FIIs - Brazil REITs

FIIs Brazil REIT benefits

Don't envy my great retirement -- Join the fun!

Click to discover my secret to ever-growing income from investments for life -- whether the stock market goes up or down

In 1993 Brazil launched its version of Real Estate Investment Trusts (REIT), with what are known as Fundo de Investimento Imobiliario, or FII.

This was from Federal Law 8668/93 and instruction 205/94. Now it is by Rulings 472/08 from Comisao de Valores Mobiliarios/Brazilian Securities Commission (CVM). And regulated by the Rules for Fund Operation, where they're registered, then submitted for approval by the Comissão de Valores Mobiliários/Brazilian Securities Commission (CMV).

FIIs are Brazilian Real Estate Investment Trusts

FIIs can be listed on the stock market, the Bovespa (Sao Paulo Stock Exchange), have at least 50 investors. Since 2006, they have been tax free for individuals, but not for companies -- provided those persons own less than 10% of the FII.

At least 95% of operating income, and at least 95% of capital gains, must be distributed to unit holders on a semi-annual basis, at the end of June and December of every year.

This income must be from the operation of real estate -- rent and capital gains. Income from fixed income investments is subject to taxes and tax withholding of distributions. The use of leverage is forbidden.

These Brazilian REITs can own and operate property investments. However, there are more private ones than publicly listed ones. It is most often used as a special-purpose entity, and funded by private capital. Existing entities can not be transformed into a FII.

A Fundo de Investimento Imobiliario is a REIT in Brazil

FIIs must be approved by the CVM, and so must subscriptions for units. They must be formed and managed by financial institutions authorized by the CVM.

There is no required minimum capital. An FII is not a legal entity, but a contractual arrangement between investors and a fund manager. They are closed-end, and can have either a limited or indefinite duration.

Most FIIs are small. They own just one, or a portion of one, property. So most Brazlian REITs own one office building or one shopping center or, in one case, one hotel.

A construction company may not hold more than 25% interest in a FII. Unit holders may be legal entities or individuals in Brazil or outside Brazil. There is no discrimination between Brazilian and foreign investors.

A FII is classified as an investment condominium. They are forbidden by law to use leverage, so all their positions are 100% equity.

The CVM website lists 133 FIIs. However, I crosschecked against them with the Sao Paulo Stock Exchange website listed companies. None of them were listed as being publicly traded. However, other sources say that FIIs are publicly listed there.

Here is the CVM list of Fundos de Investimento Imobiliarios:

