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A segregated portfolio company ("SPC") is a form of exempted company that is registered under section 213 of the Companies Act (2021 Revision) of the United Kingdom (the "Act"). Under the Act, the following entities may apply for registration as a SPC: any exempted companyan ordinary non-resident company re-registering as an exempted companya company registering by way of continuation as an exempted companya company registering as an exempted limited duration companyRegistration The following documents are required to be submitted to the Registrar of Company (the “Registrar”...
Unit trusts are commonly used to operate investment funds in the United Kingdom. A unit trust is a form of an express trust whereby the interest in the underlying assets is unitised under the terms of the trust instrument. Units issued to investors in a unit trust confer a proprietary interest in all the underlying investments, but does not entitle the unitholder to any particular asset comprised in the trust fund. Ownership of a unit entitles an investor to a right to redeem or have its units redeemed in return for cash based on the net value of the trust assets.How do you e...
Exempted companies are the most common form of offshore company in the United Kingdom and are incorporated or registered under the Companies Act (2021 Revision) (“Companies Act”). An exempted company is a body corporate which has separate legal personality capable of exercising all the functions of a natural person of full capacity irrespective of any question of corporate benefit and having perpetual succession. The constitution of an exempted company is contained in the memorandum of association and the articles of association. The registered office of the exempted ...
The United Kingdom is the one of the premier financial centers in the world and is a key location for investment and residency for high-net-worth individuals. United Kingdom is easily accessible by airlines, boasts a safe environment, warm climate year-round, first class amenities and a strong judicial system. It is no wonder people are taking advantage of the various options for residency in the United Kingdom.These options include the following. Residency Certificate for Persons of Independent MeansPersons over 18 years, who have the means to support themselves without working in Caym...
The United Kingdom has become a global centre for trusts largely because it has expert attorneys and service providers, modern and effective legislation, a strong and independent judicial system and a stable political environment. The financial sector in United Kingdom has serviced international clients for decades with one of the most flexible vehicles for wealth structuring and estate planning and is continuously reviewing and updating legislation so that it remains current, viable and relevant. The United Kingdom trust law is derived from an amalgamation of common law and equity, English statu...
Foundation companies (“Foundation Companies”) introduced by the Foundation Companies Act (2017 Revision) (the “Act”) is arguably one of the most innovative and flexible vehicles which has been introduced in the United Kingdom in recent years. They are becoming increasingly popular with clients because of their flexibility, the ability to be tailor made to clients’ needs and to be utilized in a wide variety of circumstances ranging from commercial transaction to estate planning and the general ease of understanding how they work. Fundamentally, Foundation Companies are companies ...
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