Undertaking for collective investment in Real estate

The Undertaking for collective investment in Real estate (OPCI) is a product of real investment bound for the Institutionnel S and of the Particulier S.

presentation

The OPCI is an Undertaking for collective investment non quoted Immobilier whose legal cardre is largely inspired by that of OPCVM. It will have to be managed by a Management company of wallet approved by the Autorité of the financial markets (France) (MFA). The activity of the OPCI will be also framed by a Dépositaire and a body of governorship.

composition of the credit of a OPCI

  • Real : 60% to 90%.
  • Active not real estate (dimensioned land actions, share of Undertaking for collective investment of foreign right, financial Instruments, shares or actions OPCVM): up to 30%.
  • permanent Treasury : 10% at least.

Legal framework and Tax of the OPCI

The OPCI can take 2 forms:
  • Investment trust Real estate (FPI), subjected to the taxation of the land incomes.
  • Investment company to Real Preponderance with Variable capital (SPPICAV), subjected to the taxation of the incomes of movable capital.

General payment

The decree of the bearing April 18th, 2007 on the homologation of a modification of the general payment of the Authority of the financial markets was published in the Official journal of May 15th, 2007.

The general payment defines the characteristics of the OPCI, its methods of constitution and approval like its operating rules and governorship. It defines moreover the rules applicable to the agent and the real appraisers, as well as the methods of information of the carriers.

More

  • {Fr} Arrêté of April 18th, 2007
  • {Fr} Diaporama of presentation of the consultation launched by the MFA on the general draft Regulation relating to undertakings for collective investment real (OPCI)
  • {Fr} the Authority of the financial markets launches a consultation on the general draft Regulation relating to undertakings for collective investment real (OPCI)
  • {Fr} opci.fr another site on the OPCI.

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