A company will qualify for the exemption from the FIF measures as a holding company of a real property company if the following requirements are satisfied:
- Approved stock exchange
You hold shares in the holding company of a class listed on any stock market of a stock exchange approved in regulation 152I, Schedule 12 of the Regulations.
See Appendix 1: Approved stock exchanges for more information.
- Designated a real property company
The holding company is included in a class of companies designated as engaged in carrying on one or more of the specified activities mentioned above on either:
- an approved stock exchange, or
- an approved international sectoral classification system.
See Appendix 3: Approved international sectoral classification systems for more information.
- Trading requirement
The class of shares you have in the holding company must be widely held and actively traded on a regular basis on a stock market of an approved stock exchange.
- Subsidiaries principally engaged in real property activities
If the holding company has only one wholly owned subsidiary, that subsidiary must be principally engaged in the active carrying on of one or more of the activities mentioned above that are connected with real property.
If the holding company has more than one wholly owned subsidiary, the principal activities of the wholly owned subsidiaries in the group, considered together, must be the active carrying on of one or more of the activities mentioned above. [section 511A]