{"id":21717,"date":"2026-10-05T15:38:14","date_gmt":"2026-10-05T15:38:14","guid":{"rendered":"https:\/\/seegman.com\/etve-spanish-foreign-securities-holding-companies\/"},"modified":"2026-10-23T15:51:01","modified_gmt":"2026-10-23T15:51:01","slug":"etve-spanish-foreign-securities-holding-companies","status":"publish","type":"page","link":"https:\/\/seegman.com\/en\/etve-spanish-foreign-securities-holding-companies\/","title":{"rendered":"ETVE: Spanish Foreign Securities Holding Companies"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"21717\" class=\"elementor elementor-21717 elementor-21441\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-23f20b0a e-flex e-con-boxed e-con e-parent\" data-id=\"23f20b0a\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-330673ac e-con-full e-flex e-con e-child\" data-id=\"330673ac\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-76f0686f elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"76f0686f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">ETVE: Spanish Foreign Securities Holding Companies<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-638ca6d1 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"638ca6d1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>We advise international groups, particularly European and Latin American, on structuring and managing ETVEs, a Spanish regime designed for holding and managing shareholdings in foreign entities which, where the legal requirements are met, allows efficient tax treatment of dividends, capital gains and certain distributions to non-resident shareholders.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-43e937bd e-con-full e-flex e-con e-child\" data-id=\"43e937bd\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-1f683436 e-grid e-con-full e-con e-child\" data-id=\"1f683436\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6ff979da elementor-align-left elementor-widget elementor-widget-button\" data-id=\"6ff979da\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#form\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-angle-down\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Book your consult <\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6cbd9558 elementor-align-left elementor-widget elementor-widget-button\" data-id=\"6cbd9558\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#requisitos\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-angle-down\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">See the requirements<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2685be21 e-con-full e-flex e-con e-child\" data-id=\"2685be21\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-70685039 e-con-full e-flex e-con e-child\" data-id=\"70685039\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9a9e1d5 elementor-widget elementor-widget-heading\" data-id=\"9a9e1d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">95%<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ab937af elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"6ab937af\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">General exemption on dividends and capital gains that meet the requirements<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-35658fd2 e-con-full e-flex e-con e-child\" data-id=\"35658fd2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-208bb5e2 elementor-widget elementor-widget-heading\" data-id=\"208bb5e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1,25%<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3d3c0725 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"3d3c0725\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Equivalent effective rate where the standard 25% rate applies<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5adce708 e-con-full e-flex e-con e-child\" data-id=\"5adce708\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fb9d5f2 elementor-widget elementor-widget-heading\" data-id=\"fb9d5f2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">99<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d7b1cd0 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"7d7b1cd0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Double tax treaties in force in Spain<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5adbca53 e-flex e-con-boxed e-con e-parent\" data-id=\"5adbca53\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-52fd06d5 e-con-full e-flex e-con e-child\" data-id=\"52fd06d5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1fb92102 elementor-widget elementor-widget-heading\" data-id=\"1fb92102\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">What is an ETVE?<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc329 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"bc329\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-63bdd332 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"63bdd332\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">A vehicle with substance for managing international holdings<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-715f9239 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"715f9239\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>An ETVE is a Spanish-resident entity whose corporate purpose includes the management and administration of holdings in non-resident entities and which opts into the special regime set out in Articles 107 and 108 of the Corporate Income Tax Law.<\/p>\n<p>Dividends and capital gains from holdings that meet the requirements of Article 21 may benefit from its exemption regime. In addition, the ETVE offers specific treatment for certain profit distributions and income obtained by non-resident shareholders, which can make it particularly well suited to international structures.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1e2ec47 e-con-full e-flex e-con e-child\" data-id=\"1e2ec47\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-c157e70 e-con-full e-flex e-con e-child\" data-id=\"c157e70\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e6f8409 elementor-view-default elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"e6f8409\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-pen-nib\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tArts. 107 and 108 CIT Law\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tGovern the regime for Foreign Securities Holding Entities.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b3bb9a1 e-con-full e-flex e-con e-child\" data-id=\"b3bb9a1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dd25c98 elementor-view-default elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"dd25c98\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-pen-nib\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tArt. 21 CIT Law\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tGoverns the exemption applicable to certain dividends and capital gains from shareholdings.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-394379f e-con-full e-flex e-con e-child\" data-id=\"394379f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2837961 elementor-view-default elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"2837961\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-pen-nib\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tArt. 51 CIT Regs.\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tGoverns the notification of the election into, and waiver of, the regime.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-14aea889 e-flex e-con-boxed e-con e-parent\" data-id=\"14aea889\" data-element_type=\"container\" data-e-type=\"container\" id=\"requisitos\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-3614bc11 e-con-full e-flex e-con e-child\" data-id=\"3614bc11\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3f3535 elementor-widget elementor-widget-heading\" data-id=\"4c3f3535\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Access requirements<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f26c379 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"3f26c379\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-114b3e8f elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"114b3e8f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">ETVE regime requirements<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2e2fdde e-con-full e-flex e-con e-child\" data-id=\"2e2fdde\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-3ad809d e-con-full e-flex e-con e-child\" data-id=\"3ad809d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-00efd08 e-con-full e-flex e-con e-child\" data-id=\"00efd08\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dee2bcf elementor-position-inline-start elementor-view-framed elementor-shape-circle elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"dee2bcf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tCorporate purpose:\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tMust include the management and administration of holdings in non-resident entities.