FIS VS OPC VS SICAR comparison

Why invest in an FIS rather than a SICAR or an OPC?

Compared to Collective Investment Schemes (OPC):
A greater flexibility in terms of structure and investment rules (Law of 20/12/2002). A lighter prudential regime (no institutional promoter requirement, no obligation to create a legal reserve), and access to informed investors, even a single investor. Conversely, there is no public placement, and no European passport.
Compared to a SICAR:
The FIS can invest in all types of assets (not only high-risk ones), but must adhere to the risk diversification principle (similar to a fund – EU Directive 2003/71/EC on prospectuses). The FIS can take any legal form, while the SICAR is organized as a company. As a result, the tax regime for an FIS is that of a fund (i.e., only the subscription tax), while the SICAR benefits from broader tax exemptions.