Skip to main content
Practical Manual of Companies 2023.

Box 00066 Asset-holding entity

Entities considered heritage entities will check this box as established in article 5.2 of the LIS .

• Concept of patrimonial entity

Regulation: Article 5.2 LIS

A property entity is understood to mean that, therefore, does not carry out an economic activity, one in which more than half of its assets is constituted for securities or is not subject, in the terms established in article 5.1 of the LIS, to an economic activity.

economic activity will be understood as the self-management of the means of production and human resources or one of both with the purpose of intervening in the production or distribution of goods or services.

In the case of leasing of real estate, it will be understood that there is economic activity, only when at least one person employed with a full-time employment contract is used for its management.

In the case of entities that are part of the same group of companies according to the criteria established in article 42 of the Commercial Code, regardless of residence and the obligation to prepare consolidated annual accounts , the concept of economic activity will be determined taking into account all those that are part of it.

It must be taken into account that the value of the asset, securities and assets not assigned to an economic activity will be that which is deducted from the average of the quarterly balance sheets for the financial year. the entity, or in the event that it is the dominant entity of a group according to the criteria established in article 42 of the Commercial Code, regardless of residence and the obligation to prepare consolidated annual accounts, of the consolidated balance sheets . For these purposes ##1##not be counted, where applicable, the money or credit rights arising from the transmission of assets used for economic activities or values referred to in the following paragraph, which have been made in the tax period or in the two previous tax periods.

Additionally, will not be computed as values:

  1. Those possessed to comply with legal and regulatory obligations.

  2. Those that incorporate credit rights arising from contractual relationships established as a consequence of the development of economic activities.

  3. Those owned by securities companies as a consequence of the exercise of the activity constituting their object.

  4. Those that grant at least 5 percent of the capital of an entity and are held for a minimum term of one year , with the purpose to direct and manage the participation, provided that the corresponding organization of material and personal means is available, and the participated entity is not included in this section. This condition will be determined taking into account all companies that are part of a group of companies according to the criteria established in article 42 of the Commercial Code, regardless of residence and the obligation to prepare consolidated annual accounts.