A propos de Gide
Fondé à Paris en 1920, Gide est l’un des principaux cabinets d’avocats internationaux.
International
Gide intervient dans de nombreux pays et est implanté dans six régions du monde, avec 11 bureaux.
Fondé à Paris en 1920, Gide est l’un des principaux cabinets d’avocats internationaux.
Gide intervient dans de nombreux pays et est implanté dans six régions du monde, avec 11 bureaux.
21 août 2023
Publication | France | Tax | Real Estate
"Vehicles commonly used in France to invest in real estate properties include both unregulated and regulated vehicles.
Unregulated vehicles usually take corporate form, such as simplified joint stock companies (SASs). Entities that are transparent for tax purposes are also often used – for example, private property companies (SCIs) or, in certain specific circumstances, general partnerships (SNCs). The SCI is a corporate form that is well suited to the operation of one or more buildings but is not, in principle, best suited for use as an investment company open to a large number of shareholders.
Regulated vehicles may be listed vehicles, such as listed real estate investment companies (SIICs), or non-listed vehicles, such as collective investment funds in real estate (OPCIs) or real estate investment trusts (SCPIs). OPCIs themselves take one of two forms: either a SPPICAV (an open-ended investment company with predominantly real estate assets) or an FPI (a real estate investment fund).
Which vehicle is most appropriate will depend on a number of factors and circumstances relating to the investor's status, the nature of the transaction, the expected return horizon and certain tax issues (e.g., transfer taxes and value added tax (VAT))."
Discover the Exclusive France chapter in the 5th edition of The Real Estate Investment Structure Taxation Review , contributed by partners Laurent Modave and Bertrand Jouanneau, members of Gide's Tax practice group, published by The Law Reviews in August 2023.
Click here to read the chapter.
