ROMANIA

Exista posibilitatea atragerii de finantari cu ajutorul  Comunitatii Europene.

Prezentat la finele anului 2014, Planul Juncker este destinat relansarii cresterii economice si crearii de locuri de munca in Europa. Planul urma sa permita mobilizarea a aproximativ 315 miliarde de euro timp de trei ani via crearea unui fond pentru investitii strategice, EFSI.

In forma sa actuala, Fondul european pentru investitii strategice (EFSI) este concentrat pe infrastructura si inovatie, aceste domenii urmand sa beneficieze de cele mai multe fonduri si ar trebui sa genereze investitii de 240 miliarde de euro dintr-un total de 315 miliarde de euro. Restul de 75 de miliarde de euro ar urma sa fie generate prin finantarea IMM-urilor.

Pentru cei care au proiecte concrete care au nevoie de finantare se pot depune direct la Bruxelles, se face o evaluare a comisiei europene ( certifica fezabilitatea proiectului ) si apoi se publica pe o platforma a comunitatii europene.

Practic proiectele sunt evaluate de un department al comunitatii europene iar apoi se public ape platforma lor online. Cel mai  mare avantaj este ca proiectul are avizul si certificarea comunitatii europene iar bancile si fonduri care sunt conectate la platfoma pot accesa proiectele cu incredere.

Mai jos aveti explicatii direct in engleza

Pentru atragerea finantarilor direct de la Bruxelles,  de la finantatori direct din Europa sau din lume,  va rugam sa ne contactati pe email xbs.international@gmail.com  sau telefon  0756.313.842

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The European Investment Project is a brand new portal enabling EU based project promoters – public or private – to reach potential investors worldwide. It is part of the Investment Plan for Europe initiative to mobilise investment, promote economic growth and create more jobs across the EU. It responds to investors’ desire to see more potential EU investment opportunities in a central information platform. The Portal is designed as a central EU project information platform allowing you to find investment opportunities according to your own preferences, using advanced search and filtering criteria, and automatic notifications.

Investors: pick your project

Project eligibility

 To be admitted for publication on the Portal, your project must:

• have a total cost of at least € 5 million
• fall under one of the pre-determined high-economic-value-added sectors (a choice of up to two sectors per project is available to the promoters)
• be expected to start within three years of submission
• be promoted by a public or private legal entity established in an EU country
• be compatible with all applicable EU and national laws

Publication of a project can be denied on legal, reputational or other grounds.

 Sectors covered

 Knowledge and digital economy

• Research, development and innovation
• ICT infrastructure, including broadband
• Other digital, including content and services

Energy Union

• Renewable energy production
• Conventional energy production
• Energy efficiency
• Electricity infrastructure
• Gas infrastructure
• Fuel extraction and refining
• Energy R&D

Transport

• Trans-European network
• Multimodal nodes
• Urban mobility projects
• New technologies and transport greening
• Vehicles and transport systems

Social infrastructure and other

• Human capital, education and training
• Health
• Cultural and creative industries
• Tourism
• Social infrastructure, social and solidarity economy

Resources and environment

• Natural resources
• Agriculture and rural development, forestry and bio-economy
• Resource efficiency and environmental protection
• Climate change

Securitization Undertakings 

A special purpose vehicle to securities any asset or risk linked with receivables

Regulated or unregulated securitization companies and securitization funds are defined under the Luxembourg securitization act of 22 March 2004.

The Luxembourg law allows the securitization of many types of assets, risks, revenues and activities and makes securitization accessible to all types of investor (institutional or individual). Issuers will issue securitization vehicles as an alternative to traditional bank funding.

An extremely wide range of assets can be securitized: securities (shares, loans, subordinated or non-subordinated bonds), risks linked to debt (commercial and other), movable and immovable property (whether tangible or not) and, more generally, any activity that has a certain value or future income.

Securitization process

Securitization undertakings established in Luxembourg are incorporated by a promoter to securities any type of assets or risks linked with receivables or any activities realized by third parties. The process of securitization is understood as acquiring risks from an originator by issuing a security the value of which and associated yields are linked to the underlying asset.

Securitization is an operation by which investors buy securities, i.e. transfer cash to a securitization vehicle (SV), in order to obtain the proceeds from the investments made by that vehicle. SVs are assets that produce a predictable cash flow or grant the right to a future cash flow, transforming these assets into securities (shares, bonds or other securities). Investors, however, also carry the risk of any uncertainty in these cash flows.

