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V0533-16 9 February 2016 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · socimi

Possibility of meeting the full ownership requirements for the SOCIMI regime within a two-year period following the election

The taxpayer asks whether a company may maintain the SOCIMI regime if its ownership structure changes after having opted for the regime. The DGT responds that, in the event of subsequent changes, the requirements regarding full ownership and listing may be met within a period of two years following the option.

The question raised

Question raised 1. Confirmation that, in relation to the position of company Y, the new criterion implies that it meets the necessary requirements to apply the SOCIMI special tax regime from the 2013 tax period onwards since (i) it is wholly owned by a non-resident entity assimilated to SOCIMIs since March 26, 2015 and (ii) the other requirements established by Law 11/2009 have been met within the two-year period from the election for the application of the SOCIMI special tax regime.

The DGT's ruling

For entities under article 2.1.c), full ownership by a SOCIMI or assimilated entity must exist on the date of the option. However, if the company opted under the assumption of article 2.1.a) and subsequently undergoes a change in its structure, it may apply the regime if it meets the new ownership and listing requirements within the two years following the option. This is possible provided that substantial requirements, such as the corporate purpose or the dividend distribution policy, are not breached.

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