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1752c54 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"1752c54\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b51a71d e-con-full e-flex e-con e-child\" data-id=\"b51a71d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8373577 elementor-position-inline-start elementor-view-framed elementor-shape-circle elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"8373577\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tAdequate organisation:\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tThere must be an organisation of material and human resources appropriate to that activity.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f726d31 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"f726d31\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3248945 e-con-full e-flex e-con e-child\" data-id=\"3248945\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c5d68d4 elementor-position-inline-start elementor-view-framed elementor-shape-circle elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"c5d68d4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tRegistered shares:\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tThe ETVE's shares or participations must be registered.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0502b2a elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"0502b2a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a998f31 e-con-full e-flex e-con e-child\" data-id=\"a998f31\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fa88ed0 elementor-position-inline-start elementor-view-framed elementor-shape-circle elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"fa88ed0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tExcluded entities:\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tAIEs (Economic Interest Groupings), UTEs (Temporary Business Unions) and entities qualifying as asset-holding entities may not opt into the regime.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3278106 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"3278106\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c28ddf4 e-con-full e-flex e-con e-child\" data-id=\"c28ddf4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e955407 elementor-position-inline-start elementor-view-framed elementor-shape-circle elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"e955407\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tElection into the regime:\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tMust be notified to the tax authorities.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c21eeda elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"c21eeda\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9e6fd8d e-flex e-con-boxed e-con e-parent\" data-id=\"9e6fd8d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-bbbbc41 e-con-full e-flex e-con e-child\" data-id=\"bbbbc41\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ecbfc8a elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"ecbfc8a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Requirements to apply the exemption on dividends and capital gains<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e685249 e-con-full e-flex e-con e-child\" data-id=\"e685249\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-93e82cf e-con-full e-flex e-con e-child\" data-id=\"93e82cf\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-df0e9e8 e-con-full e-flex e-con e-child\" data-id=\"df0e9e8\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c3ef242 elementor-position-inline-start elementor-view-framed elementor-shape-circle elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"c3ef242\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tShareholding:\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tA direct or indirect shareholding of at least 5%.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10138b4 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"10138b4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1a58bea e-con-full e-flex e-con e-child\" data-id=\"1a58bea\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a5983a3 elementor-position-inline-start elementor-view-framed elementor-shape-circle elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"a5983a3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tHolding period:\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tCompliance with the holding period provided for by law.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-de90e58 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"de90e58\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-53bc0d2 e-con-full e-flex e-con e-child\" data-id=\"53bc0d2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7e85bde elementor-position-inline-start elementor-view-framed elementor-shape-circle elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"7e85bde\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tTaxation of the foreign entity:\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tFor foreign holdings, the investee must be subject to a tax identical or analogous to Spanish Corporate Income Tax at a nominal rate of at least 10%.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9671592 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"9671592\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19bd95b e-con-full e-flex e-con e-child\" data-id=\"19bd95b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1a0f797 elementor-position-inline-start elementor-view-framed elementor-shape-circle elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"1a0f797\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tDouble Tax Treaty:\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tThis requirement is deemed met where there is an applicable DTT with Spain containing an exchange-of-information clause.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-46ee2a5 e-con-full e-flex e-con e-child\" data-id=\"46ee2a5\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ce22eb5 elementor-widget elementor-widget-heading\" data-id=\"ce22eb5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Election into the regime<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20cada6 elementor-widget elementor-widget-text-editor\" data-id=\"20cada6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The election is notified to the tax authorities using Form 036. The regime applies to the tax period ending after the notification and to subsequent periods unless it is waived.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-92b49d e-flex e-con-boxed e-con e-parent\" data-id=\"92b49d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-7f7fc7e7 e-con-full e-flex e-con e-child\" data-id=\"7f7fc7e7\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-45ef292b elementor-widget elementor-widget-heading\" data-id=\"45ef292b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Tax benefits<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e8171c0 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"2e8171c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fe50691 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"7fe50691\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">A competitive structure for international investments<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-66b9320 e-con-full e-flex e-con e-child\" data-id=\"66b9320\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-035e38e e-con-full e-flex e-con e-child\" data-id=\"035e38e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9ba7426 elementor-widget elementor-widget-heading\" data-id=\"9ba7426\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Exemption on dividends and capital gains<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36f33e7 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"36f33e7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>As a general rule, 95% of certain income from shareholdings may be exempt where the requirements of Article 21 CIT Law are met.