© 2019 Yester & Morrow


We provide comprehensive tax and regulatory advice on the structuring, implementation, ongoing support and liquidation of investment structures, and especially open-ended funds. In this area, we are noticing a growing increase in complexity, especially due to separated regulatory and tax requirements for fund structures.

At the same time, the tax authorities are intensifying the examination and sanctioning of infringements of general tax principles (e.g. transfer pricing, Foreign Taxation Act (AStG), VAT-Act (UstG)) also in relation to investment structures. As a result, initiators as well as investors are increasingly facing challenges related to the compliance with and implementation of the regulatory and tax law framework.  


The aim of our advisory approach, which is geared towards the real estate fund industry, is to offer initiators and investors comprehensive advice in every phase of the life cycle of an investment structure.  

Capital market and investment tax law 

Embedded compliance

Sustainably legally secure business processes have the potential to increase freedom of action in all areas of a company. In line with our philosophy, we bring in our legal expertise while supporting our clients with regard to the analysis and optimisation of their business processes. In doing so, we work closely with the in-house lawyers or make use of our network of colleagues from different legal fields with expertise in various areas.


Our track record comprises: 


  • restructuring of contract drafting and contract management 

  • preventive documentation of construction defects in conjunction with automated damage reporting 

  • legal structures for digitally managed purchasing and sales processes  
  • digitalisation of internal approval/release and reporting processes  

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