Property funds
We have a property funds formation practice acting for funds, sponsors, fund managers, investors and advisers. Like our investment funds and private equity funds practices all the main offshore locations including Bermuda, BVI, Cayman Islands Jersey, Guernsey, Isle of Man, Ireland and Mauritius can be covered. We can advise on both unregulated and authorised funds.
On behalf of prospective investors we review structures based in different jurisdictions, including the UK, and we also review all relevant documentation. As a result we are very familiar with all "first draft" provisions, the expectations of prospective investors, the type of amendments which are sought by them, the extent to which proposed amendments are acceptable, possible compromises and (to ensure adherence to sponsors' detailed requirements and timetable) participation in the negotiating process, which can involve a number of different parties in different jurisdictions.
We are involved with structures which are established to deal with the differing tax regimes of key investors' jurisdictions. We understand that investors come from many jurisdictions and we would be able to consider the tax implications for an investor from any particular jurisdiction to ensure that this is taken into account. By this means, we help to ensure that the potential investor base is maximised.
Since our funds practice covers several types of funds (including real estate funds) were are well aware of the key objectives for any proposed structure including tax transparency/exemption from capital gains and income tax, ie, no "double charge" to tax along with limited liability for investors and operational simplicity. There are always a number of fund structures which would meet the objectives of both the property owners and the property managers.
Whilst our funds practice is not limited to property funds, as an enhancement to the holistic approach (where teams within Taylor Wessing work closely across departments and disciplines, we have established CREATE (the Corporate Real Estate Action Team). It may no longer the case that a generalist property adviser can give you all the advice and support you need; complex structures require specialist knowledge and at Taylor Wessing we have formed CREATE to add value to traditional real estate advice. Rapid changes in legislation can create uncertainty. In this ever changing world, CREATE is here to provide you with technically excellent advice given in a practical and commercial manner. Working on a day-to-day basis with real estate clients we understand your commercial needs and we can offer you a full service from the idea/planning stage through to successful implementation.
Our property funds practice is key to the objectives and practice of CREATE.