personal investment company

Definitions over time (1)

30/04/2020 – today applies on 12/11/2026 Article 3, Commission Delegated Regulation (EU) 2015/61 Scope: Whole act

For the purposes of this Regulation, the following definitions shall apply:

‘personal investment company’ (‘PIC’) means an undertaking or a trust whose owner or beneficial owner, respectively, is a natural person or a group of closely related natural persons, which was set up with the sole purpose of managing the wealth of the owners and which does not carry out any other commercial, industrial or professional activity. The purpose of the PIC may include other 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 these are connected to the main purpose of managing the owners' wealth;

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