The « SREIF » (Specialized Real Estate Investment Fund), a new investment vehicle under Belgian law

Belgium recently introduced a new legal framework offering an attractive new real estate investment vehicle, i.e. the Specialized Real Estate Investment Fund (“SREIF”) (“Fonds d’Investissement Immobilier Spécialisé” (FIIS) / “Gespecialiseerd Vastgoedbeleggingsfonds” (GVBS).

This new vehicle offers interesting new opportunities to structure investments in Belgian and foreign real estate assets with an appropriate tax regime. For instance, investment and operational income is exempt from corporate taxation at the level of the SREIF. In addition, a favorable treatment applies in relation to income derived by the fund from foreign real estate income.

For further information, please refer to the following presentation (see 2017 01 SREIF Presentation Rulkin and Partners ) or contact one of the lawyers listed below:

Adrien Hanoteau – Partner (

Natali Afsar – Associate (