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Clifford Chance

Clifford Chance


New legal-tax regime for SOCIMIs

27 September 2012

Main characteristics of the new regime for SOCIMIs:
1. Zero taxation on the SOCIMI.
2. Obligatory trading on regulated markets or multi-lateral trading systems (i.e. MAB).
3. Obligatory distribution of the year's profits by means of a distribution of dividends representing at least 80% of the earnings obtained from leases.
4. Possibility of carrying out property development in SOCIMI subsidiaries and the reduction of the term for maintaining the asset in the event of development (3 years).
5. SOCIMIs with a single property asset.
6. SOCIMIs without a debt limit.
7. Minimum share capital: 5 million euros (in the form of a monetary or non-monetary contribution).

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