The main object of the OPCI (French property regulated fund) is the investment in buildings rented to third parties or buildings constructed exclusively in order to be rented. They can be owned directly or indirectly, including buildings bought before completion. this investment includes any operation necessary for use or resale, the realization of works of any nature in those buildings and, secondarily, the management of financial and deposit instruments.
Defined by the French decree of October 13th 2005, the OPCI completes the existing provision on real estate investments (SCI, SCPI, SIIC) for which it offers all the advantages, while being dedicated to a unique investor, without the obligation to be listed. Under the term OPCI, the decree foresees 2 legal forms:
SCPI and SPPICAV have an essential point in common: they are non-listed funds which, therefore, will not be submitted to fluctuations of financial markets. The SCPI is a legal co-property, with a taxation for private individuals based on real estate incomes, contrary to the SPPICAV, which has an independent legal personality and a taxation for private individuals based on incomes from movable properties.
The OPCI needs the regulatory intervention of several stakeholders
Advantages of the OPCI