (20%), Traditional (14%), Others (5%).   Earlier in 2023 January, Singapore central bank Monetary Authority of Singapore (MAS) extended the Variable Capital Companies Grant Scheme (VCCGS) for 2 years till 2025 (15/1/25), with the grant to co-fund 30% & maximum of S$30,000 of qualifying expenses to service providers (legal, tax, admin, compliance) to incorporate or register VCC in Singapore.

 

 

DBS Private Bank Launches Multi-Family Office Service with Singapore Variable Capital Company Framework or Clients to Setup Family Office or Investment Structure with Minimum of $11 Million for DBS MFO Service

DBS Singapore

DBS Private Bank launches new Multi-Family Office (MFO) service using the Singapore Variable Capital Company framework (VCC) for clients to setup family office or investment structure with a minimum of $11 million (S$15 million) for the DBS MFO service.

 

 

Singapore MAS Extends Variable Capital Companies Grant Scheme for 2 Years Till 2025, Co-Fund 30% with Maximum S$30,000 of Qualifying Expenses to Service Providers to Incorporate or Register VCC in Singapore

Singapore | Leading financial centre in Asia

14th January 2023 – Singapore central bank Monetary Authority of Singapore (MAS) has extended the Variable Capital Companies Grant Scheme (VCCGS) for 2 years till 2025 (15/1/25), with the grant to co-fund 30% & maximum of S$30,000 of qualifying expenses to service providers (legal, tax, admin, compliance) to incorporate or register VCC in Singapore.  As of 14th October 2022, there are more than 660 Variable Capital Companies (VCC) in Singapore, with 1,300 sub-funds by 420 regulated fund management companies, and supported by more than 220 fund service providers.  The VCC fund strategies are Private Equity / Venture Capital (33%), EAM / MFO (28%), Hedge Fund (20%), Traditional (14%), Others (5%).  The Variable Capital Company (VCC) is a new corporate structure for investment funds in Singapore.  It can be formed as a single standalone fund, or as an umbrella fund with 2 or more sub-funds, each holding different assets.  See below for Variable Capital Companies Grant Scheme (VCCGS) announcement | View: MAS Singapore Asset Management Survey 2021

The Variable Capital Companies Grant Scheme (“VCCGS”), first introduced on 15 January 2020 for a period of three years till 15 January 2023, has catalysed the adoption of Variable Capital Companies (“VCCs”) in Singapore. With effect from 16 January 2023, the VCCGS has been extended for a validity period of two years from 16 January 2023 to 15 January 2025 (both dates inclusive) (hereinafter referred to as the “Extended VCCGS”).

Under the Extended VCCGS, the Financial Sector Development Fund (“FSDF”) will co-fund 30% of qualifying expenses paid to Singapore-based service providers for qualifying work performed in Singapore in relation to the incorporation or registration of a VCC, up to a maximum grant cap of S$30,000 per application.

See also:

 

Applicant Eligibility – First-time Qualifying Fund Managersthat must not have previously incorporated a VCC or successfully re-domiciled a foreign corporate entity as a VCC and must not have previously applied for the VCCGS.

Project Eligibility – The Extended VCCGS is available only to First-time Qualifying Fund Managers that have incorporated a VCC or successfully re-domiciled a foreign corporate entity to Singapore as a VCC for the first time, and have obtained a Notice of Incorporation or Notice of Transfer of Registration from the Accounting and Corporate Regulatory Authority (“ACRA“) (as the case may be) which specifies a date between 16 January 2023 and 15 January 2025 (both dates inclusive). The following conditions apply:

  • The set-up of the VCC cannot be simultaneously funded by other government grants/incentives with respect to the same set of qualifying costs and commitments;
  • Each applicant may only apply for the Extended VCCGS for qualifying work performed in relation to one VCC that has been incorporated or successfully re-domiciled;
  • Qualifying expenses must be paid to Singapore-based service providers for work done in Singapore in relation to the incorporation and registration of the VCC and its sub-fund(s) (if any);
  • A Qualifying Fund Manager may not claim co-funding under the grant scheme solely for registration of sub-fund(s) (without the accompanying incorporation or transfer of registration of a VCC). However, a Qualifying Fund Manager may claim qualifying set up costs incurred for the registration of sub-fund(s) as part of the set-up of an umbrella VCC; and
  • Applicants should formally submit their applications within three months from the date specified on the Notice of Incorporation issued by ACRA (for a newly incorporated VCC) or within three months from the date of ACRA’s approval of the VCC’s evidence of de-registration (for a foreign corporate entity re-domiciled to Singapore as a VCC).

Funding – 30% co-funding of qualifying expenses listed below, capped at S$30,000 per VCC.

  • Legal services
  • Tax services
  • Administration or regulatory compliance services

Please refer to the downloadable Extended VCCGS Factsheet for full details on qualifying expenses: Extended VCCGS Factsheet(147.5 KB)

 

Minimum Operational Period – A VCC which has been awarded a grant under the Extended VCCGS is required to remain operational for at least one year from the Registration Date. This means that the VCC cannot be wound up within the first year from the Registration Date. In the event that the VCC is wound up within the first year from the Registration Date, the Qualifying Fund Manager is to inform MAS promptly and by no later than one week from the date of the application for the winding up or passing of resolution for a voluntary winding up. MAS reserves the right to claw back the grant awarded if the VCC is wound up within the first year from the Registration Date and/or if the recipient fails to inform MAS of the winding up of the VCC within one week from the date of the winding up.

  • For VCCs incorporated or registered on or before 15 January 2023 as evidenced by the date specified in the Notice of Incorporation or Notice of Transfer of Registration issued by ACRA, the original VCC Grant Scheme parameters will apply. For further information, please write to [email protected].
  • Refers to: (i) a licensed fund management company, i.e., a holder of a capital markets services license for fund management under section 86 of the Securities and Futures Act 2001 (“SFA”); (ii) a registered fund management company, i.e. a corporation which is exempted from holding a capital markets services licence under paragraph 5(1)(i) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations; or (iii) a financial institution exempted under sections 99(1)(a), (b), (c) or (d) of the SFA from the requirement to hold a capital markets services licence to carry on business in fund management, i.e., a bank licensed under the Banking Act 1970 (“BA”), a merchant bank licensed under the BA, a finance company licensed under the Finance Companies Act 1967 or a company or co-operative society licensed under the Insurance Act 1966.  For VCCs incorporated or registered on or before 15 January 2023 as evidenced by the date specified in the Notice of Incorporation or Notice of Transfer of Registration issued by ACRA, the original VCC Grant Scheme parameters will apply. For further information, please write to [email protected].
  • Registration Date refers to the date of incorporation or registration as specified on the Notice of Incorporation or Notice of Transfer of Registration issued by ACRA (as the case may be).

 

How to Apply

Interested parties can write to [email protected] to obtain the application form or for more information.

 

 




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 17th Oct2024 Investment Day Singapore 7th Nov2024 Family Office Summit Hong Kong 17th Oct2024 Family Office Summit Singapore 7th Nov2025 Events












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • July 2024 - Hong Kong
    • July 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Oct 2024 - Hong Kong
    • Nov 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014