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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.

Engine je analytický nástroj — neslouží jako investiční poradenství. ČNB licensing AIF + platform mandatory verification. Není investiční doporučení per § 2 zák. 256/2004. CZ REIT emerging market 2024-2026 (Reico, Investika, Czech Property Funds).
Nemovitostní investiční fondy 2026 — AIFMD + zák. 240/2013 Sb. · Jistybyt