FAQ
Questions deserve clear answers.
Answers about investing through a token, regulation, reporting and risk, Brickken, and purchasing Bonum Consilium apartments.
Investing Through a Token
10 questionsWhat exactly am I buying, legally?
Each token represents a debt instrument issued by a Spanish company that holds the underlying projects. It is not equity and does not give ownership of an apartment. For example, in Bonum Growth I, the issuer is Genesis by Bonum Consilium, S.L., and the token represents simple bonds (obligaciones simples, meaning ordinary corporate bonds). The issuer and the exact terms of each offering are set out in its legal documents in the Brickken store: bonm1.store.brickken.com
What does the token pay?
The structure is generally similar across offerings: a fixed annual return, plus a share in the projects' profit. The rates differ from token to token. For example, in Bonum Growth I: a fixed 8% per year (simple, not compounded), paid together with the principal at the end, plus 25% of the distributable residual profit, calculated after the bank, after repayment of principal and after the fixed return. The profit share is a projection, not a guarantee. The binding terms of each token appear only in its legal documents in the Brickken store.
How long is my capital committed?
The target is to complete the business plan and repay investors within about 3 years, as apartments are sold. Legally, the term is longer, to protect the project against delays. For example, in Bonum Growth I the legal term is 5 years, extendable by one more year with the approval of the bondholders' meeting. The binding term of each token appears in its legal documents.
What is the minimum and maximum investment?
The minimum is €1,500 and the maximum is €22,500 per investor. As set out in the investment documents, special cases are reviewed individually, and an investment above the maximum may be approved on a case by case basis.
What fees do I pay?
A one-time subscription fee is charged on top of the token price, plus VAT. There are no annual management fees. For example, in Bonum Growth I the subscription fee is 5%. The fee for each offering appears in its legal documents.
What happens if an offering does not raise enough?
Each offering has a minimum amount (a "soft cap"). If it is not reached, all amounts are returned in full, including the subscription fee. Above the minimum, the funds are applied as set out in the offering's legal documents.
Can I sell my token before the end of the term?
Transfers are possible only to a person who has passed identity verification (KYC), and subject to the issuer's approval. A secondary market is not guaranteed, so you should plan to hold the token until the end of the term.
Who can invest?
Any person or company that passes Brickken's identity verification, subject to the rules of their country of residence. Some jurisdictions restrict or prohibit participation. The eligibility conditions of each offering appear in its legal documents.
Is a token the same as owning an apartment?
No. Direct purchase provides property ownership. A token provides the contractual and financial rights defined in its official documents — not ownership of a specific apartment.
How do I invest?
Review the opportunity on this website, then continue to Brickken to complete registration, verification (KYC/AML) and the investment. No blockchain experience is required.
Regulation, Structure and Risk
15 questionsStructureWhere do token holders rank if something goes wrong?
In general, token holders are unsecured creditors of the issuing company. They rank behind the financing bank, which holds a first-ranking mortgage, and behind creditors with legal priority (such as tax and social security). They rank ahead of the sponsor's equity, which is last. The exact ranking depends on the type of instrument and on insolvency law as in force at the relevant time, and it is set out in the legal documents of each offering.
StructureWho represents token holders?
Where the token represents bonds, Spanish law (as in force at the date of publication) requires a bondholders' syndicate (Sindicato de Obligacionistas), headed by an independent Commissioner (Comisario). Material changes, such as extending the term, require approval of the bondholders' meeting.
StructureIs there a prospectus? Who supervises the offering?
Our offerings are generally structured under the prospectus exemption of the Spanish Securities Market Law (LMVSI), for issues below the legal threshold, as in force at the date of publication. In each offering, a DLT register is kept by a registration entity registered with the CNMV (Spain's securities regulator), and the disclosure is validated by an investment services firm. The entities involved in each offering are named in its legal documents. The legislation may change, so please refer to the documents in force at the time of investment.
StructureWhich law applies, and how are disputes resolved?
Spanish law. The dispute resolution mechanism and the prevailing language version are set out in the legal documents of each offering.
StructureWhat are the main risks?
Permit and construction delays, cost overruns, sale prices below plan, limited liquidity, concentration in a single region, and the bank's priority. Investors may lose part or all of their capital. The full risk factors appear in the legal documents of each offering.
StructureHow are returns taxed?
Taxation depends on the investor's country of residence and on the applicable tax treaty. At the date of publication, Spanish residents are subject to withholding at source, and some non-residents may be exempt or entitled to a reduced rate. Tax law changes from time to time, so investors should take independent tax advice at the relevant time.
Is the investment guaranteed?
No. Target returns and timelines are projections. Investors may lose some or all invested capital.
How does Bonum Consilium make money?
From the success of our own projects — the sale of completed apartments and, in income-producing assets, the income they generate. We do not charge recurring management fees, and the professionals who work with us are paid against delivered results. Exact economics per token are defined in its official documents.
How will investors receive updates?
Through the reporting process defined for the relevant token and, where applicable, through Brickken.
What happens when a token is fully allocated, or completed?
It remains visible on the Invest page. A completed token presents its verified results alongside the original targets.
