The Diario AS Case Study, the largest sports newspaper in the Spanish-speaking world, wanted to increase its global reach in an on-going effort to deliver the best sports news to the widest possible audience. In particular, AS wanted to target the Arab region in time for the 2022 FIFA World Cup, held in Qatar. Del Canto Chambers represented AS, in a joint venture between Grupo PRISA and the Qatari media group, Dar Al Sharq.
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With our in-depth knowledge of both the Spanish and Arab cultures, as well as our sector expertise in advising global media operations on their growth strategies, we were in a unique position to advise AS on its negotiations with Dar Al Sharq.
Utilising legal teams in both Del Canto’s Spanish and Qatari offices we facilitated and presided over negotiations, managing cultural differences and handled all the legal and commercial administration for the deal.
AS Arabia was the portal created from the joint venture, and became the leading sports outlet in the Arabic language world, bringing sports information to 25 countries in the Middle East and North Africa. The deal massively increased Grupo PRISA’s Arabic readership and associated advertising revenue.
“Today is an historic day, with the signing of this agreement with Dar Al Sharq. We’re taking another step in the international development of the AS brand, with what will be a successful project“,
Manuel Mirat, Chief Executive Officer of AS.
The Beckham Rule is a special Spanish tax regime for expatriates. It allows qualifying individuals to pay a flat tax rate on employment income and to be treated as non-residents for certain other tax purposes.
Any individual who moves to Spain for professional reasons and has not been tax resident in Spain during the five previous tax years may apply. This includes employees, remote workers, directors, and certain entrepreneurs.
Qualifying income is taxed at a flat rate of 24% up to €600,000. Income exceeding that threshold is taxed at 47%.
You must not have been considered a tax resident in Spain during the five tax years immediately preceding your relocation.
Your move to Spain must be for genuine employment or professional reasons, such as:
Holding an employment contract with a Spanish or foreign companyWorking remotely from Spain under a Digital Nomad Visa
Acting as a highly qualified professional or entrepreneur conducting a business activity in Spain
Serving as a director of a company, provided that—if the company is asset-holding—you hold no more than 25% of its shares
You must apply for the regime within six months of registering with the Spanish Social Security system (Seguridad Social). This deadline is strictly enforced.
The regime applies for a total of six tax years: the year you become a Spanish tax resident and the following five full years.
The regime applies for a total of six tax years: the year you become a Spanish tax resident and the following five full years.
Under the Beckham Rule, all employment and professional income is taxable in Spain, regardless of where it is earned. However, income from non-Spanish sources—such as interest, dividends, investment income, and capital gains—is not subject to Spanish tax.
You are only subject to Wealth Tax and Solidarity Tax on assets located in Spain. Foreign assets are excluded from the Spanish tax base during the six-year period.
Your spouse and dependent children under 25 (or of any age if legally disabled) may also benefit from the regime, provided they meet the requirements and file separate applications.
If you move to Spain to act as a director, you may apply regardless of your shareholding. However, if the company is an asset-holding entity, your ownership must not exceed 25%.
If you cease to be tax resident in Spain before completing the six-year period, you will automatically lose the benefits of the regime. From that point onward, you will be taxed under the general Spanish tax system, which includes progressive rates and worldwide income taxation.
Del Canto Chambers has a specialised team ready and eager to support you to apply for Spanish nationality. If you are interested in applying and would like to know if you are eligible, we would be delighted to help you.
In accordance to the Bar Standards Board, we hereby inform you that you may contact us for a quotation.
