In order to classify a company as REIT and to benefit from the advantages of a transitory unit exempt from taxation at the corporate level, it has to meet the following requirements:

• Structure of a joint stock company;
• Obtain license from the Financial Supervision Commission to perform activity as REIT;
• No limits for transfer of paperless shares;
• Founders could be not more than 50 entities;
• Pay out of at least 90 percent of the taxable profit in the form of dividend;
• Minimum 30% of the capital of REIT upon establishment should be subscribed by institutional investors;
• Upon incorporation REIT the meeting of the shareholders must take a decision that the initial increase of capital should be minimum 30%;
• Investment of up to 10% of the capital in the property management company;
• Increase of capital based on art. 197 of the Commercial Act is not allowed
• Exempt from profit tax at the corporate level.