Since its inception in 2017 through the Tax Cuts and Jobs Act, the opportunity zone has gained traction. Having raised capital of close to $75 billion as of 2020, this is investors’ place to be. However, despite the tax benefit of creating a qualified opportunity fund or investing in an opportunity zone, many questions are still there.
How much of an opportunity zone fund can one investor own? This is among the frequent inquiries to IRS. Answering the question solely intends to provide a basic awareness of OZ.  
So how much of an OZ fund can one investor own?
The IRS doesn’t limit the percentage of one investor’s ownership in a qualified opportunity fund. However, there are requirements to invest in OZ. One of the requirements is that a Qualified Opportunity Zone Business Property must be acquired by the QOP (Qualified Opportunity Fund). An investor who is financially affiliated with this fund can’t hold more than 20 % of it.
The fund must be from an unrelated party that passes the 20% common ownership test. This requirement makes the seller of an asset in this opportunity zone also have 20% capped interest ownership in the qualified opportunity fund. 
However, things are different for investors unrelated to the property seller. There is no limitation on what percentage they can own in the Qualified Opportunity Fund. But there are other requirements the investor must meet.
Other requirements for investing in an OZ fund and Qualified Opportunity Zone 
You must be an accredited investor to qualify for investing in the OZ fund. The investor must be worth around $ 1 million. This net worth excludes primary residence. Alternatively, the investor should have an annual income of $200,000 for 2 consecutive years if you are a single tax filer. Married fillers need a net worth of $300,000. Remember that these funds come with 6 figures investment.
An investor must be classified as a corporation or a partnership. These include LLCs, real investment trusts, or corporations. They must also be organized for the sole purpose of investing in property within the Qualified Opportunity Zone.
An investor must put money in the Opportunity Zone Fund within 180 days of the sale of their assets. The fund, on the other hand must invest the proceeds in qualified assets within 6 months of receiving them from investors.
An investor can invest in the QOZ in two ways. This is through acquiring a business opportunity—tangible property within the QOZ. The other way is by acquiring an equity interest in a business that meets the zone requirements.
As long as you can retain the investment from capital gain within the given time frame, a qualified opportunity fund should be your to-go-to deferral of capital gains. But, to get everything right, employ the advice of a professional legal counselor before venturing into this investment. Remember that the potential tax legislation and capital gain rates are open to change.

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