Kevin Bendlin - CIVIS Soluciones Inmobiliarias.
Investir em imóveis na planta em Assunção pode oferecer valorização, acesso a melhores preços de entrada e planejamento de capital flexível. Mas para investidores locais e estrangeiros, a questão central permanece a mesma: como proteger o dinheiro aportado antes da conclusão da construção.
One of the most used structures to manage this risk is the real estate trust. This mechanism allows the project's assets to be separated from the developer's ordinary operations and establish clear rules for the administration of funds.
O que é um fundo imobiliário? É um contrato através do qual determinados bens, direitos ou fundos são transferidos para um património autónomo gerido por um fiduciário. Nas incorporações imobiliárias, esse patrimônio é utilizado para execução do projeto em condições previamente definidas.
The trust organizes the administration of the project and provides traceability to the invested capital.
How to protect investor capital
Unlike a direct sale where money can go into a company's operating accounts, a trust introduces a separate management structure. Its value lies in traceability, control and delimitation of the destination of funds.
1. Patrimonial separation
Os terrenos, direitos e contribuições vinculados ao projeto podem permanecer dentro de um patrimônio autônomo. Essa separação ajuda a proteger o empreendimento contra riscos não relacionados à obra e permite que os recursos sejam gerenciados para uma finalidade específica.
For the investor, this structure reduces the risk that the funds will be used for purposes other than the agreed real estate project.
2. Independent administration
The trustee manages the assets in accordance with the trust contract. Depending on the scheme, disbursements may be linked to the progress of the project, compliance with milestones, technical documentation or conditions provided by the parties.
This creates an additional layer of control between the investor, the developer and the execution of the work.
3. Transparency for foreign investors
For international capital, Family Offices or non-resident buyers, the fiduciary structure makes it easier to understand who manages the funds, under what rules the project is executed and what documentation supports the operation.
In a market like Asunción, where well investment combines opportunity for appreciation with construction deadlines, this transparency is especially relevant.
Advantages compared to a traditional purchase
The trust does not replace the need for legal and financial analysis, but it provides a more orderly architecture for projects in development. Among its usual advantages are:
- Menor risco de contraparte: O projeto possui normas de administração e patrimônio próprio.
- Maior rastreabilidade: As contribuições podem ser documentais vinculadas ao andamento e destino do projeto.
- Pedido para múltiplos investidores: permite estruturar direitos e obrigações no mesmo quadro contratual.
- Planejamento de partida: Fica mais fácil entender como será concluída a escritura ou premiação final.
What to check before joining a trust
Before investing, the buyer should review the contract, identify the trustee, understand the developer's obligations and verify the delivery conditions. It is also worth analyzing what happens if there are delays, project changes, non-compliance or the need to replace suppliers.
In Paraguay, trusts must be evaluated together with the land documentation, municipal permits, work schedule, construction contracts, horizontal property regime and deed conditions.
It is also important to review the fiscal and documentary impact. For corporate operations, it may be necessary to coordinate the investment with a legal entity structure, RUC, powers of attorney, source of funds documentation and banking compliance.
Trust and investment in well
Purchasing in a well allows you to enter in early stages, when the price per square meter can be more competitive. The potential return usually depends on the location, quality of the project, progress of work, rental demand and valuation at the time of delivery.
The trust provides legal order to that stage prior to the final deed. The objective is not to eliminate all risk, but to manage it better and offer the investor a clearer documentary structure.
In high-end projects, such as CIVIS-linked developments in the Asunción corporate hub, this type of structure may be relevant for investors seeking real estate exposure with greater documentary control.
Frequently asked questions
Who manages the money in a real estate trust?
The money and assets assigned to the project are managed by a fiduciary in accordance with the contract. The fiduciary acts under defined rules and with specific responsibilities regarding the managed assets.
What happens if the construction company has financial problems?
The answer depends on the contract and the specific structure. In general terms, asset separation seeks to protect the project against external risks of the developer and allow alternatives for continuity.
Can a foreign investor participate?
Yes. Paraguay allows the participation of foreign investors, although each operation must comply with identity documentation, origin of funds, banking requirements and applicable contractual conditions.
Invest with structure and support
Smart profitability is not only measured by the percentage of return, but by the way risk is managed. In well projects, the legal structure is as important as the location and the entry price.
At CIVIS Soluciones Inmobiliarias we accompany investors looking for real estate opportunities in Asunción with documentary clarity, equity focus and analysis of projects aimed at income and valuation.
Quer saber como funcionam as estruturas de investimento nos nossos empreendimentos atuais? Entre em contato conosco para avaliar qual se adapta melhor ao seu perfil de capital.
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