R.E.I.C.

Real Estate Investment Companies

A Real Estate Investment Company (R.E.I.C.) is a company formed as a Greek Soci?t? Anonyme with the sole purpose that of acquiring and managing of real estate.

A R.E.I.C. is permitted to invest in:

  • real estate property, in a percentage of at least 80% of its total assets,
  • cash deposits and money market instruments,
  • at least 80% of the shares of an S.A. with the sole purpose of real estate exploitation,
  • at least 80% of the shares of a holding company which solely invests in real estate exploitation companies,
  • at least 25% of the shares of an affiliated company whose purpose is the acquisition, management and exploitation of real estate property,
  • other movable and immovable property serving operational needs of the R.E.I.C., which may not cumulatively exceed (on acquisition) 10% of R.E.I.C.'s assets.

A R.E.I.C. is formed:

  • as a Greek specialized S.A. which issues registered shares
  • serving as a closed-end collective investment scheme
  • with a minimum share capital of 25,000,000 €. The share capital may be formed by contributions of cash, money market instruments, securities and real estate.
  • with a license for establishment and supervision by the Hellenic Capital Market Commission (HCMC)
  • under the condition that it will get its shares admitted to trading
    • on a Regulated Market, within 2 years from establishment, with 24 months possible extension granted by HCMC
    • if within this time frame shares are not listed, REIC's license of operation is revoked by HCMC
  • safekeeping of investments in transferable securities is delegated to a Custodian

PRESS RELEASES - INFORMATION


COMPANY ANNOUNCEMENTS


 
 
 
Search
Toolbox
New Listings Prospectuses

Market

Composite index

Calendar

FinancialCalendarPortlet

Asset Publisher