1. AQUILLA FUNDO DE INVESTIMENTO IMOBILIÁRIO

2. BB FII PROGRESSIVO

3. BB RENDA CORPORATIVA FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

4. BC FUNDO DE FUNDOS DE INVESTIMENTO IMOBILIÁRIO - FII

5. BTG PACTUAL FII - FII DESENVOLVIMENTO II

6. BTG PACTUAL FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII RECEBÍVEIS IMOBILIÁRIOS

7. BTG PACTUAL FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII RENDA II

8. CSHG BRASIL SHOPPING - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

9. CSHG DESENVOLVIMENTO DE SHOPPINGS POPULARES - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

10. CSHG JHSF PRIME OFFICES - FUNDO DE INVESTIMENTO IMOBILIÁRIO FII

11. CSHG LOGÍSTICA - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

12. CSHG REAL ESTATE - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

13. CSHG RECEBÍVEIS IMOBILIÁRIOS BC - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

14. DOVEL FII

15. EXITUS FII - FII

16. F BRASILIO MACHADO II

17. F FORTALEZA II

18. F SIGMA II

19. FATOR VERITA FUNDO DE INVESTIMENTO IMOBILIARIO

20. FII - PRESIDENTE VARGAS

21. FII ANCAR IC

22. FII ANHANGUERA EDUCACIONAL

23. FII ARAUCÁRIAS

24. FII BB VOTORANTIM JHSF CIDADE JARDIM CONTINENTAL TOWER

25. FII BCO BBM BARRA FIRST CLASS

26. FII BM ASSET

27. FII BRAZILIAN CAPITAL REAL ESTATE FUND

28. FII CAIXA CEDAE

29. FII CAIXA DESENVOLVIMENTO IMOBILIÁRIO

30. FII CENTRO TEXTIL INTERNACIONAL

31. FII COMERCIAL PROGRESSIVO

32. FII COMERCIAL PROGRESSIVO II

33. FII COMPREV

34. FII CONTINENTAL SQUARE FARIA LIMA

35. FII CR2 LARANJEIRAS

36. FII CR2 RJZ II

37. FII DAYCOVAL RENDA ITAPLAN

38. FII ED ALMIRANTE BARROSO

39. FII EDIFÍCIO CASTELO

40. FII EDIFÍCIO OURINVEST

41. FII EUROPAR

42. FII EXCELLENCE

43. FII FASHION MALL

44. FII FCM

45. FII FIDELIDADE

46. FII GEO GUARARAPES

47. FII GRAND PLAZA SHOPPING

48. FII GWI CONDOMÍNIOS LOGÍSTICOS

49. FII HERMES

50. FII HOSPITAL DA CRIANÇA

51. FII HOTEL MAXINVEST

52. FII INCA II

53. FII MANHATTAN

54. FII MAX RETAIL

55. FII MEMORIAL OFFICE

56. FII MERCANTIL DO BRASIL

57. FII MISTRAL

58. FII NOSSA SENHORA DE LOURDES

59. FII NOVA MORADA

60. FII ONIX

61. FII PANAMBY

62. FII PARQUE DOM PEDRO SHOPPING CENTER

63. FII PATEO MOINHOS DE VENTO

64. FII PATRIMONIAL II

65. FII PATRIMONIAL IV

66. FII PENINSULA

67. FII PHORBIS

68. FII PREMIER REALTY

69. FII PRIME PORTFOLIO

70. FII PROJ AGUA BRANCA

71. FII PROPERTY

72. FII PROPERTY INVEST

73. FII RB LOGÍSTICA

74. FII RIO BRAVO RENDA CORPORATIVA

75. FII RODOBENS

76. FII RUBI

77. FII SÃO FERNANDO

78. FII SHOPPING GUARARAPES

79. FII SHOPPING PARQUE D PEDRO

80. FII SHOPPING PATIO HIGIENOPOLIS

81. FII SHOPPING WEST PLAZA

82. FII SUPERQUADRA 311 NORTE

83. FII THE ONE

84. FII TORRE ALMIRANTE

85. FII TORRE NORTE

86. FII TROPICAL

87. FII VEREDA

88. FII VIA PARQUE SHOPPING

89. FII VILLE DE FRANCE

90. FII VOTORANTIM SECURITIES

91. FLORIPA SHOPPING - FII

92. FP F ANDROMEDA FII

93. FP F ANDROMEDA FII

94. FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII CAMPUS FARIA LIMA

95. FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII TOP CENTER

96. FUNDO DE INVESTIMENTO IMOBILIARIO BM CENESP - FII

97. FUNDO DE INVESTIMENTO IMOBILIÁRIO BÚSSOLA

98. FUNDO DE INVESTIMENTO IMOBILIÁRIO CAIXA INCORPORAÇÃO

99. FUNDO DE INVESTIMENTO IMOBILIÁRIO DA REGIÃO DO PORTO

100. FUNDO DE INVESTIMENTO IMOBILIÁRIO DIAMANTE - FII

101. FUNDO DE INVESTIMENTO IMOBILIÁRIO ELDORADO - FII

102. FUNDO DE INVESTIMENTO IMOBILIÁRIO PORTO MARAVILHA

103. FUNDO DE INVESTIMENTO IMOBILIÁRIO VOTORANTIM SECURITIES II

104. GUANABARA FII

105. JPP FII - FII

106. JS REAL ESTATE MULTIGESTÃO - FII

107. KINEA RENDA IMOBILIÁRIA - FII

108. LAGRA FII

109. LOGINVEST FII INDUSTRIAL

110. MAIS SHOPPING LARGO 13 FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

111. MSL 13 - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

112. OPPORTUNITY FII

113. RB CAPITAL AGRE - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

114. RB CAPITAL ANHANGUERA FII

115. RB CAPITAL DESENVOLVIMENTO RESIDENCIAL II FUNDO DE INVESTIMENTO IMOBILIARIO - FII

116. RB CAPITAL GENERAL SHOPPING SULACAP FII

117. RB CAPITAL PATRIMONIAL V - FII

118. RB CAPITAL PRIME REALTY I - FII

119. RB CAPITAL RENDA I FII

120. RB CAPITAL RENDA II FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

121. REAL MINAS FII

122. REP 1 CCS - FII

123. RIO BRAVO CIBRASEC FUNDO DE INVESTIMENTO IMOBILIÁRIO

124. SABIÁ FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

125. SALUS FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

126. SCP FII

127. STARX FII - FII

128. TAG GR IV - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

129. TAG OAR - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

130. TP CORPORATE - FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

131. TRX REALTY LOGÍSTICA RENDA I FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

132. VENTURA II-A FI IMOBILIÁRIO FII

133. WM RB CAPITAL FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII

Now download The Death of Capital Gains Investing, your first step toward experiencing for yourself the joy of securing your retirement through income investing!

It's easy. Just enter your first name and email address into the form below.

(NOTE: After you click the button, you'll be taken to a thank you page with the link to download your free report.)

Copyright 2007-2017 by Gold Egg Investing LLC. All rights reserved.

Income Investing Site Full Disclaimer and Website Agreement