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c444c80 e-con-full e-flex e-con e-child\" data-id=\"c444c80\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d12e428 elementor-widget elementor-widget-heading\" data-id=\"d12e428\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Treatment of distributions to non-residents<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2796006 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"2796006\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Profits distributed out of certain exempt foreign income may be treated as not obtained in Spain where the shareholder is a non-resident without a permanent establishment, subject to the legal requirements and exclusions.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1a377a5 e-con-full e-flex e-con e-child\" data-id=\"1a377a5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a0c3b2e elementor-widget elementor-widget-heading\" data-id=\"a0c3b2e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Access to Spain's DTT network<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e20a6d2 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"e20a6d2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Spain currently has 99 double tax treaties in force, whose application must be analysed in light of the structure, the jurisdictions involved and anti-abuse rules.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d24fb4f e-flex e-con-boxed e-con e-parent\" data-id=\"d24fb4f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-8b91332 e-con-full e-flex e-con e-child\" data-id=\"8b91332\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3a0f562 elementor-widget elementor-widget-heading\" data-id=\"3a0f562\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Practical example<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a2a357 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"0a2a357\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a2600c6 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"a2600c6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How it works in a real structure<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b2b923e elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"b2b923e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>A Colombian company sets up an ETVE in Spain that holds a Mexican company. If the shareholding meets the requirements of Article 21 CIT Law, the dividends received by the ETVE may benefit from the corresponding exemption.<\/p>\n<p>Subsequently, when the ETVE distributes profits out of that exempt foreign income to the Colombian shareholder, the portion meeting the requirements of Article 108 may be treated as not obtained in Spanish territory.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8f5a2c2 e-con-full e-flex e-con e-child\" data-id=\"8f5a2c2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-f94faed e-con-full e-flex e-con e-child\" data-id=\"f94faed\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5a227aa elementor-widget elementor-widget-heading\" data-id=\"5a227aa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Variant with dividends from two sources<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c55c0eb elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"c55c0eb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>If the same ETVE also receives \u20ac100,000 in dividends from a Spanish investee company, that amount also benefits from the 95% exemption at ETVE level (Art. 21 CIT Law). However, when distributed to the Colombian shareholder, the treatment differs depending on the source:<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5374a42 e-con-full e-flex e-con e-child\" data-id=\"5374a42\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-726127d e-con-full e-flex e-con e-child\" data-id=\"726127d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-96a6706 elementor-widget elementor-widget-heading\" data-id=\"96a6706\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Dividends from the Mexican subsidiary<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c4f426d elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"c4f426d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Specific treatment under Article 108 CIT Law for the portion corresponding to exempt foreign income.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5dc2f1c e-con-full e-flex e-con e-child\" data-id=\"5dc2f1c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d15b3e7 elementor-widget elementor-widget-heading\" data-id=\"d15b3e7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Dividends from a Spanish company<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c959479 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"c959479\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Do not, on that basis alone, benefit from the specific Article 108 treatment provided for income from non-resident entities. The taxation of the distribution to the Colombian shareholder must be analysed under Non-Resident Income Tax and the applicable DTT.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bf48863 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"bf48863\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Example for illustrative purposes; the specific tax treatment depends on the applicable DTT and each shareholder&#8217;s situation.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-14dedb1d e-flex e-con-boxed e-con e-parent\" data-id=\"14dedb1d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-3d9abc01 e-con-full e-flex e-con e-child\" data-id=\"3d9abc01\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7296c52 elementor-widget elementor-widget-heading\" data-id=\"7296c52\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">How to set it up<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c22e192 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"7c22e192\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2c000f67 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"2c000f67\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Step-by-step process to structure an ETVE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b1879fe elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"b1879fe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Setting up an ETVE is straightforward on paper, but qualifying for \u2014 and keeping \u2014 the special regime requires getting each step right from day one.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2f6d09ba elementor-widget elementor-widget-html\" data-id=\"2f6d09ba\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>\r\n\/* =========================\r\n   ETVE PROCESS TIMELINE\r\n========================= *\/\r\n\r\n.etve-process-en {\r\n  --accent: #F58721;\r\n  --text: #000000F5;\r\n  --line: #000000F5;\r\n\r\n  width: 100%;\r\n  box-sizing: border-box;\r\n\r\n  padding: 55px 20px 65px;\r\n\r\n  background: transparent;\r\n\r\n  font-family: \"Source Sans Pro\", sans-serif;\r\n}\r\n\r\n.etve-process-en *,\r\n.etve-process-en *::before,\r\n.etve-process-en *::after {\r\n  box-sizing: border-box;\r\n  font-family: \"Source Sans Pro\", sans-serif;\r\n}\r\n\r\n\r\n\/* =========================\r\n   DESKTOP\r\n========================= *\/\r\n\r\n.etve-process-en__desktop {\r\n  width: 100%;\r\n  max-width: 1700px;\r\n  margin: 0 auto;\r\n}\r\n\r\n.etve-process-en__grid {\r\n  position: relative;\r\n\r\n  display: grid;\r\n  grid-template-columns: repeat(5, 1fr);\r\n  grid-template-rows: 245px 42px 245px;\r\n\r\n  width: 100%;\r\n}\r\n\r\n\r\n\/* =========================\r\n   HORIZONTAL LINE\r\n========================= *\/\r\n\r\n.etve-process-en__grid::before {\r\n  content: \"\";\r\n\r\n  position: absolute;\r\n\r\n  left: 2.5%;\r\n  right: 2.5%;\r\n\r\n  top: 