Vastned is a (closed-end) property investment company with variable capital that makes long-term investments in top quality, well-let individual retail properties in the most popular high streets in the Netherlands, Belgium, France, Spain and Turkey. The company also holds investments in dominant shopping centers and retail warehouses in the same geographical markets.
Vastned qualifies as a fiscal investment institution (FII) as meant in Section 28 of the Dutch 1969 Corporate Income Tax Act. This means that the company is exempt from corporate income tax in the Netherlands. The Belgian and French investments have been incorporated in local companies under tax regimes comparable to an FII, so no income tax is payable there either.