A segregated portfolio company (“SPC”) is incorporated under the BVI Business Companies Act, 2004 (as amended) (the “BCA”). It is possible for a company to (i) be incorporated as an SPC or, (ii) if incorporated already, apply to the BVI Registrar of Corporate Affairs (the “Registrar”) to be registered as an SPC. The Registrar will not incorporate or register a company as an SPC until it has received written confirmation
from the BVI Financial Services Commission (the “FSC”) that it has approved the SPC.
This client guide covers the law as it currently stands under the BCA. However, we would note that the BVI government is seeking to enact the BVI Business Companies (Amendment) Act 2018 (the “Amendment”) which proposes changes to the SPC regime under the BCA. No timeline for the promulgation of the Amendment has as yet been indicated.