As we have already seen in a previous article, form D-6 is used to declare:
- Investments in shares of foreign companies whose capital is admitted to trading on stock exchanges.
- Investments in transferable securities such as bonds and debentures convertible or not into shares, promissory notes and any other similar securities.
- Investments in duly constituted foreign collective investment funds with regular public disclosure of prices.
- Acquisitions by residents of securities issued by residents and acquired in foreign secondary markets.
Since its approval in 2001, the processing of form D-6 has been maintained at levels that are manageable with the resources available to the administration. However, in recent years the number of D-6 forms submitted has grown exponentially, reaching more than 54,000 documents in 2021 and moving from a small number of investors with large investments to a large number of investors with very small individual investments. Therefore, Order ICT/1408/2021 of 14 December amends Article 47 of the Order of 28 May 2001, which establishes that a declaration must be made by holders of investments in negotiable securities in which the deposit is held with a non-resident entity and therefore requires an annual declaration to be made of the situation on 31 December of these securities. However, as of 1 January 2022, this obligation only applies if the value of the investments is equal to or exceeds 10% of the capital or voting rights or if the declaration exceeds €1,501,530.27.
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Juan Antonio Rodríguez García, Partner, TempleCambria Lawyers
+34 617073669 email@example.com
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