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Recent deals and cases by Harneys

Harneys advises on the first global real estate crowdfunding platform in China

30 December 2015

Harneys advised HengXinLi on the establishment of the first global real estate crowdfunding platform in China, which launched in December 2015. 
 
The online investment platform is designed to provide Chinese investors with access to real estate in major international cities. As crowdfunding is a regulated activity in many jurisdictions, Harneys consulted with and made submissions to the BVI Financial Services Commission, who had no objection to the proposal. The platform is aimed at middle class PRC Nationals wanting to invest in real estate in countries such as the UK and the US. As crowdfunding, by its very nature, tends to collect relatively small amounts of capital per investor, the platform had to be structured to allow several BVI companies to co-invest in another BVI company, which would then utilise an offshore vehicle to acquire the underlying property. This deal won a Deal of the Year Award from China Business Law Journal, announced in January 2017.
 
Aki Corsoni-Husain, Partner, Simon Hudd, Partner, Shari Hawke, Counsel provided BVI law advice to HengXinLi.