265px;\r\n\r\n  height: 2px;\r\n\r\n  background: var(--line);\r\n\r\n  z-index: 1;\r\n}\r\n\r\n\r\n\/* =========================\r\n   STEPS\r\n========================= *\/\r\n\r\n.etve-process-en__step {\r\n  position: relative;\r\n  min-width: 0;\r\n\r\n  display: contents;\r\n}\r\n\r\n\r\n\/* =========================\r\n   TOP \/ BOTTOM AREAS\r\n========================= *\/\r\n\r\n.etve-process-en__top,\r\n.etve-process-en__bottom {\r\n  position: relative;\r\n\r\n  display: flex;\r\n  justify-content: center;\r\n\r\n  min-width: 0;\r\n}\r\n\r\n.etve-process-en__top {\r\n  grid-row: 1;\r\n\r\n  align-items: flex-end;\r\n\r\n  padding-bottom: 26px;\r\n}\r\n\r\n.etve-process-en__bottom {\r\n  grid-row: 3;\r\n\r\n  align-items: flex-start;\r\n\r\n  padding-top: 26px;\r\n}\r\n\r\n\r\n\/* =========================\r\n   CONTENT\r\n========================= *\/\r\n\r\n.etve-process-en__content {\r\n  width: 100%;\r\n  max-width: 310px;\r\n\r\n  margin: 0 auto;\r\n\r\n  padding: 0 12px;\r\n\r\n  text-align: center;\r\n}\r\n\r\n\r\n\/* =========================\r\n   STEP POSITIONS\r\n========================= *\/\r\n\r\n\/* STEP 1 *\/\r\n.etve-process-en__step:nth-child(1)\r\n.etve-process-en__top,\r\n.etve-process-en__step:nth-child(1)\r\n.etve-process-en__marker-wrap {\r\n  grid-column: 1;\r\n}\r\n\r\n\r\n\/* STEP 2 *\/\r\n.etve-process-en__step:nth-child(2)\r\n.etve-process-en__bottom,\r\n.etve-process-en__step:nth-child(2)\r\n.etve-process-en__marker-wrap {\r\n  grid-column: 2;\r\n}\r\n\r\n\r\n\/* STEP 3 *\/\r\n.etve-process-en__step:nth-child(3)\r\n.etve-process-en__top,\r\n.etve-process-en__step:nth-child(3)\r\n.etve-process-en__marker-wrap {\r\n  grid-column: 3;\r\n}\r\n\r\n\r\n\/* STEP 4 *\/\r\n.etve-process-en__step:nth-child(4)\r\n.etve-process-en__bottom,\r\n.etve-process-en__step:nth-child(4)\r\n.etve-process-en__marker-wrap {\r\n  grid-column: 4;\r\n}\r\n\r\n\r\n\/* STEP 5 *\/\r\n.etve-process-en__step:nth-child(5)\r\n.etve-process-en__top,\r\n.etve-process-en__step:nth-child(5)\r\n.etve-process-en__marker-wrap {\r\n  grid-column: 5;\r\n}\r\n\r\n\r\n\/* =========================\r\n   STEP LABEL\r\n========================= *\/\r\n\r\n.etve-process-en__label {\r\n  margin: 0 0 10px;\r\n\r\n  color: var(--accent);\r\n\r\n  font-size: 15px;\r\n  line-height: 1.2;\r\n  font-weight: 700;\r\n\r\n  letter-spacing: 1.4px;\r\n\r\n  text-transform: uppercase;\r\n}\r\n\r\n\r\n\/* =========================\r\n   TITLE\r\n========================= *\/\r\n\r\n.etve-process-en__title {\r\n  margin: 0 0 9px;\r\n\r\n  color: var(--text) !important;\r\n\r\n  font-family: \"Source Sans Pro\", sans-serif !important;\r\n\r\n  font-size: 18px !important;\r\n  line-height: 1.3 !important;\r\n  font-weight: 700 !important;\r\n\r\n  font-style: normal !important;\r\n}\r\n\r\n\r\n\/* =========================\r\n   BODY COPY\r\n========================= *\/\r\n\r\n.etve-process-en__text {\r\n  margin: 0;\r\n\r\n  color: var(--text);\r\n\r\n  font-size: 15px;\r\n  line-height: 1.5;\r\n  font-weight: 400;\r\n}\r\n\r\n\r\n\/* =========================\r\n   CIRCLES\r\n========================= *\/\r\n\r\n.etve-process-en__marker-wrap {\r\n  grid-row: 2;\r\n\r\n  height: 42px;\r\n\r\n  position: relative;\r\n  z-index: 3;\r\n\r\n  display: flex;\r\n  align-items: center;\r\n  justify-content: center;\r\n}\r\n\r\n.etve-process-en__marker {\r\n  width: 40px;\r\n  height: 40px;\r\n\r\n  border-radius: 50%;\r\n\r\n  background: var(--accent);\r\n\r\n  border: 5px solid #FFFFFF;\r\n\r\n  display: flex;\r\n  align-items: center;\r\n  justify-content: center;\r\n\r\n  color: #FFFFFF;\r\n\r\n  font-size: 15px;\r\n  line-height: 1;\r\n  font-weight: 700;\r\n}\r\n\r\n\r\n\/* =========================\r\n   TABLET \/ MOBILE\r\n========================= *\/\r\n\r\n.etve-process-en__mobile {\r\n  display: none;\r\n}\r\n\r\n@media (max-width: 1100px) {\r\n\r\n  .etve-process-en {\r\n    padding: 45px 20px 55px;\r\n  }\r\n\r\n  .etve-process-en__desktop {\r\n    display: none;\r\n  }\r\n\r\n  .etve-process-en__mobile {\r\n    display: block;\r\n\r\n    position: relative;\r\n\r\n    width: 100%;\r\n    max-width: 800px;\r\n\r\n    margin: 0 auto;\r\n  }\r\n\r\n\r\n  \/* VERTICAL LINE *\/\r\n  .etve-process-en__mobile::before {\r\n    content: \"\";\r\n\r\n    position: absolute;\r\n\r\n    left: 19px;\r\n\r\n    top: 20px;\r\n    bottom: 20px;\r\n\r\n    width: 2px;\r\n\r\n    background: var(--line);\r\n\r\n    z-index: 0;\r\n  }\r\n\r\n\r\n  \/* EACH STEP *\/\r\n  .etve-mobile-step-en {\r\n    position: relative;\r\n\r\n    display: grid;\r\n\r\n    grid-template-columns:\r\n      40px\r\n      minmax(0, 1fr);\r\n\r\n    column-gap: 22px;\r\n\r\n    width: 100%;\r\n\r\n    padding-bottom: 46px;\r\n  }\r\n\r\n  .etve-mobile-step-en:last-child {\r\n    padding-bottom: 0;\r\n  }\r\n\r\n\r\n  \/* CIRCLE *\/\r\n  .etve-mobile-step-en__marker {\r\n    width: 40px;\r\n    height: 40px;\r\n\r\n    border-radius: 50%;\r\n\r\n    background: var(--accent);\r\n\r\n    border: 5px solid #FFFFFF;\r\n\r\n    display: flex;\r\n    align-items: center;\r\n    justify-content: center;\r\n\r\n    position: relative;\r\n\r\n    z-index: 2;\r\n\r\n    color: #FFFFFF;\r\n\r\n    font-size: 15px;\r\n    line-height: 1;\r\n    font-weight: 700;\r\n  }\r\n\r\n\r\n  \/* CONTENT *\/\r\n  .etve-mobile-step-en__content {\r\n    width: 100%;\r\n    min-width: 0;\r\n\r\n    padding-top: 1px;\r\n\r\n    text-align: left;\r\n  }\r\n\r\n  .etve-mobile-step-en .etve-process-en__label {\r\n    margin-bottom: 7px;\r\n  }\r\n\r\n  .etve-mobile-step-en .etve-process-en__title {\r\n    margin-bottom: 8px;\r\n\r\n    font-size: 18px !important;\r\n  }\r\n\r\n  .etve-mobile-step-en .etve-process-en__text {\r\n    font-size: 15px;\r\n    line-height: 1.5;\r\n  }\r\n}\r\n\r\n\r\n\/* =========================\r\n   SMALL MOBILE\r\n========================= *\/\r\n\r\n@media (max-width: 480px) {\r\n\r\n  .etve-process-en {\r\n    padding: 35px 10px 45px;\r\n  }\r\n\r\n  .etve-mobile-step-en {\r\n    grid-template-columns:\r\n      36px\r\n      minmax(0, 1fr);\r\n\r\n    column-gap: 17px;\r\n\r\n    padding-bottom: 40px;\r\n  }\r\n\r\n  .etve-process-en__mobile::before {\r\n    left: 17px;\r\n  }\r\n\r\n  .etve-mobile-step-en__marker {\r\n    width: 36px;\r\n    height: 36px;\r\n\r\n    font-size: 14px;\r\n  }\r\n}\r\n<\/style>\r\n\r\n\r\n<div class=\"etve-process-en\">\r\n\r\n\r\n  <!-- =====================================\r\n       DESKTOP\r\n  ====================================== -->\r\n\r\n  <div class=\"etve-process-en__desktop\">\r\n\r\n    <div class=\"etve-process-en__grid\">\r\n\r\n\r\n      <!-- STEP 1 -->\r\n      <div class=\"etve-process-en__step\">\r\n\r\n        <div class=\"etve-process-en__top\">\r\n\r\n          <div class=\"etve-process-en__content\">\r\n\r\n            <div class=\"etve-process-en__label\">\r\n              STEP 1\r\n            <\/div>\r\n\r\n            <h3 class=\"etve-process-en__title\">\r\n              Assess eligibility\r\n            <\/h3>\r\n\r\n            <p class=\"etve-process-en__text\">\r\n              We review the group's shareholders, the countries of the subsidiaries and the applicable tax treatment to confirm whether the ETVE is the right structure.\r\n            <\/p>\r\n\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <div class=\"etve-process-en__marker-wrap\">\r\n\r\n          <div class=\"etve-process-en__marker\">\r\n            1\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n      <\/div>\r\n\r\n\r\n\r\n      <!-- STEP 2 -->\r\n      <div class=\"etve-process-en__step\">\r\n\r\n        <div class=\"etve-process-en__marker-wrap\">\r\n\r\n          <div class=\"etve-process-en__marker\">\r\n            2\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <div class=\"etve-process-en__bottom\">\r\n\r\n          <div class=\"etve-process-en__content\">\r\n\r\n            <div class=\"etve-process-en__label\">\r\n              STEP 2\r\n            <\/div>\r\n\r\n            <h3 class=\"etve-process-en__title\">\r\n              Incorporate the vehicle\r\n            <\/h3>\r\n\r\n            <p class=\"etve-process-en__text\">\r\n              We set up the Spanish entity with a corporate purpose that includes the management and administration of holdings in non-resident entities, and with registered shares.