Extensive and expert due diligence with knowledge of the local market is essential to the success of an M&A transaction. Del Canto Chambers’s Due Diligence team is highly experienced in ensuring strategic transactions are in your best interests.
Our in-depth understanding of business dynamics in key industries in Spain allows us to offer advice on all the transactional aspects, including the Spanish and EU M&A implications and all necessary tax & legal advice. In addition, we will be a trusted advisor to your in-house legal team to ensure the deal is robustly scrutinised and any identified risks reported throughout the due diligence process.
The Del Canto Chambers comprehensive Due Diligence Report meets ISO 9001 standards. It includes Corporate & Governance, Sarbanes-Oxley and Financial regulations, Financials and Tax compliance, Intellectual Property, Data Protection and Privacy Laws, IT, Employment, Property, Pending Litigation, tax and regulatory inspections, Insurance, Government regulations and all other regulatory matters, as related to the deal.
Below are the five main steps of our due diligence process:
Del Canto Chambers has completed several due diligence for business acquisitions, commercial and residential properties in Spain, including the following ones between €150-400 million per acquisition:
Our team understands the complexities of international tax, commercial, and regulatory law and will meticulously examine every transaction detail. As a result, you can be confident that when you close the deal, no unpleasant surprises await.
A Del Canto partner will stay involved throughout the work to ensure you experience a seamless service. This connection provides both consistency and intimate knowledge of your business and the ability to be proactive in our advice and representation. We will also help you navigate the transactional process by coordinating the professionals involved.
A joint venture formed to create the leading sports media outlet in the Arabic language world.
Advised an international client on a SOCIMI acquisition of the Plaza España building in Madrid.
Advised Jani-King, the world’s biggest franchise company, on structuring its European franchise operations.
Advised the British company Sunseeker International on the restructuring of their Mediterranean operations.
Advised Huffington Post on a joint venture with the Integral Media Group to launch HuffPost Arabi.
Advised on the acquisition of two Spanish companies using a Luxemburg structure.
Advised Grupo PRISA on securing and negotiating a capital investment of £100m from Qatar.
Del Canto Chambers’ dual-qualified, multilingual tax lawyers have handled over 500 complex cases from Europe, the Middle East, Latin America, and Asia. Discerning London-based and international clients, corporations, solicitors, and tax advisors count on our expertise.
You can more about what clients have to say, about working with Del Canto Chambers here below.
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.
Del Canto Chambers specialists are constantly up to date with new legislative changes and aware of any Spanish tax and legal implications. Contact our Spanish legal and tax specialists to find out the best tax planning and corporate structures in your circumstances.
At Del Canto Chambers we are always sharing our knowledge and act as an active voice across different media. The following articles and news are related to and relevant for Real Estate Sale & Purchase and Spanish Tax Law.
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