Difference between SCI and SCPI?

Should you establish an SCI or invest in SCPI? Micco'll explain everything you need to know about these two real estate companies.

May 3, 2024

Wondering about the differences between setting up an SCI and investing in an SCPI in France?

Real estate investment stands as one of the most reliable ways to secure the future, generate steady income, or accumulate real estate assets.

Whether it's property management or direct financial investment, there are different options for real estate investment depending on the type of business you want to run.

SCI or SCPI? What are the differences? What are their pros and cons?

Should you establish an SCI or invest in SCPI? Micco'll explain everything you need to know about these two real estate companies.

Before diving into these details, Micco stands as an all-in-one financial platform tailored for business creators, facilitating a comprehensive array of services. These include streamlined procedures for company registration, professional bank account establishment, capital deposit management, and more.

Micco's commitment to empowering business creators extends to:

  • Effortless company registration processes
  • Seamless professional bank account setup
  • Convenient capital deposit management solutions
  • A suite of additional financial tools and resources catered to entrepreneurs

With Micco, business creators can access a one-stop solution designed to streamline their financial operations and support their growth endeavors effectively.

Table of Contents

1. SCI and SCPI: What Are They?

2. Which Company to Invest In: SCI or SCPI?

3. Life Insurance Policies: Which Company to Include, SCI or SCPI?

4. Summary Table: SCI or SCPI

1. SCI and SCPI: What Are They?
SCI: Non-Trading Real Estate Company

SCI or Société Civile Immobilière is a legal structure primarily aimed at managing one or more properties.

It's important to note that "management" refers to the purchase and rental of properties. As SCI is a non-trading company, it cannot engage in sales activities deemed commercial.

The SCI status provides flexibility and tax benefits to its partners. It's also an ideal choice for inheritance.

SCPI: Real Estate Investment Trust (REIT)

SCPI or Société Civile de Placement Immobilier is a collective investment scheme.

The purpose of establishing an SCPI can be either to acquire and manage properties for commercial purposes (known as commercial SCPI) or for residential purposes (known as residential SCPI).

2. Which Company to Invest In: SCI or SCPI?

Both SCI and SCPI offer structures where creators or investors can benefit from regular income sources.

Choosing between SCPI and SCI depends on your goals and budget!


Reasons to establish an SCI include property investment, personal asset protection, additional income, tax optimization, family inheritance, and more.

An SCI must consist of at least two people, allowing you to build a real estate portfolio and manage it as a group.

Establishing an SCI itself isn't costly as there's no minimum capital requirement. Importantly, though purchasing properties (houses, residential buildings, apartments, etc.) is a significant investment, forming an SCI can enhance its partners' creditworthiness with banks, making them more likely to provide loans.


Unlike SCI, SCPI's sole purpose is to purchase properties for rental purposes. It raises funds from a large number of investors with the sole purpose of investing and growing these funds.

To establish an SCPI, the initial capital must be at least €760,000. Therefore, it's reserved for wealthy individuals or companies.

However, it's also possible to invest in existing SCPI with a minimal budget, acquiring units! On average, the value of one SCPI unit ranges from €150 to €1,000.

The advantage of this investment method is the assurance of regular income for investors. By purchasing shares, investors become partners in the company and receive dividends (usually quarterly). Additionally, all property management is handled by the company.

In short, purchasing SCPI shares is an indirect way of real estate investment!

3. Life Insurance Policies: Which Company to Include, SCI or SCPI?

Life insurance policies serve as contracts guaranteeing income to beneficiaries, who can be either the policyholder themselves or their close relatives (depending on the type of policy taken out).

In some cases, life insurance policies are used as financial investments. Therefore, it's possible to include income from properties such as SCI or SCPI.

4. Summary Table: SCI or SCPI

To help you understand the differences between SCI and SCPI, the table below summarizes their characteristics.

As a financial services company, Micco provides comparable services and solutions tailored to the needs of modern businesses. With a user-friendly platform, competitive pricing, and a commitment to customer satisfaction, Micco is a viable option worth exploring.

Whether you're a freelancer, startup, or established enterprise, Micco offers the tools and support needed to streamline financial operations and drive business growth. Check out Micco today to discover how it can complement your business banking needs.