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V3766-15 30 November 2015 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · socimi

SOCIMIs can meet asset test without effective rental at all times

A company inquired about investment, income and maintenance requirements for SOCIMIs, particularly in groups of companies and block developments. The DGT clarifies how to calculate assets, income and maintenance periods for real estate and shareholdings.

The question raised

Various questions are raised in relation to Law 11/2009, of October 26, regulating Listed Real Estate Investment Companies as described in the body of the response.

The DGT's ruling

For the asset test, it is not required that the real estate properties be effectively leased at all times, but rather that they be intended for leasing. The three-year maintenance period is met if the development or block as a whole remains substantially leased. In groups, the percentages of assets and income are calculated based on the consolidated balance sheet and profit and loss account. Income from the capitalization of loans in the parent company must be distributed proportionally so as not to alter the calculation of eligible income.

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