Post by account_disabled on Feb 20, 2024 0:14:20 GMT -5
Tax offices are offering to divert capital to investment vehicles located in Andorra that guarantee total privacy, greater profitability and do not require a minimum number of shareholders. The PSOE imitates Podemos and will consult citizens about its electoral program Podemos's new 'salary for all' depends on a transfer from Brussels Albert Rivera presented himself to businessmen as the promoter of “tripartism” in Spain Albert Rivera and Pablo Iglesias in the 'Salvados' debate. Albert Rivera and Pablo Iglesias in the 'Salvados' debate. Updated: 10/30/15 | 15:44 The political crusade against Sicav is one of the most powerful electoral weapons. PSOE, Ciudadanos and Podemos consider these instruments a mechanism for the great Spanish fortunes to save taxes using unorthodox tricks. The simple announcement of reviewing them has already mobilized the tax advisors of these high net worth individuals. As El Confidencial Digital has learned from sources close to various tax offices, the professionals of these firms are already reassuring their VIP clients by presenting them with an alternative to these Spanish SICAVs that are now in the crosshairs of emerging parties.
They confirm that inquiries from large fortunes on this matter have skyrocketed in recent days. Specifically, they are informed that variable capital investment companies in Andorra are especially attractive for Spanish assets of between two and ten million euros . For several reasons: for their lower costs and for the total privacy they provide. None of these advantages can now be achieved in Spain. In Andorra, furthermore, there is no stipulated minimum number Middle East Mobile Number List of shareholders that the company needs to be established and considered as a collective investment instrument and, therefore, benefit from the different tax advantages it provides. In Spain, a minimum of 100 participants are required per Sicav . They provide total privacy to the investor These companies are under the supervision of the Andorra National Institute of Finance (INAF), which is the local body that assumes in the neighboring country the roles carried out here by the Bank of Spain and the CNMV.
They are subject to audit before the Andorran regulator. But they only have to be registered with the depositary bank and its management company, that is, there is no registration as such. Spanish Sicavs have to be registered with the CNMV , which includes the quarterly update of the portfolios, so the investment decisions of the shareholders are in the public domain. The minimum equity to establish a Sicav is 1.25 million in the Andorran case, compared to the 2.4 million required in Spain . The assets in which you can invest are also allowed to be real assets, and not just financial ones. The crusade against Sicav in 'Salvados' A few days ago, the leaders of the two emerging parties in Spain, which will play a relevant role in the Parliament that comes out of the polls on December 20, were extremely critical of the Sicav during Jordi Évole's 'Salvados' program. Pablo Iglesias directly advocated ending all of them: “They are a device so that the rich do not pay taxes ,” he stated.