jurisdiction
Updated on December 2023.
Investment vehicle
- Real estate investment fund (ImmoInvF)
1. Form
- Contractual
2. Tax Treatment
- Exempt at fund level
- Tax at investor level
- Gains from sale/disposal of fund units taxable at investor level
- Double taxation treaties may apply on the fund level in case of real estate located outside of Austria
3. Transfer Tax
- Real estate transfer tax of 3.5% (generally calculated on the basis of the consideration (e.g. purchase price))
- Stamp duty on the mortgage agreement
- Registration fees applicable to the mortgage
4. Listable
- Yes
5. Open- or closed-ended
- Open-ended
6. Regulatory Supervision
- Regulated as a licensed AIFM
- In addition, the management company is licensed as a credit institution
7. Investor Restrictions
- No (sanctions regulations may apply)
8. Best Feature
- Final withholding tax at special rate (no inclusion into the tax return, unless opted otherwise) available in many cases
- Assets are held on trust for the unitholders (and can be segregated in the insolvency of the management company)
9. Worst Feature
- Statutory investment restrictions
- Fund rules are subject to regulatory approval
10. Best Used For
- Real estate
Disclaimer: “Information in this guide for any particular country or topic may have been subject to change since the date to which it was prepared”
