Investice · Nemovitostní fondy · AIFMD
Nemovitostní investiční fondy 2026
Engine pro investice do nemovitostních fondů — 5 FundType × yield + liquidity + tax analysis. AIFMD + zák. 240/2013 Sb. + EU Crowdfunding 2020/1503. Distinct od přímého vlastnictví — tax-efficient + diversified + professionally managed.
5 FundType
- Open-ended residential4-6 % p.a.
Min 100k retail / 1M qualified. Daily redemptions. Diversifikace 30-100 nemovitostí. Tax 5 % fund.
- Closed-ended commercial5-8 % p.a.
Min 1M Kč. Lock-in 5-15 let. Premium offices/retail/industrial. No early exit.
- Listed REIT (SICAV)4-7 % p.a.
Min 50k Kč. Daily liquidity Burza Praha. 90 % rental distribution. Tax-transparent.
- Crowdfunding platform7-12 % p.a.
Min 10k Kč. EU Crowdfunding 2020/1503. ČNB licensed platform. Higher risk single projects.
- Private club (qualified only)8-15 % p.a.
Min 5M Kč qualified investor only. Bespoke strategies. Lock-in 7-15 let. No retail protection.
Klíčové zákony
- • Zák. 240/2013 Sb.: Investiční společnosti a fondy — § 21-25 fund types + ČNB licensing
- • AIFMD směrnice EU 2011/61/EU: Alternative Investment Fund Managers Directive — manager licensing
- • EU Crowdfunding Regulation 2020/1503: Harmonizace platform regulation EU + investor protection
- • Burza Praha listing: Listed REIT requirements + 90 % rental distribution
- • § 21 ZDP: Tax 5 % fund-level vs 15 % direct ownership
Tax efficiency analysis
- • Open-ended/closed funds: 5 % fund-level tax (§ 21 ZDP) vs 15 % direct
- • Listed REIT: tax-transparent flow-through, 15 % na investora
- • Crowdfunding 5+ let: § 4 ZDP capital gains exempt
- • Private club: complex, individual structure dependent
Liquidity scoring
- • Listed REIT 90/100: daily Burza Praha trading
- • Open-ended residential 70: monthly redemptions
- • Crowdfunding 40: project-specific lock-in 12-60 měs
- • Closed-ended commercial 25: lock-in 5-15 let
- • Private club 15: lock-in 7-15 let
Status engine
- • green: investment >= min, risk < 60, lock-in < horizon
- • yellow: high risk type (private club, crowdfunding) or lock-in > horizon
- • red: investment < min required (insufficient pro tier)
REST API
Programatický přístup k engine pro AI/MCP klienty: /api/investment-fund — query parametry type, investmentAmountCzk, investorTier, horizonYears, expectedAnnualYieldPct, managementFeePct, performanceFeePct, lockInMonths.