Our client was Grupo PRISA, the largest media group in the Spanish-speaking world. Grupo PRISA is a media powerhouse operating in Spain, Portugal, and Latin America, including substantial print media, cable television, original television and movie content, radio, and an education/textbook business.
Grupo PRISA was looking for a capital increase in its operations and Del Canto Chambers acted as their negotiator and tax advisor regarding a substantial multi-million-pound investment.
Contact us for more information about the Grupo PRISA Case Study
With our unique knowledge of both Spanish, Latin America and Arab cultures, as well as our M&A expertise, Del Canto Chambers helped Grupo PRISA secure and negotiate a capital investment from Qatari investors exceeding €100m.
Our team advised on the structure of the deal as well as on the SPV and tax implications of the investment.
he £100m investment made it possible for Grupo PRISA and the investors to develop further ventures, such as the launching of the daily sports AS for the Arab world. AS Arabia is the portal created from a joint venture between the Qatari group and the Spanish group, bringing sports information to 25 countries in the Middle East and North Africa.
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.
