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V0040-22 11 January 2022 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · exención

Exemption from Wealth Tax may be accessed for holdings in foreign entities

A resident in Sweden inquires whether, upon moving to Spain, she will be able to apply the Wealth Tax exemption for her holdings in a Swedish holding company. The DGT responds that there is no obstacle to accessing said exemption for foreign entities if the legal requirements are met.

The question raised

Question posed: Whether, once resident in Spain, she will be entitled to the Wealth Tax exemption for said holdings.

The DGT's ruling

There is no impediment to holdings in foreign entities enjoying the exemption under Article 4.Eight.Two of the LIP. To this end, the entity's main activity must not be the management of movable or immovable property, the holding must be at least 5%, and the taxpayer must perform management functions receiving remuneration exceeding 50% of their income. The assessment of the existence of sufficient material and personal means for management is a factual matter to be evaluated by the managing body.

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