Special Purpose Investment Company (SPIC)

A specialised investment company established under the Special Purpose Investment Companies and Securitisation Companies Act, whose main activity is investing the raised funds in real estate or receivables (forfaiting, securitisation). The company is obliged to distribute at least 90% of its profit in the form of dividends to its shareholders. A special purpose investment company is traded on the stock exchange and offers investors the opportunity to participate in the real estate or receivables market without the need to directly purchase or manage such assets. The activities of these companies are regulated by the Financial Supervision Commission, and they are exempt from corporate tax in order to encourage this type of investment.