\r\n            <\/p>\r\n\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n      <\/div>\r\n\r\n\r\n\r\n      <!-- STEP 3 -->\r\n      <div class=\"etve-process-en__step\">\r\n\r\n        <div class=\"etve-process-en__top\">\r\n\r\n          <div class=\"etve-process-en__content\">\r\n\r\n            <div class=\"etve-process-en__label\">\r\n              STEP 3\r\n            <\/div>\r\n\r\n            <h3 class=\"etve-process-en__title\">\r\n              Build the organisation\r\n            <\/h3>\r\n\r\n            <p class=\"etve-process-en__text\">\r\n              We help put in place an organisation of material and human resources appropriate for managing and administering the holdings, designed and documented case by case.\r\n            <\/p>\r\n\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <div class=\"etve-process-en__marker-wrap\">\r\n\r\n          <div class=\"etve-process-en__marker\">\r\n            3\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n      <\/div>\r\n\r\n\r\n\r\n      <!-- STEP 4 -->\r\n      <div class=\"etve-process-en__step\">\r\n\r\n        <div class=\"etve-process-en__marker-wrap\">\r\n\r\n          <div class=\"etve-process-en__marker\">\r\n            4\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <div class=\"etve-process-en__bottom\">\r\n\r\n          <div class=\"etve-process-en__content\">\r\n\r\n            <div class=\"etve-process-en__label\">\r\n              STEP 4\r\n            <\/div>\r\n\r\n            <h3 class=\"etve-process-en__title\">\r\n              Elect into the regime\r\n            <\/h3>\r\n\r\n            <p class=\"etve-process-en__text\">\r\n              We notify the election to the tax authorities using Form 036, so that the regime applies from the tax period ending after the notification.\r\n            <\/p>\r\n\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n      <\/div>\r\n\r\n\r\n\r\n      <!-- STEP 5 -->\r\n      <div class=\"etve-process-en__step\">\r\n\r\n        <div class=\"etve-process-en__top\">\r\n\r\n          <div class=\"etve-process-en__content\">\r\n\r\n            <div class=\"etve-process-en__label\">\r\n              STEP 5\r\n            <\/div>\r\n\r\n            <h3 class=\"etve-process-en__title\">\r\n              Ongoing management\r\n            <\/h3>\r\n\r\n            <p class=\"etve-process-en__text\">\r\n              We support the ETVE's corporate and tax management year after year, keeping the substance and documentation the regime requires up to date.\r\n            <\/p>\r\n\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <div class=\"etve-process-en__marker-wrap\">\r\n\r\n          <div class=\"etve-process-en__marker\">\r\n            5\r\n          <\/div>\r\n\r\n        <\/div>\r\n\r\n      <\/div>\r\n\r\n\r\n    <\/div>\r\n\r\n  <\/div>\r\n\r\n\r\n\r\n  <!-- =====================================\r\n       TABLET \/ MOBILE\r\n  ====================================== -->\r\n\r\n  <div class=\"etve-process-en__mobile\">\r\n\r\n\r\n    <!-- STEP 1 -->\r\n    <div class=\"etve-mobile-step-en\">\r\n\r\n      <div class=\"etve-mobile-step-en__marker\">\r\n        1\r\n      <\/div>\r\n\r\n      <div class=\"etve-mobile-step-en__content\">\r\n\r\n        <div class=\"etve-process-en__label\">\r\n          STEP 1\r\n        <\/div>\r\n\r\n        <h3 class=\"etve-process-en__title\">\r\n          Assess eligibility\r\n        <\/h3>\r\n\r\n        <p class=\"etve-process-en__text\">\r\n          We review the group's shareholders, the countries of the subsidiaries and the applicable tax treatment to confirm whether the ETVE is the right structure.\r\n        <\/p>\r\n\r\n      <\/div>\r\n\r\n    <\/div>\r\n\r\n\r\n\r\n    <!-- STEP 2 -->\r\n    <div class=\"etve-mobile-step-en\">\r\n\r\n      <div class=\"etve-mobile-step-en__marker\">\r\n        2\r\n      <\/div>\r\n\r\n      <div class=\"etve-mobile-step-en__content\">\r\n\r\n        <div class=\"etve-process-en__label\">\r\n          STEP 2\r\n        <\/div>\r\n\r\n        <h3 class=\"etve-process-en__title\">\r\n          Incorporate the vehicle\r\n        <\/h3>\r\n\r\n        <p class=\"etve-process-en__text\">\r\n          We set up the Spanish entity with a corporate purpose that includes the management and administration of holdings in non-resident entities, and with registered shares.\r\n        <\/p>\r\n\r\n      <\/div>\r\n\r\n    <\/div>\r\n\r\n\r\n\r\n    <!-- STEP 3 -->\r\n    <div class=\"etve-mobile-step-en\">\r\n\r\n      <div class=\"etve-mobile-step-en__marker\">\r\n        3\r\n      <\/div>\r\n\r\n      <div class=\"etve-mobile-step-en__content\">\r\n\r\n        <div class=\"etve-process-en__label\">\r\n          STEP 3\r\n        <\/div>\r\n\r\n        <h3 class=\"etve-process-en__title\">\r\n          Build the organisation\r\n        <\/h3>\r\n\r\n        <p class=\"etve-process-en__text\">\r\n          We help put in place an organisation of material and human resources appropriate for managing and administering the holdings, designed and documented case by case.\r\n        <\/p>\r\n\r\n      <\/div>\r\n\r\n    <\/div>\r\n\r\n\r\n\r\n    <!-- STEP 4 -->\r\n    <div class=\"etve-mobile-step-en\">\r\n\r\n      <div class=\"etve-mobile-step-en__marker\">\r\n        4\r\n      <\/div>\r\n\r\n      <div class=\"etve-mobile-step-en__content\">\r\n\r\n        <div class=\"etve-process-en__label\">\r\n          STEP 4\r\n        <\/div>\r\n\r\n        <h3 class=\"etve-process-en__title\">\r\n          Elect into the regime\r\n        <\/h3>\r\n\r\n        <p class=\"etve-process-en__text\">\r\n          We notify the election to the tax authorities using Form 036, so that the regime applies from the tax period ending after the notification.\r\n        <\/p>\r\n\r\n      <\/div>\r\n\r\n    <\/div>\r\n\r\n\r\n\r\n    <!-- STEP 5 -->\r\n    <div class=\"etve-mobile-step-en\">\r\n\r\n      <div class=\"etve-mobile-step-en__marker\">\r\n        5\r\n      <\/div>\r\n\r\n      <div class=\"etve-mobile-step-en__content\">\r\n\r\n        <div class=\"etve-process-en__label\">\r\n          STEP 5\r\n        <\/div>\r\n\r\n        <h3 class=\"etve-process-en__title\">\r\n          Ongoing management\r\n        <\/h3>\r\n\r\n        <p class=\"etve-process-en__text\">\r\n          We support the ETVE's corporate and tax management year after year, keeping the substance and documentation the regime requires up to date.\r\n        <\/p>\r\n\r\n      <\/div>\r\n\r\n    <\/div>\r\n\r\n\r\n  <\/div>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-31d2de2 e-flex e-con-boxed e-con e-parent\" data-id=\"31d2de2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-fd80718 e-con-full e-flex e-con e-child\" data-id=\"fd80718\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b24fc80 elementor-widget elementor-widget-heading\" data-id=\"b24fc80\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">ETVE vs. conventional holding<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76472f9 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"76472f9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bea1d4c elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"bea1d4c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Which structure works best?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe83900 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"fe83900\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The answer depends on the investment profile, the origin of the shareholders and the countries of the subsidiaries.