A non-trading property company can be set up to carry out an activity or to manage real estate assets.

The members of the SCI must be at least two. To constitute the share capital of the SCI, each member must make a contribution to the SCI:

• - In cash: contribution of a sum of money,
• - In kind: contribution of a good,
• - In industry : contribution of his activity or of a know-how. The contribution in industry does not enter the share capital.

Duties and taxes may be due on the contributions.

Note: If a partner brings a real estate property, or a lease of a duration higher than 12 years, a notary must necessarily intervene in order to carry out the formalities of real estate publicity.

To set up the SCI, the founding partners carry out various formalities. First of all, it is necessary to draw up and sign the articles of association of the SCI which constitute the company contract. It is possible to call upon a professional (notary, lawyer...) for the establishment of the statutes. The latter can be completed by internal regulations.

Note: if acts are performed in the name and on behalf of the SCI before it is registered with the RCS, they can be taken over by the SCI when the articles of association are signed. A statement of these acts is then established and annexed to the articles of association.

Then, the legal formalities are carried out:

• - Insertion in a newspaper of legal announcements,
• - Registration of the company in the RCS (Registre du Commerce et des Sociétés): the application is filed at the CFE (Centre de Formalités des Entreprises), it contains various documents,
• - Publication in the BODACC, at the initiative of the clerk who registers the company.

The registered SCI is given an identification number: the Siren number, composed of 9 digits. This number, together with the words "RCS" and the city of registration, is indicated on invoices, orders, rates, advertising documents, correspondence and receipts issued by the SCI.