SPV formation checklist & timeline
The step-by-step path from a structuring decision to a funding-ready single-deal SPV — with realistic timing for each jurisdiction, so you know where the delays usually happen.
Indicative timelines for planning only, based on typical service-provider turnaround — actual timing depends on your registered agent, bank and the completeness of KYC documents. Not legal advice. Built by aama.io.
About this tool
Forming a single-deal SPV involves a fairly predictable sequence — structuring and naming, drafting constitutional and subscription documents, incorporation, director and UBO KYC, and opening a bank account — but the pace of each step, and which one becomes the bottleneck, differs by jurisdiction.
This checklist lays out that sequence for Singapore, Cayman, BVI and Delaware, with realistic day ranges for each step and a critical-path estimate of when the SPV is actually ready to receive funds.
How to use it
- Choose a jurisdiction and set how many directors or UBOs need KYC documentation.
- Flag whether you're opening a brand-new bank relationship, and — for Delaware — whether a US person can apply for the EIN.
- Work through the checklist and read the critical-path timeline to a funding-ready SPV.
Frequently asked questions
What is the longest step in forming an SPV?
Opening a bank account is very often the actual bottleneck, not incorporation. A new banking relationship for an offshore entity can take two to four weeks of KYC/AML review, far longer than the one to five days most registered agents need to incorporate the entity itself.
How long does it take to open a bank account for an SPV?
For a brand-new banking relationship, budget roughly 10-20 business days for a Singapore entity and 15-30 business days for a Cayman or BVI entity; a Delaware LLC can often open an account with a fintech provider in as little as 3-10 days if its members are US-based.
How long does it take a foreign owner to get an EIN for a Delaware LLC?
A US person or an applicant with an SSN/ITIN can typically get an EIN online in one to three business days. A foreign applicant without an SSN or ITIN must apply by fax or mail and should budget two to four weeks.
Which steps can run in parallel when forming an SPV?
Tasks like appointing a registered office and corporate secretary, filing an economic substance or beneficial-ownership notification, or a federal beneficial ownership report typically run alongside incorporation or bank onboarding rather than blocking them, so they don't add to the critical-path timeline.