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dc46c4a elementor-widget elementor-widget-html\" data-id=\"dc46c4a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>\r\n\/* =========================\r\n   ETVE VS ORDINARY HOLDING\r\n   COLUMN-BASED STYLE\r\n========================= *\/\r\n\r\n.etve-table {\r\n  --accent: #F58721;\r\n  --text: #000000F5;\r\n  --muted: #6F6A63;\r\n  --line: #D9D5CF;\r\n\r\n  --col-1: #FFFFFF;\r\n  --col-2: #C6D7DA1F;\r\n  --col-3: #C6D7DA33;\r\n\r\n  width: 100%;\r\n  box-sizing: border-box;\r\n\r\n  font-family: \"Source Sans Pro\", sans-serif;\r\n  background: transparent;\r\n}\r\n\r\n.etve-table *,\r\n.etve-table *::before,\r\n.etve-table *::after {\r\n  box-sizing: border-box;\r\n  font-family: \"Source Sans Pro\", sans-serif;\r\n}\r\n\r\n\r\n\/* =========================\r\n   TABLE\r\n========================= *\/\r\n\r\n.etve-table__table {\r\n  width: 100%;\r\n\r\n  border-collapse: collapse;\r\n  table-layout: fixed;\r\n\r\n  margin: 0;\r\n\r\n  border: 1px solid var(--line);\r\n}\r\n\r\n\r\n\/* =========================\r\n   COLUMNS\r\n========================= *\/\r\n\r\n.etve-table__table th:nth-child(1),\r\n.etve-table__table td:nth-child(1) {\r\n  width: 28%;\r\n  background-color: var(--col-1) !important;\r\n}\r\n\r\n.etve-table__table th:nth-child(2),\r\n.etve-table__table td:nth-child(2) {\r\n  width: 28%;\r\n  background-color: var(--col-2) !important;\r\n}\r\n\r\n.etve-table__table th:nth-child(3),\r\n.etve-table__table td:nth-child(3) {\r\n  width: 44%;\r\n  background-color: var(--col-3) !important;\r\n}\r\n\r\n\r\n\/* =========================\r\n   HEADER\r\n========================= *\/\r\n\r\n.etve-table__table thead th {\r\n  padding: 26px 28px;\r\n\r\n  border-right: 1px solid var(--line);\r\n  border-bottom: 1px solid var(--line);\r\n\r\n  color: var(--text);\r\n\r\n  font-size: 17px;\r\n  line-height: 1.3;\r\n  font-weight: 700;\r\n\r\n  text-align: left;\r\n  vertical-align: middle;\r\n}\r\n\r\n.etve-table__table thead th:last-child {\r\n  border-right: none;\r\n}\r\n\r\n\r\n\/* =========================\r\n   CELLS\r\n========================= *\/\r\n\r\n.etve-table__table tbody td {\r\n  padding: 26px 28px;\r\n\r\n  border-right: 1px solid var(--line);\r\n  border-bottom: 1px solid var(--line);\r\n\r\n  color: var(--text);\r\n\r\n  font-size: 15px;\r\n  line-height: 1.55;\r\n  font-weight: 400;\r\n\r\n  vertical-align: middle;\r\n}\r\n\r\n.etve-table__table tbody tr:last-child td {\r\n  border-bottom: none;\r\n}\r\n\r\n.etve-table__table tbody td:last-child {\r\n  border-right: none;\r\n}\r\n\r\n\r\n\/* FIRST COLUMN *\/\r\n.etve-table__table tbody td:first-child {\r\n  color: var(--muted);\r\n\r\n  font-weight: 700;\r\n}\r\n\r\n\r\n\/* =========================\r\n   NO HOVER CHANGE\r\n========================= *\/\r\n\r\n.etve-table__table tbody tr:hover td:nth-child(1),\r\n.etve-table__table tbody td:nth-child(1):hover {\r\n  background-color: var(--col-1) !important;\r\n  color: var(--muted) !important;\r\n}\r\n\r\n.etve-table__table tbody tr:hover td:nth-child(2),\r\n.etve-table__table tbody td:nth-child(2):hover {\r\n  background-color: var(--col-2) !important;\r\n  color: var(--text) !important;\r\n}\r\n\r\n.etve-table__table tbody tr:hover td:nth-child(3),\r\n.etve-table__table tbody td:nth-child(3):hover {\r\n  background-color: var(--col-3) !important;\r\n  color: var(--text) !important;\r\n}\r\n\r\n\r\n\/* =========================\r\n   TABLET\r\n========================= *\/\r\n\r\n@media (max-width: 1024px) {\r\n\r\n  .etve-table__table thead th,\r\n  .etve-table__table tbody td {\r\n    padding: 22px 20px;\r\n  }\r\n\r\n  .etve-table__table th:nth-child(1),\r\n  .etve-table__table td:nth-child(1) {\r\n    width: 27%;\r\n  }\r\n\r\n  .etve-table__table th:nth-child(2),\r\n  .etve-table__table td:nth-child(2) {\r\n    width: 30%;\r\n  }\r\n\r\n  .etve-table__table th:nth-child(3),\r\n  .etve-table__table td:nth-child(3) {\r\n    width: 43%;\r\n  }\r\n}\r\n\r\n\r\n\/* =========================\r\n   MOBILE\r\n========================= *\/\r\n\r\n@media (max-width: 767px) {\r\n\r\n  .etve-table__table {\r\n    border: none;\r\n  }\r\n\r\n  .etve-table__table thead {\r\n    display: none;\r\n  }\r\n\r\n  .etve-table__table,\r\n  .etve-table__table tbody,\r\n  .etve-table__table tr,\r\n  .etve-table__table td {\r\n    display: block;\r\n    width: 100% !important;\r\n  }\r\n\r\n\r\n  \/* EACH BLOCK *\/\r\n  .etve-table__table tbody tr {\r\n    margin-bottom: 18px;\r\n\r\n    border: 1px solid var(--line);\r\n  }\r\n\r\n  .etve-table__table tbody tr:last-child {\r\n    margin-bottom: 0;\r\n  }\r\n\r\n\r\n  .etve-table__table tbody td {\r\n    padding: 16px 18px;\r\n\r\n    border-right: none;\r\n    border-bottom: 1px solid var(--line);\r\n\r\n    text-align: left;\r\n  }\r\n\r\n  .etve-table__table tbody td:last-child {\r\n    border-bottom: none;\r\n  }\r\n\r\n\r\n  \/* CRITERION *\/\r\n  .etve-table__table tbody td:first-child {\r\n    font-size: 16px;\r\n    font-weight: 700;\r\n  }\r\n\r\n\r\n  \/* ETVE *\/\r\n  .etve-table__table tbody td:nth-child(2)::before {\r\n    content: \"ETVE\";\r\n\r\n    display: block;\r\n\r\n    margin-bottom: 5px;\r\n\r\n    color: var(--accent);\r\n\r\n    font-size: 13px;\r\n    line-height: 1.3;\r\n    font-weight: 700;\r\n\r\n    letter-spacing: 0.7px;\r\n    text-transform: uppercase;\r\n  }\r\n\r\n\r\n  \/* ORDINARY HOLDING COMPANY *\/\r\n  .etve-table__table tbody td:nth-child(3)::before {\r\n    content: \"Ordinary holding company\";\r\n\r\n    display: block;\r\n\r\n    margin-bottom: 5px;\r\n\r\n    color: var(--accent);\r\n\r\n    font-size: 13px;\r\n    line-height: 1.3;\r\n    font-weight: 700;\r\n\r\n    letter-spacing: 0.7px;\r\n    text-transform: uppercase;\r\n  }\r\n}\r\n<\/style>\r\n\r\n\r\n<div class=\"etve-table\">\r\n\r\n  <table class=\"etve-table__table\">\r\n\r\n    <thead>\r\n\r\n      <tr>\r\n\r\n        <th>\r\n          Criterion\r\n        <\/th>\r\n\r\n        <th>\r\n          ETVE\r\n        <\/th>\r\n\r\n        <th>\r\n          Ordinary holding company\r\n        <\/th>\r\n\r\n      <\/tr>\r\n\r\n    <\/thead>\r\n\r\n\r\n    <tbody>\r\n\r\n\r\n      <tr>\r\n\r\n        <td>\r\n          Exemption on dividends and capital gains\r\n        <\/td>\r\n\r\n        <td>\r\n          Article 21 of the Corporate Income Tax Law (LIS) may apply if its requirements are met\r\n        <\/td>\r\n\r\n        <td>\r\n          Article 21 of the Corporate Income Tax Law (LIS) may apply if its requirements are met\r\n        <\/td>\r\n\r\n      <\/tr>\r\n\r\n\r\n      <tr>\r\n\r\n        <td>\r\n          Distribution of foreign-source profits to a non-resident shareholder\r\n        <\/td>\r\n\r\n        <td>\r\n          The specific treatment under Article 108 of the Corporate Income Tax Law (LIS) may apply\r\n        <\/td>\r\n\r\n        <td>\r\n          The general Non-Resident Income Tax regime applies, without prejudice to any applicable DTA or exemptions\r\n        <\/td>\r\n\r\n      <\/tr>\r\n\r\n\r\n      <tr>\r\n\r\n        <td>\r\n          Organisation of material and human resources\r\n        <\/td>\r\n\r\n        <td>\r\n          Specific requirement under Article 107 of the Corporate Income Tax Law (LIS)\r\n        <\/td>\r\n\r\n        <td>\r\n          There is no specific ETVE requirement, without prejudice to any substance requirements that may be relevant\r\n        <\/td>\r\n\r\n      <\/tr>\r\n\r\n\r\n      <tr>\r\n\r\n        <td>\r\n          Formal election\r\n        <\/td>\r\n\r\n        <td>\r\n          Yes, by means of a notification to the Tax Administration\r\n        <\/td>\r\n\r\n        <td>\r\n          No\r\n        <\/td>\r\n\r\n      <\/tr>\r\n\r\n\r\n      <tr>\r\n\r\n        <td>\r\n          Specific regime\r\n        <\/td>\r\n\r\n        <td>\r\n          Articles 107 and 108 of the Corporate Income Tax Law (LIS)\r\n        <\/td>\r\n\r\n        <td>\r\n          General regime\r\n        <\/td>\r\n\r\n      <\/tr>\r\n\r\n\r\n    <\/tbody>\r\n\r\n  <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f806491 e-flex e-con-boxed e-con e-parent\" data-id=\"f806491\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-5348488 e-con-full e-flex e-con e-child\" data-id=\"5348488\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e9e65aa elementor-widget elementor-widget-heading\" data-id=\"e9e65aa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Incompatibilities<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-569158a elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"569158a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c640a0 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"1c640a0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The following may not opt into the regime<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15a7659 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"15a7659\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Entities qualifying as asset-holding entities under Article 5.2 CIT Law.