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V0112-14 20 January 2014 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · socimi

No requirement to convert to a public limited company or increase capital to qualify for the SOCIMI regime

A limited company that leases real estate has requested clarification on whether it must convert into a public limited company and increase its capital to qualify for the SOCIMI regime. The DGT has ruled that this is not necessary, provided the requirements set out in Article 2(c) of the LSOCIMI are met.

The question raised

Various questions are raised in relation to Law 11/2009 which are described in the body of the response.

The DGT's ruling

The application of the special regime does not require transformation into a public limited company nor the modification of the name or capital if the entity adheres to letter c) of article 2 of the LSOCIMI. The sole shareholder may be a company listed on a regulated market, being irrelevant its effective tax regime in its country of residence. One cannot opt for the regime if the company holds interests in other entities on the date of the option, although the non-compliance may be remedied in the following fiscal year.

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