Real estate

Briefings in English - 2008

On October 30, 2008, the U.S. Internal Revenue Service gave notice that it proposes issuing regulations treating a governmental permit to lease, own or use a toll road, toll bridge or other infrastructure project (such as a concession agreement) as an interest in U.S. real property subject to U.S. tax under the Foreign Investment in Real Property Tax Act. The notice itself and the regulations if proposed will significantly affect non-U.S. investors’ approach to U.S. infrastructure projects. Comments on the proposed rulemaking are due by January 29. (November 2008)

This booklet contains an abstract of the German legislation relating to German Real Estate Investment Trusts (G-REITs) followed by the German-language text of the law with an English translation. The Act on the Introduction of German Real Estate Stock Corporations with Listed Shares (German REIT Introduction Act) came into force on 1 June 2007 with retroactive effect as of 1 January 2007. (May 2008)

This guide outlines the main legal factors involved in real estate investments in Germany and provides an introduction to the real estate business. It does not make redundant the detailed advice of qualified legal counsel on specific cases or transactions. The legal topics covered here are very complex and dealing with them in depth would go well beyond the scope of this guide. (March 2008)

This guide covers the main aspects of investing in commercial real estate in Austria, Belgium, England and Wales, France, Germany, Italy, the Netherlands and Spain. It summarises types of ownership and property rights, the acquisition process, legislative controls on the use and development of land and taxes and other costs involved in acquiring real estate. (February 2008)

Briefings in English - 2007

The new Italian rules for real estate funds and tax rules. New Italian civil law rules for real estate funds. Italian tax rules for real estate investment funds. (November 2007)

This briefing explains the provisions of Dubai’s new escrow law and how to comply with it. The rules affect all property developers who sell units off-plan and receive monies before completion of the development. All those subject to the escrow law must comply with it by 28 December 2007. (August 2007)

2007 budget legislation sets out the rules governing Italian real estate investment company (Società di Investimento Immobiliare Quotata) or SIIQ. This client guide briefly outlines the key features of the SIIQ as well as the applicable tax treatment. (March 2007)

The new Italian civil law and tax rules. (February 2007)

Briefings in English - 2006

This guide addresses the requirements for entering into the UK REIT regime and maintaining UK REIT status; the tax treatment of a UK REIT; the issues to consider when converting into a UK REIT; and some of the practical issues that will be relevant to UK REITs going forward. (December 2006)

Once it comes into effect, the RPL (applicable to real property within the Dubai International Financial Centre (DIFC) only) will apply to all real property granted or leased by the DIFC Authority. Property granted or leased before such date will also be brought within its provisions. (November 2006)

Vietnam's housing law is the first law to set out a comprehensive legal framework for the ownership, lease, use and management of houses, including apartments, by local and foreign individuals and organisations. The law was adopted by the Vietnamese national assembly on 29 November 2005 and became effective on 1 July 2006. Given the scattered state of prior regulations and the surge in property development activities in Vietnam, the new law is a welcome clarification of the rights and obligations of the parties to housing transactions. (August 2006)

Italy's value added tax (VAT) regime for real estate is amended in a new law decree. Decree 223/2006 came into force on 4 July 2006. As a law decree it will no longer remain in force, with retroactive effect, unless converted into law within 60 days of that date. (July 2006)

This briefing looks at developments concerning UK real estate investment trusts (REITs) following the Budget on 22 March 2006. (March 2006)

This guide covers the major legal aspects of acquiring commercial property from the viewpoint of both an investor and an occupier. The guide is designed to assist those with little or no experience and those who have some experience but wish to acquire a more detailed knowledge. (March 2006)

Briefings in English - 2005

Discussions on the introduction of German real estate investment trusts (REITs) are gaining momentum. It is being proposed that future German REITs shall be organised as stock exchange listed real estate companies and, to some extent, shall be transparent for German income tax purposes. (November 2005)

Real estate investment trusts (REITs) authorised by the Securities and Futures Commission can now invest in property outside Hong Kong. In this briefing we look at the issues potential sponsors of REITs and their advisers need to consider when structuring a REIT with respect to properties in the PRC, such as tax and regulatory issues. (June 2005)

Briefings in English - 2003

This paper examines the key features of real estate investment trusts (REITs) as proposed in the consultation paper and the draft code, and highlights some of the important considerations which may determine the success or otherwise of REITs in Hong Kong. (May 2003)

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