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Regulations for Offers of Collective Investment Schemes (CIS)

Exemption from requirements for offers of units in a CIS

  • According to MAS (Pages)

    Exempted Offers

    Authorisation / recognition of a CIS and prospectus registration requirements do not apply to certain offers of units in a CIS (“exempted offers”). These offers include:

    • Small Offers – Total amount raised is S$5 million or less in 12 months
    • Private Placement – Offers made to no more than 50 persons in 12 months
    • Offers targeted at accredited or institutional investors

    Exempted Offers are subject to certain conditions, e.g., no advertising, and specific disclosures to investors. You may refer to Subdivision 4 of Division 2, Part XIII of the SFA for more information.