Hance Law assist clients to take advantage of a suitable investment environment for real estate investment vehicles in Luxembourg. Next to registration services for various funds Hance Law specializes in private equity and venture capital services, including special investment funds, SOPARFI, and a family wealth management company, SPF.

Within the framework of the Business and Commercial practice Hance Law provides extensive assistance in business and commercial transactions, corporate structuring advice, business sale or purchase, registration and counselling in connection with intellectual property rights. The SICAR is subject to the Law dated 15 June 2004 on the investment company in risk capital (the “SICAR Law”) as amended by the Law of October 24th, 2008. SICARs may adopt any one of the following corporate forms:

 Public limited company
 Limited liability company
 Partnership limited by shares
 Limited partnership
 Cooperative company organised as a public limited company

Holding Luxembourg invests its assets in securities representing risk capital in order to make its investors profit from results of assets’ management in consideration for the risk encountered. The term risk capital comprises direct or indirect contributions of assets into entities to enable/facilitate their launch, their development or their listing on a stock exchange.

Securities issued by a SICAR are reserved to “informed investors” (knowledgeable investors or investors investing at least EUR 125,000). However, there are no restrictions imposed on portfolio investments or investment policies. Dividend distribution is neither prescribed nor limited. The UCITS Luxembourg brought greater flexibility in terms of available fund vehicles and applicable investment rules.

Subject to adequate offer document disclosure, there are no restrictions on target asset classes. It is available to funds whose eligible investors comprise: institutional; professional; self-certifying sophisticated private investors with a minimum investment of €125,000; investors certified as sophisticated by a regulated intermediary (no minimum investment required); and carried interest investors acting in the management of the SIF. SIF-SICAV is also outside scope in terms of withholding tax and net wealth tax. SICAR can register for VAT purposes. Management and administration services are however exempt from VAT.