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V0346-14 11 February 2014 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · socimi

Investment and income requirements may be met within two years of opting for the SOCIMI regime

A company sought clarification regarding the requirements and deadlines for adopting the special SOCIMI regime. The DGT clarifies that certain requirements, such as the corporate purpose and the registered nature of shares, must be met prior to the election, whereas investment and income requirements may be fulfilled during the two-year transitional period.

The question raised

Various issues are raised regarding the special tax regime for Listed Real Estate Investment Companies.

The DGT's ruling

The investment and source of income requirements may be exempted from immediate compliance and satisfied within the two years following the election. However, the principal corporate purpose and the registered nature of the shares must be met as a condition precedent to the election. The calculation of the two-year periods is performed from date to date from the date of the election. The 80% investment requirement is calculated based on the gross value of the assets, excluding depreciation or impairment.

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