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Spanish or European Economic Interest Groupings.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Temporary Business Unions (UTEs).<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-518f00f e-flex e-con-boxed e-con e-parent\" data-id=\"518f00f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2d54de1 e-con-full e-flex e-con e-child\" data-id=\"2d54de1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-67075e4 elementor-widget elementor-widget-heading\" data-id=\"67075e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Why Seegman<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e14031 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"5e14031\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15977ca elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"15977ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Experience structuring and defending ETVEs<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-41c9d27 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"41c9d27\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>We have extensive experience structuring and managing ETVEs for international groups \u2014 particularly European and Latin American \u2014 and advising on tax inspection proceedings involving the regime, in sectors including energy, food, distribution and technology.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d394b07 e-con-full e-flex e-con e-child\" data-id=\"d394b07\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-d1136e4 e-con-full e-flex e-con e-child\" data-id=\"d1136e4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-421c876 elementor-widget elementor-widget-heading\" data-id=\"421c876\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Cross-jurisdiction coordination<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cbe02f1 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"cbe02f1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Legal, tax and corporate coordination across multiple jurisdictions.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4313deb e-con-full e-flex e-con e-child\" data-id=\"4313deb\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e603499 elementor-widget elementor-widget-heading\" data-id=\"e603499\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Robust implementation<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80b35f8 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"80b35f8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>We design the corporate and tax structure in line with the regime&#8217;s requirements and the substance needed for its proper application.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e7c7e92 e-con-full e-flex e-con e-child\" data-id=\"e7c7e92\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-22d2aae elementor-widget elementor-widget-heading\" data-id=\"22d2aae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Ongoing support<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e6d36d5 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"e6d36d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Corporate and tax management of the ETVE throughout its life, not only at incorporation.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c3de3b8 e-flex e-con-boxed e-con e-parent\" data-id=\"c3de3b8\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-98348be e-con-full e-flex e-con e-child\" data-id=\"98348be\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-928e535 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"928e535\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Download our guide to ETVEs<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-900ec3d elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"900ec3d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: right;\">All the information on the regime, its requirements, tax benefits and a practical example, in one downloadable document.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20a77a5 elementor-hidden-mobile elementor-view-default elementor-invisible elementor-widget elementor-widget-icon\" data-id=\"20a77a5\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInLeft&quot;}\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<i aria-hidden=\"true\" class=\"fas fa-arrow-right\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2433ba6 e-con-full e-flex e-con e-child\" data-id=\"2433ba6\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-60222e4 elementor-skin-carousel elementor-arrows-yes elementor-pagination-type-bullets elementor-pagination-position-outside elementor-widget elementor-widget-media-carousel\" data-id=\"60222e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;speed&quot;:1000,&quot;space_between&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:18,&quot;sizes&quot;:[]},&quot;slides_per_view&quot;:&quot;1&quot;,&quot;slides_per_view_tablet&quot;:&quot;1&quot;,&quot;skin&quot;:&quot;carousel&quot;,&quot;effect&quot;:&quot;slide&quot;,&quot;show_arrows&quot;:&quot;yes&quot;,&quot;pagination&quot;:&quot;bullets&quot;,&quot;autoplay&quot;:&quot;yes&quot;,&quot;autoplay_speed&quot;:5000,&quot;loop&quot;:&quot;yes&quot;,&quot;pause_on_hover&quot;:&quot;yes&quot;,&quot;pause_on_interaction&quot;:&quot;yes&quot;,&quot;space_between_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]},&quot;space_between_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]}}\" data-widget_type=\"media-carousel.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-swiper\">\n\t\t\t\t\t<div class=\"elementor-main-swiper swiper\" role=\"region\" aria-roledescription=\"carousel\" aria-label=\"Diapositivas\">\n\t\t\t\t<div class=\"swiper-wrapper\">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"swiper-slide\" role=\"group\" aria-roledescription=\"slide\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/seegman.com\/wp-content\/uploads\/2026\/10\/ETVEs_EN.pdf\" target=\"_blank\">\t\t<div class=\"elementor-carousel-image\" role=\"img\" aria-label=\"Etves es\" style=\"background-image: url(&#039;https:\/\/seegman.com\/wp-content\/uploads\/2025\/04\/ETVEs_ES.jpg&#039;)\">\n\n\t\t\t\n\t\t\t\t\t<\/div>\n\t\t<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1c600447 e-flex e-con-boxed e-con e-parent\" data-id=\"1c600447\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-603d26c1 e-con-full e-flex e-con e-child\" data-id=\"603d26c1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-393b5beb elementor-widget elementor-widget-heading\" data-id=\"393b5beb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Frequently asked questions<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c48c882 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-left elementor-widget elementor-widget-divider\" data-id=\"c48c882\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18a47e0 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"18a47e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What we're asked most<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5751caca e-con-full e-flex e-con e-child\" data-id=\"5751caca\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f397f60 elementor-widget elementor-widget-toggle\" data-id=\"f397f60\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<h3 id=\"elementor-tab-title-2551\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-2551\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How does an ETVE differ from a regular holding company?<\/a>\n\t\t\t\t\t<\/h3>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2551\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-2551\"><p>Both structures may apply the Article 21 CIT Law exemption on certain dividends and capital gains if they meet its requirements. The ETVE also offers a specific regime for certain distributions and transfers linked to foreign-source income where the shareholder is non-resident, and requires compliance with the specific requirements of Article 107 CIT Law.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<h3 id=\"elementor-tab-title-2552\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-2552\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Can an ETVE carry out other activities besides holding participations?