Doctrine by topic · DGT Observatory
How the DGT's position on this topic has evolved, and the rulings it rests on.
Current position
Regarding the non-monetary contribution regime, the contributor must maintain at least 5% of the recipient entity's equity and must have held the shares uninterruptedly during the previous year. The recipient entity must be a resident in Spain and its main activity cannot be wealth management. It is required that the operation does not have the primary objective of tax fraud or evasion.
The DGT's position remains constant in the application of the requirements for a minimum 5% participation and the uninterrupted holding of shares. The rulings reiterate the need for the recipient entity to be a resident in Spain and for the operation to lack tax evasion purposes. No changes are observed in the substantive requirements of the exchange or contribution regimes during the analyzed period.
Turning points
Introduces the exclusion from the regime when the economic rights originate from non-cooperative jurisdictions, as in the case of Guernsey.
Analysis based on 57 of 59 rulings with a stated position. Updated 6 August 2026.