For angel, real estate, and fund investors

One bad deal should not sink the others

Every deal you do carries its own risk, which is why serious investors wrap each one in its own SPV and hold them under a clean structure. We form the SPVs and holding entities, register them where the assets sit, and keep every one compliant, so a problem in one deal stays in one deal.

Set up your structure See the isolation
An SPV per deal Risk contained Portfolio view
The structure behind angel, real estate, and fund investors An SPV per deal Registered where assets sit 4.9 from 8,200+ reviews Compliance across the portfolio
Per deal
Each investment in its own SPV, contained
Registered
Formed and qualified wherever the asset operates
Compliant
Annual reports and agents across every entity
Wound down
Closed deals dissolved so cost does not pile up
The risk of holding deals together

If everything is in one entity, everything is exposed

It is tempting to run several deals through a single LLC to save on formation. The problem shows up the day one deal draws a lawsuit or a creditor: with everything in one entity, that claim can reach every other deal inside it, and your gains from the good deals are on the table to cover the bad one. The saving on setup is nothing next to that.

A special purpose vehicle per deal fixes it. We form an SPV for each investment, register it where the asset sits, and keep every one compliant, so a claim against one deal is walled off from the rest of your portfolio.

All in one entity
  • One claim can reach every deal
  • Good deals exposed to a bad one
  • Investors and books tangled together
  • No clean way to exit a single deal
  • Personal assets closer to the risk
An SPV per deal
  • A claim stays inside that deal
  • The rest of the portfolio protected
  • Clean books and investors per deal
  • Exit or dissolve one at a time
  • A wall between deals and you
See the wall in action

A claim hits one deal. Watch what it can reach

Switch between holding your deals separately and together, and see how far a single lawsuit travels.

Scenario: a lawsuit is filed against Deal 2.

Deal 1Real estateProtected
Deal 2The lawsuitExposed
Deal 3Startup equityProtected
Contained. Because each deal sits in its own SPV, the lawsuit reaches only Deal 2. Deals 1 and 3, and your personal assets, are walled off. Set up your structure.
The whole investor setup

Everything a portfolio of deals needs, in one place

Formation, registration, and compliance across every entity, handled together.

SPV formation

An entity per deal

Holding structure

Series or parent entities

EINs

For each SPV

Registered agent

In every state per SPV

Foreign qualification

Where the asset sits

Annual reports

Filed across the portfolio

Portfolio view

Every SPV in one dashboard

Dissolutions

Wind down closed deals
How a deal gets structured

From a new deal to an SPV that stands on its own

Five steps, in the right order. Select one to see the detail.

Step 1

Form the SPV for the deal

We form a dedicated LLC for the investment, usually in the asset's state or a common formation state, so the deal has its own wall from day one. Fees are passed through at cost.

A dedicated entity for one deal.
SPV: FORMED
Walled from the rest
Ready to hold the asset
Step 2

Get the EIN and banking

Each SPV gets its own EIN and account, so the deal's money, investors, and books stay separate from every other deal, which is exactly what keeps the wall standing.

Separate books per deal, not commingled.
EIN: ISSUED
Account opened
Clean per deal
Step 3

Register where the asset operates

If the deal sits in a different state than the SPV was formed in, we foreign qualify it there and place the registered agent, so it is legally registered wherever the asset actually is.

Registered where the deal lives. Foreign qualification.
Registered: DONE
Agent in place
Legal where it operates
Step 4

Keep every SPV compliant

Each entity's annual report and registered agent renewal is filed on time, in every state, and the whole portfolio sits in one view so nothing lapses as you add deals.

Renewals filed, portfolio in one view. Portfolio view.
Renewals: FILED
Portfolio in view
Nothing lapses
Step 5

Exit the deal and dissolve the SPV

When a deal closes out, we dissolve its SPV and file the final paperwork, so you stop paying agent and report fees on an empty entity and closed deals do not quietly pile up cost.

Wound down cleanly, no lingering fees.
SPV: DISSOLVED
Final filings done
No lingering cost
How this compares for an investor

Built for a portfolio of deals, not a single filing

Most options handle one entity and forget the rest. Here is the difference.

CapabilityFile.BusinessDIY per dealGeneric filerBig registered agent
An SPV per deal, formed fastSlow
Registered where the asset sitsNoExtraAdd-on
Whole portfolio in one viewNoNoLimited
Dissolves closed dealsManualPer filingAdd-on
Compliance across every entityNoNoAdd-on
Transparent, published pricingVariesPer filingQuote

The honest version. Deal structuring, securities compliance, and tax planning belong with your attorney and CPA, and nothing here is legal advice. What File.Business does is form the SPVs and holding entities they design, register them, and keep them compliant across your portfolio. Compare on the comparison hub.

