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V1479-22 21 June 2022 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · socimi

A Spanish subsidiary could apply for SOCIMI regime if its Belgian parent meets social object, dividend policy and share characteristics requirements

A Belgian company asks whether its Spanish subsidiary can access the SOCIMI special tax regime. The DGT examines whether the parent company meets requirements on social object, dividend policy, share quotation and nominal character.

The question raised

It is asked whether it can be understood that the consulting company complies with the necessary requirements to be considered a non-resident entity in Spanish territory with a corporate purpose and a mandatory, legal, or statutory profit distribution policy similar to that established for SOCIMIs, in accordance with the provisions of Article 2.1.b) of Law 11/2009, of October 26, regulating Listed Real Estate Investment Companies, and consequently, a Spanish subsidiary 100% owned by the Company would fulfill the requirement established in the second paragraph of Article 2.1.c) of the aforementioned Law.

The DGT's ruling

In order for the Spanish subsidiary to opt for the SOCIMI regime, the Belgian parent company must comply with the corporate purpose of acquiring and leasing real estate, a profit distribution policy similar to that of Article 6 of Law 11/2009, and listing requirements. The registered nature of the shares is deemed satisfied if it is possible to identify the shareholders (at least 95%) to guarantee minimum taxation. The DGT cannot confirm the similarity in profit distribution if the agreed period is not specified and if it is applied to the profit for the financial year.

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