The CEOs of the largest Socimis in Spain, Merlin, Colonial and Lar España, have warned that a possible change in the regulations governing these real estate investment vehicles would create “legal uncertainty for overseas investors” and alienate institutional investors from the Spanish market.
The regulation of the Socimis is on the Government’s radar; with a plan to modify the tax structure of these vehicles and apply a tax rate of 15% on their undistributed earnings. In the opinion of the CEO of Colonial, Pedro Viñolas, that would be a “shot in the foot” for Spain.
Read the full article in Spanish.
