Protected Cell Companies are governed mainly by the Protected Cell Companies Act 1999. It is a single entity with different cells having segregated assets and liabilities from one another.
It is liable to tax as a single entity. A GBC may be structured as a PCC. Being a qualified global business company, the PCC would therefore be taxed at a rate of 15% but application of the “partial exemption regime” could reduce the tax liability.
NB// PCC set up is allowed for the following activities:
- Asset holding
Collective investment schemes - Insurance business
Specialized collective investment schemes - Structured finance businesses
