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V3775-16 8 September 2016 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · entidades de tenencia de valores extranjeros

No mandatory to state foreign status of held entities in object clause

The consultant asks whether the object clause must specify that the entities in which the company holds shares are foreign to apply the regime for foreign holding entities. The DGT responds that the object clause is sufficient if it includes the management of holdings, without needing to specify the foreign status of the entities.

The question raised

Question posed: Whether the company must expressly include in its corporate purpose that the entities in which it participates are foreign in order to opt for the application of the Foreign Securities Holding Companies Regime regulated in Articles 107 and 108 of Law 27/2014, of November 27, on Corporate Income Tax, or whether, on the contrary, its corporate purpose can be considered adequate for this purpose.

The DGT's ruling

To apply the regime for foreign securities holding companies, the corporate purpose must include the management and administration of securities of non-resident entities through material and personal means. It is not mandatory to expressly include that said entities are foreign in the corporate purpose, provided that the holdings are included therein. Likewise, the organization of means must be proven through the means of proof admitted under Law.

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