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The SOCIMI will continue to be a fiscally efficient instrument despite the changes proposed by the Government.

| News | Real Estate / Tax

SOCIMI 2.0 Day. Lessons from the past and future opportunities organised by Andersen Tax & Legal and Armabex, with the participation of the President of Armabex, Antonio Fernández, and the partners of the Andersen Tax & Legal team, Javier Vinuesa, Gonzalo Cerón and Maite Hernández.

The SOCIMI will continue to be a fiscally efficient instrument despite the changes proposed by the Government.

Madrid, 15th November 2018.- After almost 10 years since the publication of the first regulation regulating SOCIMI (Listed Companies of Real Estate Investment) and with the regulatory development experienced in the last five years, these will continue to be the most efficient instrument from a fiscal point of view to exploit real estate, even in the event that the Government's proposal to tax 15% of the profits not distributed by SOCIMI is approved.

This was evident during SOCIMI 2.0 Day. Lessons from the past and future opportunities organised by Andersen Tax & Legal and Armabex, with the participation of the President of Armabex, Antonio Fernández, and the partners of the Andersen Tax & Legal team, Javier Vinuesa, Gonzalo Cerón and Maite Hernández.

During his speech, Javier Vinuesa stated that the change proposed for 2019 could generate treasury tensions for some SOCIMI and double taxation assumptions. However, even if this change is approved, SOCIMI's tax regime will continue to be the most efficient for exploiting real estate, with many advantages also in the area of indirect taxation.

For his part, Gonzalo Cerón said that a structure such as SOCIMI provides transparency and better corporate governance, so it may be especially interesting for family businesses that want to value their real estate assets and professionalize the management of such assets.

Antonio Fernández also spoke along these lines, opening the possibility of listing on other alternative markets such as Euronext, where the dissemination requirements are different from those of MAB (AIM). He also analysed in detail the process of creating a SOCIMI and the costs associated with this type of project.

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