I would greatly appreciate if you could answer to following two questions.
Please refer to the question No.1 and 2 below.
No.1: Validation route for Equity REITs which are SMEs
In the case of Equity REITs which are SMEs, non-subsidiary, independent company with fewer than 500 employees, I am wondering if they should apply for the validation process as not a SME route but a regular route.
I understand that Equity REITs are not a target audience of financial sector SBT guidance according to the document below (, especially page19).
However, it seems that the application form for SMEs describes Equity REITs cannot validate targets using the SME streamlined route due to its uniqueness.
Please refer to the “Please also indicate if you are the following types of companies: ” on the 3 page of following link.
No2: Base year setting for SMEs
On the application form for SMEs ( link is the same as above), it seems that we can select one year from the most recent three years (2018, 2019 and 2020, currently) as a base year.
Even after 2022 starts (year of 2021 is over), could we still select 2018 as a base year?
We hope we can choose 2018 as a base year, however, we are afraid that we could not do that because of the time we send a form. I wonder if we can select 2018 as a base year whenever we apply for the SME route.