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# What is a civil company for construction and sale ?

### ${color}[#3faae1](A type of company dedicated to property development)
The civil company for construction and sale (SCCV) is a legal form widely used by property developers. It operates like a standard civil company, but with a specific corporate purpose: to construct one or more buildings with a view to selling them, either in their entirety or in separate units.

### ${color}[#3faae1](A ‘transparent’ tax regime)
The SCCV is not taxed directly; it benefits from the tax transparency regime provided for under Article 239 of the General Tax Code. In practice, the profits made are not taxed at the level of the SCCV itself, but directly at the level of its partners, according to their own tax regimes:
* If the partner is a legal entity subject to corporation tax (IS), their share of the profits is included in their own taxable profit
* If the partner is a natural person, their share of the profits is included in their taxable income for the purposes of income tax (IR)

### ${color}[#3faae1](A lifespan limited to that of the project)
Like any civil company, the SCCV may be incorporated for a maximum period of 99 years. In practice, however, its lifespan corresponds to that of the development it undertakes: once construction is complete and all plots have been sold, the SCCV is dissolved. This is why a new SCCV is generally set up for each new property development project.

### ${color}[#3faae1](The role of the SCCV in a bond issue)
In the context of a bond issue financed on Raizers, it is generally not the SCCV itself that takes out the loan, but the holding company or SAS that owns it (the SCCV remaining dedicated exclusively to carrying out the build-to-sell project).