Acronym for special purpose vehicle, a limited liability company, usually a subsidiary of a larger company, established to carry out a single business role or “special purpose,” thus insulating the parent from potential liability. SPV’s are often established in international tax havens such as the Virgin Islands, Liechtenstein, Monaco, Andorra, the Bahamas, the Cayman Islands, the Isle of Man, or the Channel Islands or in low-tax economies.

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