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ARTICLE · 10 MARCH 1995

Financial Law - Capital Markets

Linklaters De Bandt
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BelgiumAntitrust/Competition Law
Belgian government approves draft Royal Decree on Legal Vehicles For Collective Investments in Real Properties.

The Belgian government has, subject to some amendments concerning investment in residential properties, approved on 3 March 1995 a draft Royal Decree on Legal Vehicles for Collective Investments in Real Properties ("Societe d'Investissement Immobiliere a Capital Fixe"/"Vastgoedbeleggingvenootschap met vast Kapitaal"; hereinafter "SICAFI").

This Royal Decree regulation complements the regime of Belgian collective investment institutions organised under the Law of 4 December 1991 on financial operations and financial markets.

The SICAFI must be organised as a limited liability company (or a limited partnership by shares) with a capital of at least BEF 50,000,000. It must be licensed by the Banking and Finance Commission and must undertake to apply for listing of its shares on a stock exchange.

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