These securities can be qualified as Asset-backed Securities (ABS), because the underlying assets serve as collateral for the investment. As such, the investor normally carries two risks: the uncertainty of a future cash flow and the risk of valuation of the underlying asset.

For example, a bank may decide to sell the risks associated with their real-estate loan portfolio to investors, thereby effectively removing this risk from their balance sheet. The buyer of these risks is entitled to the cash flow related to the interest paid by home owners and to the underlying homes in case of default of the home owners.

At the forefront of securitization services in Luxembourg

We work to secure and advance the interests of clients and to provide services that help them transform their assets and financial futures. Our services are defined by the following:

• In-house knowledge of all the major regulatory and development issues
• Commitment to sourcing the most appropriate solutions for establishing and managing securitization vehicles
• Strong and open relationships with clients based on clear communication and trust
• Independence

We provides a range of services for clients, including administration, tax advice and security issuance.

Securitization fund:

Under Luxembourg law, a securitization vehicle can be constituted either as a company or a fund.

A securitization company must take the form of public limited company, a joint stock company, a private limited company or a cooperative with limited liability. It can create one or several compartments corresponding to a distinct part of its holding.

A securitization fund has no legal personality and must be managed by a management company, which must be a commercial company. The fund is formed from one or several joint ownership organizations or one or several fiduciary estates. In the former case, the fund must be under a co-ownership regime, with the latter scenario being governed by trust and fiduciary contract legislation.

Luxembourg law ensures the tax neutrality of securitisation vehicles. Securitisation funds are treated as investment funds and the investors are taxed according to the rules in force in their country of residence. These funds are exempt from tax, but cannot benefit from double tax treaties agreed by Luxembourg. Securitisation companies are fully taxable, but payments carried out on the behalf of investors are fully tax deductible. Securitisation companies can benefit from EU directives and double tax treaties.

Securitisation organisations that continually issue transferable assets for the public must be approved and supervised by the financial sector supervisory authority, the CSSF.

Examples of assets acquired by a securitisation entity: 

• Receivables, loans, mortgages, any future cash flow on sale of assets, current accounts
• Bonds, shares, financial instruments, derivatives, currencies, precious metal, etc
• Real Estate, planes, yachts, buildings, land, woods, plantations
• Bank cards, car rentals, commercial, legal or political risks, catastrophe risks
• Intellectual property, royalty income, future cash flow on activities, etc

A Securitisation company can be incorporated in the following forms:

• Public Company Limited by shares (SA or Société Anonyme)
• Private Company Limited by shares (SáRL or Société à Responsabilité Limitée)
• Limited Partnership  (Société en Commandite par Actions)
• Cooperative companies limited by shares (Société Coopérative fonctionnant comme une Société Anonyme)

A Securitisation Fund can be incorporated:

• as a stand-alone fund, which is a contract of co-ownership between the investors, and
• a management company which has a registered office in Luxembourg.

Both undertakings can be used as a Special Purpose Vehicle (SPV) and can be set up as an umbrella structure, with segregated compartments enabling the same vehicle to be used for different securitisation transactions.

Securitisation undertakings (company or fund) are not regulated by the CSSF unless they issue shares or bonds to the public (less than EUR125,000) on a regular basis (once per civil quarter).

Both conditions are cumulative. This means that issuing securities in the public sphere once does not fall under the supervision of the CSSF.

Likewise, issuing securities to HNWIs, Family Offices, Institutional investors, or under a private placement is not deemed to be in the public sphere.

However, the appointment of an auditor is mandatory.

Tax:

Luxembourg tax law attempts to achieve a regime of tax neutrality, as a securitisation vehicle should serve as a pass-through entity from the originator to the investors.

A Luxembourg Securitisation Company:

• is subject to normal corporation tax at 29.2%
• is not subject to wealth tax or incorporation duties on capital
• will have all profits realized by the securitisation considered as normal taxable income,
• However, all costs and commitments due to the undertaking shareholders and bondholders (or note holders) will be considered as tax deductible expenses. This means that only the remaining profits of the Luxembourg securitisation company will be considered as a taxable profit in Luxembourg.

Dividends, interest (whether variable or fixed), coupons, options, or any other financial advantages that a third party may receive from the securitisation company will be tax exempt, and will not suffer any withholding taxes in Luxembourg (subject to the EUSD in some cases).

A Luxembourg Securitisation Fund:

• is considered tax transparent (Fonds Commun de Placement) and is therefore not subject to any taxation in Luxembourg. (The fund is not taxable itself and there is no withholding tax on payment to share or bond holders).
• offers a profit to unitholders in the securitisation fund depending on their percentage of fund ownership.

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