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Estruturas jurídicas e modelos de governação do investimento imobiliário
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Abstract(s)
A presente dissertação versa sobre a análise dos veículos de investimento imobiliário em Portugal, cujo foco incide sobre os organismos de investimento coletivo alternativo imobiliário, as sociedades de investimento e gestão imobiliárias e, ainda, o equity crowdfunding imobiliário. Num primeiro momento, são analisados os desafios suscitados por cada um destes veículos e, sob uma visão crítica do direito constituído, desenham-se sugestões de alteração às soluções existentes. Além disso, é feito um exame comparativo destes veículos sob a égide dos modelos de governação, onde são realçados os problemas de corporate governance levantados na gestão operacional destes veículos, tal como, mecanismos de controlo, influência dos investidores, mecanismos de saída e, ainda, conflitos de interesses. O objetivo do estudo é concluir pelo veículo que em termos estruturais, funcionais e de governação melhor se adequa às especificidades do investimento imobiliário.
This dissertation deals with the analysis of real estate investment vehicles in Portugal, with a particular emphasis on alternative real estate collective investment undertakings, real estate investment trusts, and real estate equity crowdfunding. Initially, the challenges posed by each of these vehicles are analysed, and from a critical perspective of established law, suggestions for amendments to existing solutions are outlined. Additionally, a comparative examination of these vehicles is conducted under the remit of governance models, highlighting the issues that corporate governance raises in the operational management of these vehicles, such as control mechanisms, investor influence, exit mechanisms, and conflicts of interest. The objective of the study is to determine which vehicle, in structural, functional, and governance terms, best suits the peculiar features of real estate investment.
This dissertation deals with the analysis of real estate investment vehicles in Portugal, with a particular emphasis on alternative real estate collective investment undertakings, real estate investment trusts, and real estate equity crowdfunding. Initially, the challenges posed by each of these vehicles are analysed, and from a critical perspective of established law, suggestions for amendments to existing solutions are outlined. Additionally, a comparative examination of these vehicles is conducted under the remit of governance models, highlighting the issues that corporate governance raises in the operational management of these vehicles, such as control mechanisms, investor influence, exit mechanisms, and conflicts of interest. The objective of the study is to determine which vehicle, in structural, functional, and governance terms, best suits the peculiar features of real estate investment.
Description
Keywords
Governação Investimento imobiliário Organismos de investimento coletivo Sociedades de gestão e investimento imobiliário Crowdfunding imobiliário Corporate governance Real estate investment Collective investment undertakings Real estate investment trusts Real estate crowdfunding
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CC License
Without CC licence