HONG KONG, October 11, 2008
/24-7PressRelease/ -- Each cell may have its own identifiable assets which the company can specifically commit in transactions with third parties, without jeopardizing assets attributable to other cells within the company, in the event of insolvency of that particular cell. Creditors will nevertheless be able to claim rights on that cells designated assets as well as assets which are common to all cells.
DTA's with numerous countries including China, Indonesia, Mauritius, South Africa, Thailand, Vietnam, U.A.E. among others.
These must be companies that engage in insurance and mutual fund scheme activities as set out in the Schedule of the Act. Such companies are also required to be licensed to carry out the activity or activities to be conducted by the Protected Cell Company (PCC) in accordance with the laws of the jurisdiction where the business will be conducted.
The PCC is widely used in collective investment schemes to establish 'umbrella' type mutual funds where many different classes of funds can be grouped under a single umbrella fund structure. In both cases investors participating in one cell are protected against adverse performance or other cells in the same entity.
Key Features:
* incorporation under the Companies At 1972 provides tax residency and transparency
* existing companies may be converted to PCC
* ideal for use in umbrella funds and captive insurance structures
* the company may engage in contracts involving assets attributable to one cell only
About Zetland Financial Group Limited
For more information please contact our General Manager at Zetland Corporate Services (Seychelles) Limited, Mr David Campbell, on +248 410 911 or email davidc@zetland.biz
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