# Law No. 8668 of June 25, 1993

> Brazilian law

**Wikidata**: [Q105647630](https://www.wikidata.org/wiki/Q105647630)  
**Source**: https://4ort.xyz/entity/law-no-8668-of-june-25-1993

## Summary
Law No. 8668 of June 25, 1993, officially designated "Lei nº 8668, de 25 de junho de 1993," is a Brazilian federal statute enacted during the presidency of Itamar Franco. Promulgated on June 25, 1993, in Brasília, this legislation establishes the legal framework for the constitution and tax regime of Real Estate Investment Funds (Fundos de Investimento Imobiliário) in Brazil. It serves as a key regulatory instrument within Brazilian law, applying to the entirety of the Federative Republic of Brazil.

## Key Facts
- **Official Title:** Lei nº 8668, de 25 de junho de 1993
- **Legal Citation:** Lei nº 8668/1993
- **Type of Instrument:** Statute
- **Date of Promulgation:** June 25, 1993
- **Approving Authority:** Presidency of the Federative Republic of Brazil; signed by President Itamar Franco
- **Jurisdiction:** Federative Republic of Brazil
- **Place of Publication:** Brasília, Brazil
- **Language:** Brazilian Portuguese
- **Primary Subject:** Provides for the constitution and tax regime of Real Estate Investment Funds (Fundos de Investimento Imobiliário)
- **LexML Brazil ID:** urn:lex:br:federal:lei:1993-06-25;8668
- **Official URL:** Available at the official Planalto Palace website (https://www.planalto.gov.br/ccivil_03/leis/l8668.htm)
- **Wikimedia Project:** On the focus list of WikiProject Brazilian Laws

## FAQs
**What is the primary purpose of Law No. 8668?**
Law No. 8668 establishes the legal and fiscal rules governing Real Estate Investment Funds (Fundos de Investimento Imobiliário) in Brazil, including their creation, operation, and taxation.

**Who signed Law No. 8668 into effect?**
The law was promulgated by the Presidency of the Federative Republic of Brazil, with Itamar Franco serving as President at the time of its enactment on June 25, 1993.

**What is the scope of Law No. 8668?**
The law applies to the entire jurisdiction of the Federative Republic of Brazil and contains provisions related to administration, financial resources, competencies, assets, utilization, legal norms, functioning, goods, distribution, limitations, prohibitions, rights, supervision, composition, creation, definitions, and quotas.

**Where can the official text of Law No. 8668 be accessed?**
The official text is available in Brazilian Portuguese at the Planalto Palace website (https://www.planalto.gov.br/ccivil_03/leis/l8668.htm) and is indexed under the LexML Brazil identifier urn:lex:br:federal:lei:1993-06-25;8668.

## Why It Matters
Law No. 8668 is a foundational piece of Brazilian financial and property legislation, providing the statutory basis for the Real Estate Investment Fund (FII) market. By defining the constitution and tax regime of these funds, it created a formalized investment vehicle that allows investors to pool capital for real estate ventures, driving development in the property sector and offering a tax-efficient structure for such investments. As a statute, it constitutes a formal written manifestation of Brazilian law, serving as a definitive legal reference for courts, financial institutions, and regulators. Its passage in 1993 during the Itamar Franco presidency marked a significant step in the development of Brazil's financial markets, and it remains the core legislation governing FIIs in the country.

## Notable For
- **Foundational FII Legislation:** Establishes the legal framework for Real Estate Investment Funds (Fundos de Investimento Imobiliário) in Brazil, a key financial instrument.
- **Tax and Constitutional Regulation:** Uniquely addresses both the legal constitution and the specific tax regime for these funds in a single statute.
- **Presidential Promulgation:** Enacted by President Itamar Franco on June 25, 1993, from the federal capital, Brasília.
- **Broad Subject Scope:** Addresses a wide array of related topics including administration, financial resources, competencies, assets, legal norms, distribution, rights, supervision, creation, definitions, and quotas.
- **Formal Legal Citation:** Cited as Lei nº 8668/1993 and identified by the LexML Brazil URN: urn:lex:br:federal:lei:1993-06-25;8668.

## Body

### Legal Identity and Classification
Law No. 8668 of June 25, 1993, is classified as a statute (statute), which is a formal written document that creates law. As an instance of this class, it serves as a manifestation of statutory law within the Brazilian legal system. It is an alternative name for "Lei nº 8668, de 25 de junho de 1993" and is cited legally as "Lei nº 8668/1993."

### Context of Enactment
The statute was promulgated on June 25, 1993, in Brasília, the federal capital of Brazil. The approving authority was the Presidency of the Federative Republic of Brazil, with President Itamar Franco serving as the head of state at that time. The law is a federal statute, applying to the entire jurisdiction of Brazil, and is written in the official language of Brazilian Portuguese.

### Subject Matter and Scope
The primary subject of Law No. 8668, as stated in its digest, is "to provide for the constitution and tax regime of Real Estate Investment Funds and other measures" (DISPÕE SOBRE A CONSTITUIÇÃO E O REGIME TRIBUTARIO DOS FUNDOS DE INVESTIMENTO IMOBILIARIO E DA OUTRAS PROVIDENCIAS).

The law's content is tagged with a wide range of subjects that indicate its comprehensive regulatory nature:
-   **Administration (Administração):** Governs the management of the funds.
-   **Financial Resources (Recursos Financeiros):** Pertains to the capital and money involved.
-   **Competency (Competencia):** Defines the legal powers and duties.
-   **Assets and Heritage (Patrimonio):** Covers the property and wealth held by the funds.
-   **Use and Utilization (Utilização):** Regulates how fund assets are employed.
-   **Legal Norms (Normas):** Establishes the binding rules and standards.
-   **Operation and Functioning (Funcionamento):** Details how the funds must operate.
-   **Goods (Bens):** Refers to the physical and financial assets.
-   **Product Distribution (Distribuição):** Governs the allocation of returns to quota holders.
-   **Limitation and Prohibition (Restrição, Proibição):** Sets boundaries on fund activities.
-   **Rights (Direitos):** Defines the entitlements of investors and parties.
-   **Supervision (Fiscalização):** Establishes oversight and monitoring mechanisms.
-   **Composition (Composição):** Details the structure of the funds.
-   **Creation (Criação):** Sets forth the process for establishing new funds.
-   **Definition (Definição):** Provides key legal definitions.
-   **Quotas (Cota):** Regulates the shares or quotas held by investors.

### Official Resources and Identifiers
The full text of Law No. 8668 is available at the official government portal of the Planalto Palace: `https://www.planalto.gov.br/ccivil_03/leis/l8668.htm`.

For structured legal referencing, the statute has been assigned the LexML Brazil identifier: `urn:lex:br:federal:lei:1993-06-25;8668`. It is also included on the focus list of the WikiProject Brazilian Laws, highlighting its significance within collaborative knowledge projects.

## References

1. [Source](https://www.lexml.gov.br/urn/urn:lex:br:federal:lei:1993-06-25;8668)
2. [Source](https://legislacao.presidencia.gov.br/atos?tipo=LEI&numero=8668&ano=1993&data=25/06/1993&ato=810MzYU5ENFpWTf61)
3. LexML Brasil