Application, income, resale, costs

As with any property investment, investors should make sure that investing in the CORUM SCPI is suitable to their financial position and investment objectives. Prior to any investment, you should read the information documents, in particular those related to the costs and risks of an SCPI investment.

How to invest?

Once you know how much you want to invest in the CORUM SCPI and how you want to invest (with your own money, with borrowed money or with a split of ownership), the process is easy. You only have to send us:

  • the subscription form, duly completed and signed,

  • copy of both sides of a valid national identity card or passport of the applicant(s),

  • proof of address issued within the past 3 months,

  • payment for your investment (transfer or cheque for the amount you wish to invest made payable to the CORUM Convictions SCPI),

  • proof of source of funds, if applicable,

  • the new investor questionnaire, duly completed,

  • details of the bank account where you want to receive dividend payments.

Once your shares are registered in your name, you will receive a share certificate.

What about the income?

Monthly income

At the end of the period to dividend entitlement, i.e. on the 1st day of the 6th month following the subscription date and your payment, you will start to receive dividends. For instance, if you invested in CORUM shares on 15 February, any dividends attached to your shares will start to accrue from 1 August. Since dividends are paid monthly in arrears, in September you will receive a dividend for the rental income generated in August.

You should also take into account that you do not have to worry about the management of the properties for the whole duration of your investment: the assets are selected, acquired and sold by the management company, in return for a management fee equal to 13.20% (excluding taxes) of rents received by the SCPI.

Periodic information

Throughout the year, you receive information about the CORUM SCPI: quarterly newsletter, emails, annual management report. Also, during the tax season, we send you a summary to help you file your tax return. The amounts to be declared and fields to be filled out are clearly indicated.

The payment of dividends is not guaranteed and may rise as well as fall depending on the situation of the real estate market and the rental terms of the properties.

The payment of dividends is not guaranteed and may rise as well as fall depending on the situation of the real estate market and the rental terms of the properties.

Can I resell my shares?

What happens if I want to sell my CORUM SCPI shares?

  • You can ask at any time for your shares to be fully or partially sold. Of course, as with any real estate investment, the CORUM SCPI is subject to the ups and downs of the property market.

  • Redemption requests are processed immediately and matched with subscription requests, provided that subscription requests have been made for at least the same amount. The management company does not guarantee that you will be able to redeem your shares.

What are the steps to be taken?

  • You only have to send your request to sell shares by registered mail with acknowledgement of receipt to CORUM at 6 rue Lamennais, 75008 Paris, France.

  • Redemption requests will be matched with new subscription requests received by CORUM.

  • CORUM will then pay you an amount equivalent to the redemption price of the shares as of the date of the request. It is equal to the subscription price less a subscription fee of 11.96%.

What are the costs?

Costs related to the management company

Subscription fee

It is intended to cover the costs inherent in the purchase of any real estate asset and it is included in the subscription price of each share.
It is equal to 11.96% (including taxes) of the purchase price of an SCPI share.​

Management fee

This is the fee received by the management company. It is equal to 13.20% (including taxes) of any property income received and net financial income.

Transfer fee

This fee of €240 (including taxes), applies to all sales, direct transfers, and transfers made without valuable consideration (gifts/inheritance), regardless of the number of shares concerned. This is a processing fee to be paid by the seller, donor or beneficiary.

Fee on property capital gains

If a capital gain is realised, the management company receives a fee on the day of signing of the final deed. This fee amounts to:

  • 1% (including taxes) of the net selling price if it is less than €5m;

  • 0.75% (including taxes) of the net selling price if it is greater than or equal to €5m.

Fee for supervision and monitoring of major works to the properties

In case of works resulting in an extension of rental floor area, a fee for supervision and monitoring of works to the properties is received by the management company. Such fee is equal to 1% (excluding taxes) of the amount of works recorded as fixed assets (excluding taxes) and is gradually received as these works are recognised.

Tax treatment of income from the SCPI

As in the case of a directly held property investment, the income generated by SCPIs is subject to taxation. As a shareholder, your tax liability is in proportion to your holding in the CORUM SCPI and depends on the nature of the income from the SCPI:

  • rental income. Rental income represents the bulk of the SCPI's income. It is subject to income tax under the "rental income" section. Income generated abroad is subject to taxation in the relevant countries. It is declared in France and may be deducted from French tax liability in order to avoid double taxation;

  • financial income. This is the income from the investment of available cash and it is subject to income tax under the "investment income" category.

Each year, we send you a clear, explanatory note to help you file your tax return.