A Special Purpose Company is a prescribed as a type of  Company. Typically used for either structured Islamic or conventional finance transactions (such as securitization, structured debt or sukuk issuance), as a loan facility or finance transaction as part of a corporate acquisition.

AIFC Legal Entities

An SPC is not required to take physical office space in the AIFC (but must maintain a registered office address and can be hosted by their appointed Corporate Service Provider).
Limited liability status equal to the share capital.
The purpose of an SPC, as set out in the AIFC Special  Purpose Company Rules, must be limited to “Exempt Activities”, which means any of the following, whether undertaken in an Islamic or conventional  manner: The acquisition (by way of leasing, title transfer, risk  transfer or otherwise), the holding & the disposal of any asset (tangible or intangible, including but not limited to receivables & shares) in connection with and for the purpose of a Transaction; The obtaining of any type of financing (banking or  capital markets), the granting of any type of security interest over its assets, the providing of any indemnity or similar support for the benefit of its Shareholder(s)  or any of its subsidiaries, or the entering into any type of  hedging arrangements, in connection with and for the purpose of a Transaction; The financing of the Initiator or another Special  Purpose Company; The acting as trustee or agent for any participant in the Transaction;