personal investment company

Definitions over time (1)

29/06/2021 – today applies on 12/11/2026 Article 411, Capital Requirements Regulation (CRR) Scope: Part VI Also: PIC

For the purposes of this Part, the following definitions apply:

‘personal investment company’ or ‘PIC’ means an undertaking or a trust, the owner or beneficial owner of which is either a natural person or a group of closely related natural persons which does not carry out any other commercial, industrial or professional activity and which was set up with the sole purpose of managing the wealth of the owner or owners, including ancillary activities such as segregating the owners' assets from corporate assets, facilitating the transmission of assets within a family or preventing a split of the assets after the death of a member of the family, provided that those ancillary activities are connected to the main purpose of managing the owners' wealth;