Spanish SICAV

Spanish SICAV

You can create and participate in a Variable Capital Investment Company (SICAV) most easily with the assistance of Bankia Private Banking.

 

SICAVs are companies in which the principal can be increased or decreased up to 10 times, through the sale or purchase of its own shares.

 

Some basic characteristics of a Spanish SICAV are:

 

  • Minimum capital of 2.4 million euros .
  • Contribution in the MAB.
  • Minimum of 100 shareholders before the admission to contribution.
  • Management of the company via a Board of Directors.

Taxation

The SICAV enjoys, as a Collective investment Institution, of a fixed rate of 1% in the Corporation tax on the obtained yield during the tax period.

 

With respect to shareholders, we must differentiate between:

 

  • Individuals: the patrimonial gains derived from the transmission of the SICAV's stock pay taxes in the PERSONAL INCOME TAX in the basis of assessment of the saving to the type of one 19% for the first ? 6,000, of 21% between ? 6,000.01 and ? 50,000 and at 23% starting from ?50,000.01, regardless of the period of generation.
  • Legal persons: generated positive incomes are integrated in the basis of assessment of the Corporation tax.

Procedure for constitution

The creation of a SICAV requires numerous steps and procedures, and Bankia Private Banking handles all the paperwork.

 

  • Application for company name from the Central Commercial Registry.
  • Authorisation of the draft statutes.
  • Public deed of constitutionand registry with the Commercial Registry.
  • Application for acceptance for market listing and registration with the Collective Investment Institution Registry of the CNMV.
  • Approval and acceptance for listing by the MAB Governing Body.

 

See list of SICAVs >