BosAI for investors

An operator who knows the deal-entity playbook

Ask in plain English. BosAI knows SPVs, registration, and portfolio compliance.

BosAIInvestor workspace, Meridian Capital Partners

I am buying a property in Texas but I form entities in Delaware. What do I need?

A Delaware SPV for the deal, then a foreign qualification in Texas since that is where the property sits, plus a registered agent in both. That way the entity is properly registered where it operates. I have queued the formation and the Texas qualification and put both annual reports on the calendar.

Can I run this fund vehicle through you too?

We can form the entities a fund uses, the general partner, the fund vehicle, and the management company. But raising from outside investors is securities law, so that structuring belongs with your fund counsel. The clean split: they structure the offering, we form and maintain the entities.

Deal 3 just closed out. Anything to do?

Yes, dissolve it. I can wind down the SPV and file the final paperwork so you stop paying registered agent and annual report fees on an empty entity. Left open, closed deals quietly accumulate cost and filings. Want me to start the dissolution?
From an investor

One deal went sideways. The rest never felt it

I used to run three or four deals through one LLC to save on setup, until an attorney pointed out that a single lawsuit could take the whole thing down. File.Business moved every deal into its own SPV, registered them where the assets are, and put the whole portfolio in one view. When one deal later drew a claim, it stayed right there. The others, and my own assets, were never in the conversation.
Principal
Real estate and angel investor
Per deal
each in its own SPV
Contained
a claim stayed in one deal
One view
the whole portfolio at a glance

Representative composite based on investor outcomes. Nothing here is legal or tax advice; consult your professionals for your situation.

Investor guides and tools

The SPVs, the structure, and the oversight

Practical resources for structuring a portfolio of deals. All free to read.

Guide

Form an SPV

An entity per deal.

Read the guide Guide

Series and holding LLCs

Structuring a portfolio.

Read it Live tool

Portfolio view

Every SPV in one place.

Open it Live tool

Compliance calendar

Renewals across the portfolio.

Open the calendar
For the questions investors actually ask

Straight answers on SPVs, funds, and compliance

What is an SPV and why use one per deal?
A special purpose vehicle is an entity, usually an LLC, formed to hold a single investment. Putting each deal in its own SPV keeps its liability, its investors, and its accounting separate, so a problem with one deal cannot reach the others or your personal assets. It is the standard way serious investors contain risk deal by deal.
Can you set up a fund structure?
We form the entities a fund uses, such as the general partner, the fund vehicle, and the management company, but a fund raising from outside investors involves securities law that belongs with fund counsel. The clean split is that fund counsel structures the offering and File.Business forms and maintains the entities.
Where do I register an SPV?
Usually in the state of the asset or a common formation state like Delaware, and then registered as a foreign entity in any state where the asset actually sits, for example where a property is located. We handle the formation state and the foreign qualification so the SPV is properly registered wherever it operates. See foreign qualification.
How do I keep many entities compliant?
Through one portfolio view. Every SPV and holding entity, its state, its annual report, and its registered agent renewal sit in a single dashboard, and File.Business files the renewals. Investors with dozens of deal entities get one place to see status instead of tracking each state by hand. See the portfolio view.
Can I keep my investments private?
To a degree. Some states, such as Wyoming, New Mexico, and Delaware, allow entities that do not list members publicly, which many investors use for privacy. We can form in those states where it fits your structure, though your own tax and legal advisors should confirm it suits your situation.
Do my SPVs have to file beneficial ownership reports?
Under the 2025 interim final rule, entities formed in the United States are exempt from filing a beneficial ownership report, while entities formed abroad and registered here generally still report. We track the current requirements across your entities so nothing is missed as the rules settle.
What happens when I exit a deal?
When a deal closes out, its SPV is usually dissolved so you stop paying registered agent and annual report fees on an empty entity. We handle the dissolution and the final filings, so wound-down deals do not quietly accumulate cost and compliance obligations.
Does this replace my attorney or CPA?
No, and this is not legal or tax advice. Deal structuring, securities compliance, and tax planning belong with your attorney and CPA. File.Business forms the entities they design, registers them, and keeps them compliant, so your specialists focus on the deals. Talk to us.
Each deal contained, the portfolio protected

Wall off every deal before you need the wall

Form an SPV for each investment, register it where the asset sits, and let us keep every entity compliant across your portfolio. Start now, or talk with our team about your structure.

Set up your structure See the portfolio view
SOC 2 Type II · Not a law firm · State fees passed through at cost