Practical Issues and Logislative Reforms of the Real Estate Securitization Act：Focusing on the Study of Real Estate Investment Trusts

• Main Authors: Huang, Chien-Shou, 黃千守
• Other Authors: Lin, Kuo-Chuan
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/7p4jv3

碩士 === 國立政治大學 === 法學院碩士在職專班 === 107 === Since the implementation of Clauses of the Real Estate Securitization Act on July 23, 2003, nearly 15 years have passed, the real estate securitization market in Taiwan still has a lot of room for hard work and development. This paper addresses the difficulties and problems in the operation of real estate investment trusts in practice, and the gap and limitation of law. It is expected that the division of authority and decision-making process of the trustees and real estate management institutions of Taiwan's real estate investment trusts, the opening of real estate or related rights of real estate under development and overseas, and the taxation of real estate investment trusts. In order to assist the development of the real estate securitization market in Taiwan, we will discuss the revision direction and supervision suggestions of Taiwan's real estate securitization regulations. This paper believes that Clauses of the Real Estate Securitization Act should be directly amended according to the act, or Financial Supervisory Commission shall issue an administrative order directly specifying and requiring the real estate management institution to act as a real estate investment trust fund to be a public offering company. To clearly define the division of authority and decision-making process of the trustee and the real estate management agency. Moreover, this paper believes that the long-term goal of the amendments to the Real Estate Securitization Ordinance should focus on simplifying the investigation and operation of real estate investment trust funds to invest in overseas real estate and reducing the tax burden of domestic corporate income. This paper hopes to create a distribution market and supervision environment that is more conducive to the development of Taiwan's real estate securitization market through Clauses of the Real Estate Securitization Act. It is also expected that through this article, we will improve the real estate securitization market, so that Clauses of the Real Estate Securitization Act can be the ultimate goal of protecting the majority of investors and promoting the development of the real estate economy.