European Real Estate Fund Regimes
Comparison of more than 30 different types of fund vehicles in a summary form, by looking at a consistent key topics
The AIFM Directive entered into force on 22 July 2013, and has been implemented by European legislators. Legislators had to consider regulatory matters, as well as changes to fund and investor taxation. This has resulted in significant changes in the European real estate fund landscape.
This booklet aims to give an overview of the most common European Collective Investment Vehicles (CIVs) suitable for investment in real estate, including their legal form, as well as their regulatory and tax position.
It compares more than 30 different types of fund vehicles in a summary form, by looking at a consistent set of key topics, and noting major pros and cons.
The Programme Act of 3 August 2016 introduced the new Belgian Real Estate Investment Fund (REIF or FIIS) and created an attractive platform for real estate funds from a regulatory and tax perspective. The Royal Decree implementing the REIF regime is yet to be introduced by the Belgian government.
This publication looks at the following aspects of investment vehicles: