As we have already seen in a previous article, form D-6 is used to declare:

  1. Investments in shares of foreign companies whose capital is admitted to trading on stock exchanges.
  2. Investments in transferable securities such as bonds and debentures convertible or not into shares, promissory notes and any other similar securities.
  3. Investments in duly constituted foreign collective investment funds with regular public disclosure of prices.
  4. 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


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