Law of Collective Real Estate Investment Schemes

A collective real estate investment scheme may not be offered, advertised, or marketed, and funds may not be raised therefor without the approval of the Capital Market Authority and prior to obtaining a license from the Authority in accordance with the provisions of this Law and the Regulations. Such scheme shall satisfy the following requirements: 1. The real estate subject of the collective real estate investment scheme must be owned pursuant to a valid title deed with sound integrity pursuant to a statement from the issuing authority. 2. The approvals necessary for the development of the real estate subject of the collective real estate investment scheme must be obtained from the relevant agencies, subject to the Regulations. Chapter 2: Licenses and Subscriptions