Due to the tax framework in Germany, SPVs established by TSI Services GmbH in the legal form of a UG (haftungsbeschränkt) are used for transactions that are based exclusively on bank loans as underlying assets.
In Germany, the established process of establishment and endowment offers the following advantages:
- Process reliability through transparent corporate governance
- established in 2004, the foundations as shareholders of SPV are headed by renowned and independent board members
- no personal identity at the level of the individual foundations
- no group formation or controlling influence in accordance with corporate or supervisory laws
- clear separation of shareholder, service provider and management functions at all levels
- foundations are supported by TSI in fulfilling their role as shareholders
- KYC process at foundation level is significantly simplified through transparency and established processes
- attractive and competitive fee model
