Investment company in risk capital

The SICAR is a vehicle dedicated to investments in risk capital. Risk capital being defined as: the investment in entities:

It is possible for non-professional well-informed investors to set up a SICAR. One of the distinctive features of the SICAR is that it is not subjected to the principle of risk-spreading. This allows the SICAR to invest up to 100% of its assets in the same investment.

The SICAR can be used for a wide range of investments or purposes. For example investments related to buy-outs, venture capital, opportunistic real estate, infrastructure, renewable energy and microfinance. However, investments in derivatives (except for hedging purposes) and in hedge funds are not allowed.

As is the case for SIFs, the SICAR’s tax regime is also extremely favorable. SICARs are not subjected to municipal business tax (for tax transparent SICARs), corporate income tax on revenues or capital gains from securities, wealth tax and withholding tax on dividend distributions and liquidation proceeds.

Like the SIF, the SICAR’s management fees are also VAT exempted.

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