ARTICLE · 29 OCTOBER 2010

Finnish REIT Legislation Approved By the EU Commission

Borenius

Contributor

Borenius

Borenius

Borenius is a premier Finnish corporate law firm. As a full-service firm, we deliver top-tier...

View firm profile

Explore more from Borenius

The Finnish Act on Real Estate Investment Funds has been in force since 1998 (1173/1997).

FinlandStrategy

Janne Juusela

Paulus Hidén

The Finnish Act on Real Estate Investment Funds has been in force since 1998 (1173/1997). Due to tax and regulatory reasons, no real estate investment funds as defined by this Act have so far been established. Collective real estate investing has traditionally been carried out through listed real estate investment companies (private and institutional investors), or alternatively through closedended funds (limited partnerships) open to institutional investors where fiscal transparency is combined with less regulatory constraints.

The Finnish legislation introducing specific tax benefits to certain real estate funds ("REIT") is an attempt to make residential real estate investing more attractive. The European Commission has approved the Finnish REIT legislation in May 2010 and the Finnish Parliament is currently processing amendments required by the Commission. The legislation should be applicable from fiscal year 2010 onwards (Bill 113/2010).

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Finland Proposes A New Data Centre Register – Draft Legislation Open For Comments

FinlandStrategy

Castrén & Snellman

Towards The New

Castrén & Snellman

Expert's Dilemma – Too Lawyer To Give Valuable Advice?

FinlandStrategy

Dittmar & Indrenius

Turn On The Lights

FinlandStrategy

Castrén & Snellman

It's Time To Change Our Minds (and The Way We Do Things)

FinlandStrategy

Dittmar & Indrenius

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

StrategyBorenius

Finland Proposes A New Data Centre Register – Draft Legislation Open For Comments

The Finnish government has proposed establishing a national data centre register with mandatory reporting obligations for operators of facilities with at least 0.5 MW IT power demand. The draft legislation would require detailed disclosures about ownership, energy consumption, infrastructure needs, and operational plans, with the National Emergency Supply Agency maintaining oversight and enforcement authority.

FinlandStrategy

Castrén & Snellman

Finland's Recovery And Resilience Plan

The Council of the European Union, the European Parliament and the European Commission have agreed on a temporary recovery instrument, Next Generation EU ("NGEU"), to stimulate the European economy after the COVID-19 crisis.

FinlandStrategy

Towards The New

We are living in exceptional times in Finland. Our economy is struggling, and we desperately need to find ways to create growth. In addition, our relations with Russia have severely changed and the border...

Castrén & Snellman

Proposed Changes In The Finnish Companies Act Likely To Affect Structuring Of M&A Transactions

A Ministry of Justice working group has proposed radical amendments to the regulation of Finnish limited liability companies.

FinlandStrategy

Finland faces new challenges in the telecommunications market

FinlandStrategy

Establishing A Company In Russia - Possibilities And Risks

FinlandStrategy

Castrén & Snellman

Bill For The Amendment of The Copyright Act Introduced

On 18 March 2004, the Finnish Government introduced bill HE 28/2004 to the Finnish Parliament aiming to implement the Digital Copyright Directive (2001/29/EC).

FinlandStrategy

Turn On The Lights

I once heard a story about an old lady who, whenever she comes home, always turns on the lights and calls out a greeting to her home.

FinlandStrategy

Castrén & Snellman

Foreign Investors In St. Petersburg

FinlandStrategy

Castrén & Snellman

Prospects for Foreign Operations in St. Petersburg

FinlandStrategy

Castrén & Snellman

New Act On Payment Terms In Commercial Contracts

A discussion on the new Act on Payment Terms in Commercial Contracts which will enter into force on 16 March 2013.

FinlandCorporate/Commercial Law

Regulation (EU) No 650/2012 On Successions

The European Parliament and the Council of the European Union have passed a regulation which aims at simplifying inheritance settlement and avoiding disputes when the will of a deceased involves the legal systems of more than one Member State.

FinlandFamily and Matrimonial

Carry Forward of Capital Losses Extended from Three To Five Years

According to current regulations in the Income Tax Act, capital losses derived from the sale of assets are deductible from capital gains in the year when the loss is incurred and during three following fiscal years.

New Types of Closed-End Funds to The Finnish Market

Some time ago the only real closed-end funds managed by Finnish players were private equity and venture capital funds. Even on that front the past few years were really not labelled by active fund-raising.

FinlandFinance and Banking

Amendments Are Proposed To The Finnish Medicines Act

A dsiscussion on the amendments proposed to the Finnish Medicines Act.

FinlandFood, Drugs, Healthcare, Life Sciences

ECJ Rulings in Database Cases

The European Court of Justice (the "ECJ") handed out four closely linked judgments on 9 November 2004 concerning the exploitation of horse racing data and fixtures list data in betting coupons.

FinlandLitigation, Mediation & Arbitration

Finnish Tonnage Tax Reform Enacted

The bill amending Finnish tonnage tax legislation has been passed by the Finnish parliament and the new regime has entered into force as of 1 March 2012.

Public Procurement 2010 - A Practical Insight To Cross-Border Public Procurement

There are two main pieces of national legislation regulating the award of contracts by the contracting authorities: the Act on Public Contracts (Laki julkisista hankinnoista 348/2007; "APC") and the Act on the Procurement Procedures of Entities Operating in the Water, Energy, Transport and Postal Services Sectors (Laki vesi- ja energiahuollon, liikenteen ja postipalvelujen alalla toimivien yksiköiden hankinnoista 349/2007; "Utilities Act") which entered into force on 1 June 2007.

FinlandGovernment, Public Sector

The U.S. FTC Strengthens Regulation For Child-Directed Sites And Servcies

Amendments to the Children's Online Privacy Protection Rule, issued by the U.S. Federal Trade Commission on December 19th 2012, will tighten the privacy requirements for child-directed websites and mobile apps.

The Finnish Copyright Act Reform – Is Your Organisation Ready?

The upcoming modernisation of the Finnish Copyright Act is the most significant change for copyright legislation in Finland in the last two decades.

FinlandIntellectual Property