<\/a>\n\t\t\t\t\t<\/h3>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2552\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-2552\"><p>Yes. The regime applies only to qualifying foreign-source income; any other income from other activities is taxed under whichever regime applies to it.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<h3 id=\"elementor-tab-title-2553\" class=\"elementor-tab-title\" data-tab=\"3\" role=\"button\" aria-controls=\"elementor-tab-content-2553\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What economic substance requirements does an ETVE have to meet?<\/a>\n\t\t\t\t\t<\/h3>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2553\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"region\" aria-labelledby=\"elementor-tab-title-2553\"><p>The law requires an organisation of material and human resources appropriate for managing and administering the holdings. The specific structure will depend on the characteristics, size and complexity of the group, so it must be designed and documented case by case.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<h3 id=\"elementor-tab-title-2554\" class=\"elementor-tab-title\" data-tab=\"4\" role=\"button\" aria-controls=\"elementor-tab-content-2554\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">When is an ETVE preferable to a conventional holding?<\/a>\n\t\t\t\t\t<\/h3>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2554\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"region\" aria-labelledby=\"elementor-tab-title-2554\"><p>It can be particularly attractive where there are non-resident shareholders, significant holdings in foreign entities and a strategy of dividend distribution or future divestment. Its suitability must be analysed taking into account the jurisdictions involved, the shareholders&#8217; profile, the Article 21 requirements and taxation in the countries of origin and destination.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<h3 id=\"elementor-tab-title-2555\" class=\"elementor-tab-title\" data-tab=\"5\" role=\"button\" aria-controls=\"elementor-tab-content-2555\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Is there a deadline to elect into the regime?<\/a>\n\t\t\t\t\t<\/h3>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2555\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"region\" aria-labelledby=\"elementor-tab-title-2555\"><p>The election must be notified to the tax authorities. The regime applies to the tax period ending after that notification, so if it is intended to apply in a given year, the notification must be made before that year-end.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"How does an ETVE differ from a regular holding company?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Both structures may apply the Article 21 CIT Law exemption on certain dividends and capital gains if they meet its requirements. 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The specific structure will depend on the characteristics, size and complexity of the group, so it must be designed and documented case by case.<\\\/p>\\n\"}},{\"@type\":\"Question\",\"name\":\"When is an ETVE preferable to a conventional holding?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>It can be particularly attractive where there are non-resident shareholders, significant holdings in foreign entities and a strategy of dividend distribution or future divestment. Its suitability must be analysed taking into account the jurisdictions involved, the shareholders&#8217; profile, the Article 21 requirements and taxation in the countries of origin and destination.<\\\/p>\\n\"}},{\"@type\":\"Question\",\"name\":\"Is there a deadline to elect into the regime?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>The election must be notified to the tax authorities. The regime applies to the tax period ending after that notification, so if it is intended to apply in a given year, the notification must be made before that year-end.<\\\/p>\\n\"}}]}<\/script>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-627eb60b e-flex e-con-boxed e-con e-parent\" data-id=\"627eb60b\" data-element_type=\"container\" data-e-type=\"container\" id=\"form\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-63fa43ba e-con-full e-flex e-con e-child\" data-id=\"63fa43ba\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-3fb6bb15 e-con-full e-flex e-con e-child\" data-id=\"3fb6bb15\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-42e513db elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"42e513db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Considering structuring an ETVE?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7758c334 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"7758c334\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Tell us about your group&#8217;s structure, the jurisdictions involved and your investment objectives. Our team will analyse whether the ETVE regime is suitable and how to implement it correctly.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7e93067f e-con-full e-flex e-con e-child\" data-id=\"7e93067f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-700f890 elementor-button-align-stretch elementor-widget elementor-widget-form\" data-id=\"700f890\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;button_width&quot;:&quot;25&quot;,&quot;step_next_label&quot;:&quot;Next&quot;,&quot;step_previous_label&quot;:&quot;Previous&quot;,&quot;button_width_tablet&quot;:&quot;40&quot;,&quot;step_type&quot;:&quot;number_text&quot;,&quot;step_icon_shape&quot;:&quot;circle&quot;}\" data-widget_type=\"form.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<form class=\"elementor-form\" method=\"post\" name=\"Fiscal ETVEs form\" aria-label=\"Fiscal ETVEs form\" novalidate=\"\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"21717\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"700f890\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"Seegman\" \/>\n\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-name elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-name\" class=\"elementor-field-label elementor-screen-only\">\n\t\t\t\t\t\t\t\tName\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[name]\" id=\"form-field-name\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Name\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-email elementor-field-group elementor-column elementor-field-group-email elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-email\" class=\"elementor-field-label elementor-screen-only\">\n\t\t\t\t\t\t\t\temail\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"email\" name=\"form_fields[email]\" id=\"form-field-email\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"email\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-select elementor-field-group elementor-column elementor-field-group-field_dccbcd8 elementor-col-100 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_dccbcd8\" class=\"elementor-field-label elementor-screen-only\">\n\t\t\t\t\t\t\t\tPa\u00eds del grupo inversor\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field 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For professional legal advisory services, please contact the firm directly through the designated specialist contacts. Seegman refers to Seegman Servicios Jur\u00eddicos, S.L.P., NIF B88144852.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>ETVE: Spanish Foreign Securities Holding Companies We advise international groups, particularly European and Latin American, on structuring and managing ETVEs, a Spanish regime designed for holding and managing shareholdings in foreign entities which, where the legal requirements are met, allows efficient tax treatment of dividends, capital gains and certain distributions to non-resident shareholders. Book your [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-21717","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ETVE: Spanish Foreign Securities Holding Companies<\/title>\n<meta name=\"description\" content=\"We advise international groups, particularly European and Latin American, on structuring and managing ETVEs\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seegman.com\/en\/etve-spanish-foreign-securities-holding-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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