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REITs AND InvITs ADVISORY AND COMPLAINCE

Following the global success story, India also introduced the concept business trust dedicated to real estate and infrastructure sector. REIT and InvIT are structures a s business trusts which pulls funds from investors and invests in income-yielding real estate projects and infra projects.

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In India, the regulatory body SEBI introduced REIT’s and InvIT’s regulations in 2014 to attract fresh and patient capital in these sectors and democratise investment in these sectors to retail investors as well and broad base investments in these sectors. REITs and InvITs are structured as business trusts having a trustee, manager and other service providers. The regulations are fairly structures and have also been liberalised to make it more popular and accessible to public at large. REITs and InvITs are mandatorily listed on Indian stock exchanges to provide liquidity to investors and also ensure transparency.

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At Artes we have team members who have been involved with regulators while the regulations are being crafted and have also practically worked in establishing and operating such business trusts. We provide a range of services to asset owners and fund managers in the entire life cycle of REITs and InvITs. Our services comprise of:

  1. Providing strategic advice to developers and asset owners to evaluate this opportunity to access capital markets, assess feasibility based on the current asset portfolio and future pipeline, provide, their expectations, etc.  

  2. Assisting in ascertaining potential valuation of assets, transitioning of select assets in REIT or InvIT structure, etc.

  3. Advising on optimum structure both from regulatory and tax stand point including dilution of owner’s stake post roll out of REIT or InvIT

  4. Reviewing various documents prepared by Legal Counsel of clients and assisting in finalising the same considering tax and regulatory nuisances

  5. Assisting in setting up business trust, asset management company and other legal entities as well as facilitating compliances

  6. Assisting in obtaining required approvals and registrations from SEBI, the Authority monitoring these business trusts

  7. Assisting Investment Bankers and Merchant Bankers by extending required support for listing of REITs and InvITs

  8. Assisting REITs or InvITs, managers and other entities in various compliances under SEBI and Tax regulations

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