Nicolas M. SARRIES benefit from quote to 1% with these companies without tax inspection. SICAV: society of collective investment with a minimum capital of 2.4 million. Imagine that you are rich. Very rich. And you don’t want that they fry it to taxes, so he attends a subsidiary asset manager of a large bank to see what’s theirs. There, his advisers recommend creating a sicav (society of collective investment with a minimum of 2.4 million euros capital) with which only money will be taxed at 1%. Don’t worry, you will not lose control of his fortune, since managers will seek him at least to 99 figureheads mariachi bands, in the argot of financial so do lump next to you and your sicav meets the legal requirement of having at least 100 different investors.
Fear that Hacienda discover deception? No problem, the sicav are unique societies that not inspects the tax agency; only the Commission national of the market of Valores (CNMV) controls them. Cases like this are massive in Spain, According to denounce both technicians and inspectors of finance. So much so, that the 3,077 registered SICAV currently in the CNMV over 2,700 environment 90% have 150 shareholders or less and are suspected of being private entities created to evade millions of dollars capital gains and dividends earned by partners, according to denounce the Gestha sub-inspectors. According to official data, the sicav moved a patrimony of 26,000 million euros of a few 417.600 investors. They taxed their profits at 1% and shareholders who remove their capital or receive dividends have to pay either (between 19 and 21 per cent) income tax or the corporation tax (between 25% and 30%), where it is, then, the abuse? That in reality these investment institutions could act in practice as entities under the orders of their shareholders. How to avoid this massive abuse? Hacienda technicians intend to set a personal limit on the shareholding of between 2 and 5%.
