Frequently Asked Questions

Here are a few of our FAQs that we received from our clients and investors:

  • What are the license requirements for an investment manager (EU and non-EU) of the SIV?

    In the EU we accept MiFID license, in Switzerland SRO and FINMA approved entities. From the US, Australia, Singapore and HK we accept a license equivalent to the above.

  • Are ETI Structures transparent regarding payment of tax on profits and tax deductions?

    The term “transparent” and “non-transparent” does not exist for securities, it is used for collective investments. There is no looking through approach for tax purposes. Investors pay on coupons the tax rate they have to pay for interest received on bonds in their jurisdiction and any profit from selling units is subject to capital gains tax.

  • Are there minimum and maximum volumes for the issuance of ETIs and how does it affect the issuing cost, is it more expensive to issue 100M in ETIs than 10M?

    The minimum volume is 1M that has to be reached within 6 months, there is no maximum. The set up costs are independent of the issuance size.

  • Is a market making agreement required with a market maker for a Frankfurt Open Market listing?

    Yes, we arrange for this

  • Are there other (international, e.g. Asian) exchanges the ETIs can be (dual-) listed at?

    Not at the moment

  • What is the minimum denomination of an ETI?

    1000 Euro

  • Can investors in EU countries usually buy ETIs through their existing (online) brokerage relationship?

    Yes, in the case of the broker having access to the Frankfurt Exchange. Please see a list of brokers by countries here

    .

  • Can the ETIs be structured in a way that they can be sold by investors only after a certain period of time, e.g. a 12 months lock-up period or are they always freely exchange trade-able like shares?

    ETIs can have a lock up period for redemption with the issuer, however they are freely trade-able on the secondary market

  • Are there any volitary restrictions or can the price of an ETI go up/down significantly on a single day?

    There are no volitary restrictions

  • Do you offer support in the promotion of the ETIs?

    No, we provide services to the issuer, but not promotion of the securities.

  • Are there any corporate taxes on the level of the securitisation company?

    A securitisation vehicle is always structured in a tax-neutral way.

Did not find the answers to your questions? Please get in touch with us so that we can solve any queries you may have!

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