부동산투자회사제도에 관한 연구

다국어 초록 (Multilingual Abstract)

Real estate investment company system is a corporation which invests in the acquisition, management and development of real estates with the fund it has raised from many investors as a result of offering stocks related to real estate, and distributes its profit to the investors. Real estate investment company system is an indirect investment system to act for the investment of general public on the real estate by improving the liquidity of real estate through utilization of real estate as securities.
Following measures should be considered to make established and to develop the real estate investment company system.
First, it is necessary to continuously complement and to revise the system and laws on the real estate investment company. Until the real estate investment company system comes to stay, it is necessary to continuously study this system focusing on government management and supervision organization, for maximization of efficiency and service, reduction of expenses and taxation supports including the prevention of dual taxation on the real estate investment company. The improvement of system from this study can lead to the creation of the environment for better management and investment.
Second, it seems necessary to convert the awareness and mind-set of general public according to the influence of real estate industry on the national economy by systematically training and cultivating the professional personnel who can take charge of operating and managing the real estate investment company, and by combining the morality and high-level qualification through introduction of qualification system. And this is attributable to the high sense of responsibility and self-respect of professional personnel who will develop, distribute and manage important real estates.
Third, it is necessary to reinforce the weak academy, information, finance and promotion areas related to real estates of Korea. It is also necessary to ensure systematic management of real estate, prompt financial support, fair distribution and promotion system toward the general public for this purpose.
Forth, obtaining the confidence of general public is the precondition for establishment of real estate investment system. High morality and management capacity of management are important in obtaining the confidence. If the company cannot give profit to the investors or the transparency of management is not guaranteed, it is certain that investor will not show any interest in the real estate investment company system.
This thesis analyzed the possible problems which may occur as the real estate investment company system is put into force, and further presented the measures for these problems.
I expect that real estate investment company system can accomplish the desired purposes for separated ownership of real estate, distribution of real estate for restructuring of company, as well as for the activation of real estate economy and overall economy.

목차 (Table of Contents)

• 목차
• 제1장 서론 = 1
• 1. 연구의 배경 및 목적 = 1
• 2. 연구의 범위와 방법 = 3
• 제2장 부동산투자회사제도의 일반이론 = 4
• 제1절 부동산투자회사제도의 필요성 = 4
• 1. 부동산투자회사의 의의 = 4
• 2. 제도도입의 필요성 = 5
• 1) 정책적 측면 = 5
• 2) 투자자 측면 = 6
• 제2절 제도도입배경 및 추진현황 = 6
• 1. 추진현황 = 7
• 제3절 부동산투자회사의 구조 = 8
• 1. 내부구조 = 8
• 2. 외부구조 = 9
• 제3장 외국의 부동산투자회사제도 = 12
• 제1절 미국의 REITs = 12
• 1. REITs의 정의 = 12
• 2. REITs의 유형 = 13
• 3. REITs의 자격요건 = 18
• 4. REITs의 주요장점 = 19
• 5. REITs의 구성 및 운용요건 = 20
• 1) REITs와 세법 = 20
• 2) 구성요건 = 22
• 3) 소득요건 = 27
• 4) 자산요건 = 36
• 5) 배당요건 = 43
• 6) REITs와 주주의 세금 = 51
• 7) REIT의 자격취소와 상실 = 60
• 제2절 일본의 SPC = 61
• 1. 부동산증권화와 SPC = 61
• 2. SPC법의 개요 = 64
• 3. 특정목적회사의 기관 = 65
• 4. 업무 = 67
• 5. SPC와 세법 = 69
• 제3절 호주의 LPT = 71
• 1. 호주LPT의 개요 = 71
• 2. LPT의 정의 = 71
• 3. LPT의 구조 = 72
• 4. LPT와 세금 = 73
• 5. 호주LPT의 발달 = 74
• 6. 호주LPT 시장현황 = 75
• 7. LPT가 호주경제에 미치는 효과 = 76
• 제4장 우리나라의 부동산투자회사제도 = 78
• 제1절 부동산투자회사 = 78
• 1. 설립절차 = 78
• 2. 자본금과 소유제한 = 79
• 3. 현물출자와 가능시기 = 81
• 4. 투자대상과 자산의 운용 = 81
• 5. 배당요건과 차입제한 = 83
• 제2절 운용기관 = 84
• 1. 부동산투자회사 = 84
• 2. 부동산투자자문회사 = 86
• 3. 기업구조조정부동산투자회사 = 88
• 4. 자산관리회사 = 90
• 5. 자산보관기관 = 91
• 제3절 유사제도와의 비교 = 93
• 1. 부동산투자신탁사의 비교 = 93
• 2. 일반주식회사 및 뮤추얼펀드와의 비교 = 96
• 제4절 투자자보호장치 = 99
• 제5절 세제혜택 = 101
• 제6절 벌칙 = 102
• 1. 5년 이하의 징역 또는 1억원 이하의 벌금 = 102
• 2. 3년 이하의 징역 또는 5천만원 이하의 벌금 = 102
• 3. 1년 이하의 징역 또는 1천만원 이하의 벌금 = 103
• 4. 양벌규정 = 104
• 5. 500만원 이하의 과태료 = 104
• 제5장 부동산투자회사제도의 부작용 및 대책 = 107
• 1. 제도시행에 따른 예상부작용 = 107
• 2. 예상부작용에 대한 극복방안 = 109
• 제6장 결론 = 112
• 참고문헌 = 116
• ABSTRACT = 119