Protected Cell Company (PCC)
- A single legal entity, comprising a “core” and a number of ring-fenced, protected “cells”
- Designed to segregate the assets and liabilities of each cell from the others, thus protecting each cell from the creditors of other cells or the core.
- Operating expenses and start up costs ordinarily up to 30% less than those for a conventional company
- Often a lower minimum capital requirement than for a conventional company
Incorporated Cell Company (ICC)
- Based on similar principles to a PCC and provides the same segregated protection of assets
- Each cell is a separately registered legal entity, incorporated on formation with its own memorandum and articles.
- Each cell has its own board of directors.
Segregated Account Company (SAC)
- The Bermudian equivalent of the Guernsey PCC
- The assets and liabilities of each Account are segregated from one another
- Operating expenses and start up costs less than those for a conventional company