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After the Bundestag approved a slightly revised bill on 21 April 2021, the Bundesrat also approved the bill on 7 May 2021. As soon as the Federal President has signed the amended law and it has been published in the Federal Gazette, which is expected shortly, the amendments can enter into force on 1 July 2021.

Real estate investors should immediately review their holding structures with a very long term view to understand and respond to consequences.