StructureWhy is senior bank financing an advantage for investors, rather than a risk?
Because it puts a second set of professional eyes on the project, at the bank's expense. The financing bank underwrites the project independently before lending, and its own supervising engineer certifies the construction progress before every release of funds. Construction money is paid out against verified, completed work — never in advance, never on trust. The facility is ring-fenced to the project and cannot be redirected. Senior financing also improves the project's economics, and it means a regulated institution has examined the same deal our investors are examining.
StructureWhy do you start selling apartments before construction begins?
Because it converts market risk into a checkpoint. The construction facility is activated only after a defined share of the apartments has been pre-sold — real buyers, committing real deposits, at real prices. The bank effectively tests the demand for the project on investors' behalf before construction capital is deployed: if the market does not validate the project, the construction phase simply does not begin. Pre-selling is not a sign of need; it is a structural gate we build into every plan.
StructureWhere do apartment buyers' deposits sit during construction?
In a supervised escrow account controlled by the financing bank, as required by Spanish law. The developer cannot access these funds freely, and buyers' deposits are protected if the project is not delivered. This protection is built into the Spanish system and is one of the reasons we chose it as our regulatory home.
StructureWhat actually protects investors if something goes wrong?
Several independent layers, each of which must fail before investor capital is touched: the project's contingency reserves; the sponsor's own equity, which sits behind investor capital and absorbs losses first; the bank's supervising engineer, who verifies work before funds are released; milestone-based contracts with the professionals, who are paid on delivery; and the pre-sale gate, which stops construction from starting without proven demand. We state plainly that risk exists — and we design so that it reaches the investor last.
StructureWhy don't you simply promise a fixed-price construction contract?
Because in today's market, the contractors capable of delivering at the quality we require do not commit to fixed prices — and the ones who do tend not to survive their own bids. Instead of a promise that rarely holds, we use the mechanisms that do: negotiated caps, milestone payments, retentions and indexation clauses, decades of local construction experience, and the bank's engineer certifying every stage. Where a genuine fixed price is available on terms that protect investors, we take it.
Brickken and Technology
6 questionsHow do I pay for my investment?
Three payment methods are available, according to the offering:
- A digital wallet, using the stablecoin specified for that offering.
- A credit card, through the payment system in the token's store.
- A bank transfer, only to the bank details shown in the token's store, following the instructions there.
Please note: we will never ask you to transfer funds to bank details sent by email, phone or messaging app. If you receive such a request, do not transfer any money, and contact us.
What happens if I lose access to my account?
Ownership is recorded in the official DLT register kept by the registration entity, not only in your wallet. Access is restored through Brickken's identity verification process.
Can I transfer the token to someone else?
Only to a person who has passed identity verification (KYC), and subject to the issuer's approval. The token's smart contract enforces these restrictions technically.
What happens to the token if the holder dies?
The token passes to the heirs under the applicable inheritance law. The heirs complete identity verification and provide the inheritance documents, and the register is updated.
Where can I find the full legal terms?
The binding legal documents of each offering are available only in its Brickken store: bonm1.store.brickken.com. If anything on this website conflicts with those documents, the documents prevail.
What is Brickken's role?
Brickken provides the regulated infrastructure for investor registration, verification, official documentation, payments, token issuance and investor-account access. The Bonum website presents the commercial information; Brickken is where the investment itself is completed.
Buying an Apartment
9 questionsCan non-residents buy, and can they get a mortgage?
Yes. A foreign buyer needs a Spanish tax identification number (NIE) and a Spanish bank account. Spanish banks lend to non-residents, usually at a lower loan-to-value than to residents. Buyers who need help obtaining a mortgage can be introduced to firms that specialise in financing for foreign buyers, subject to their financial eligibility. Final approval and terms are always at the lender's discretion.
Are my payments protected before the apartment is delivered?
Under Spanish law, as in force at the date of publication, every amount a buyer pays before delivery must be guaranteed by a bank guarantee or an insurance policy and paid into a special account. If the project is not completed or delivered on time, the buyer can recover those amounts plus legal interest. The law may change, so please confirm the position at the time of purchase.
What taxes and costs apply to a new-build purchase?
At the date of publication, new homes in Spain carry VAT (IVA) at 10% of the price, plus stamp duty (AJD) at the regional rate, notary and land registry fees. Rates are set by law and may change, so please confirm them at the time of purchase.
What warranties come with the home?
Under the Building Act (LOE), as in force at the date of publication: 10 years for structural defects, covered by mandatory insurance; 3 years for habitability defects; 1 year for finishing defects.
Does buying an apartment give residency in Spain?
No. Spain abolished its investor residency programme (the "golden visa") in April 2025. The law may change, so please check the position at the relevant time.
Does Bonum Consilium sell apartments directly?
Yes. Bonum initiates and develops residential projects and sells the apartments to private buyers through each project's local sales team.
Where do I find plans, prices and availability?
On the project's dedicated page. Submit the enquiry form there and the local sales team will provide current unit-level information.
How is a purchase completed?
Through the applicable local legal and notarial process of the project's market, with support from the local team.
Can I buy an apartment and also invest through a token?
Yes. The two products are independent and may be considered separately.