Tokenize Real Estate in France

Yes. Real estate tokens structured as securities are legal in France under AMF oversight and MiCA regulations (effective December 2024). The AMF published in-depth legal analysis of security tokens in 2020 and operates an optional visa scheme for token offerings. LISE SA received DLT TSS authorization in October 2025, enabling real estate SMEs to list tokenized securities on Europe's first fully tokenized stock exchange. Compliance requires either AMF visa or CASP licensing under MiCA

The DLT Pilot Regime, effective March 2023 and extendable through June 2028, enables experimental blockchain-based trading and settlement of financial instruments under regulatory supervision. LISE SA is authorized under the Pilot Regime as a combined Multilateral Trading Facility (MTF) and Central Securities Depository (CSD), the first such combined authorization in Europe. LISE integrates order execution and settlement on one blockchain with 24/7 trading

Yes. Foreign investors can participate through multiple routes: directly via AMF visa-approved or CASP-licensed platforms for domestic security tokens, through EU fund structures (Luxembourg RAIF, ELTIF 2.0) compliant with MiFID II, or via LISE-listed tokens if they pass the blockchain knowledge test for retail access. There are no nationality restrictions for token holders in compliant structures

Timeline depends on the route: 6–8 weeks for domestic security token under AMF visa or CASP licensing, 8–12 weeks for EU fund structures through Luxembourg RAIF/ELTIF 2.0, and 2–4 weeks for offshore issuance with geo-blocking. Tokenizer.Estate handles AMF licensing, ACPR coordination, MiCA compliance, and legal documentation in parallel

Minimum investment depends on the token structure set by the issuer. Typical security token offerings allow participation from €1,000+. LISE-listed SME offerings may have lower minimums to encourage retail participation. Luxembourg RAIF and ELTIF 2.0 structures often have higher institutional minimums (€25,000+). No regulatory minimum imposed by MiCA or AMF

MiCA (Markets in Crypto-Assets Regulation) is the EU's harmonized framework for crypto-asset markets, effective December 30, 2024. In France, it replaced legacy PSAN/DASP registrations with CASP licensing. Providers of digital asset services must apply for CASP authorization from the AMF by June 30, 2026. Real estate tokens qualifying as financial instruments may fall under securities law rather than MiCA, but compliance with AMF and MiFID II remains mandatory

No. Property ownership transfers are still registered at the local cadastre. Tokens represent ownership interests in the SPV or fund holding the property, not direct land title. France's cadastre continues to be the authoritative source for real estate ownership records

French investors pay 30% PFU on digital asset gains: 12.8% income tax plus 17.2% social contributions. Gains under €305 annually are tax-exempt. For real estate tokens traded on regulated platforms like LISE, capital gains may be treated as securities gains under standard income tax rules (up to 45%) depending on classification and holding period. Consult a French tax advisor

Tokenizer.Estate manages the full AMF visa or CASP licensing process and coordinates with ACPR for DLT infrastructure authorization. This includes application preparation, MiCA and MiFID II compliance documentation, AML/KYC procedures aligned with French and EU standards, and ongoing regulatory reporting

Yes, if structured as a qualifying security token from an SME issuer. LISE targets French joint-stock companies and limited partnerships with market capitalizations below €500 million, requiring at least 50% of issuers to be SMEs under €200 million. LISE combines trading and settlement 24/7 on a single blockchain infrastructure. Retail investors must pass a blockchain knowledge test