12 August 2019
Portugal recently approved the regulatory framework for Real Estate Investment and Management Companies (SIGI), the country’s answer to Spain’s socimis and REITs in the US and the UK.
However, there have been questions regarding any possible tax events being generating by the conversion of investment funds and corporations into the new structure. In answer, Portugal’s tax authorities issued a note stating that the switch from one to the other will not incur any taxes on the transfer of assets, as there is no actual transfer of assets. In other words, the company remains the same, just under a new regulatory structure.
Original Story: Idealista
Adaptation/Translation: Richard D. K. Turner