Should you present the Form D6 for Foreign Investments and you don’t know how? You are on the correct website, here we detail everything related to it.
In this article you will learn about Form D6, how to fill it out, what it is used for, who should manage it. Additionally, how it should be submitted, the deadline for filing it, and the possible penalties in case of submitting it. In such a way that, we invite you to continue reading what we have for you.
How is Form D6 for Investments Abroad?
This is a very well structured Form, which clearly specifies each space that must be completed. This document is divided into several sections, which are named below:
- Investor information.
- The list of securities deposited or operations carried out.
- Then there is the stagecoach space.
It is important to place each required data, in order to provide what is necessary for the Form to be processed, quickly and especially to generate delays in the process. In the next point, it is explained how this document should be filled out.
Filling of Form D6 for Investments Abroad
Complete the Form D6 for Investments Abroad too easy. Before starting, it is necessary to gather the necessary documents, and that can be requested from the foreign agent with whom the securities are held. Through the following link you can download the Trade support program called Aforix.
This can be installed on the PC, it is available for: MacOS, Linux and Windows. After doing this, the next step is to fill the Form D6 for Investments Abroad, and choose it from the list of Forms provided by the program.
The steps to follow are named below:
- Indicate in the respective field when it is a question of a statement of flows or a statement of deposits.
- Place if it is a correction and supply the declaration number to be replaced. The procedure for filling out the Form does not vary, even when the previous information is being corrected, because the new declaration will replace the old one.
- Fill in the investor information. These include surnames, names or the business name of the companies, together with the Tax Identification Number (NIF) or the Foreigner Identification Number (NIE), and address information.
- Complete the investment information, where you have to provide specific information about each position.
- Determine the type of transaction. That is, if it is a statement of flows, buy them from recognize with the number two (2) and the sales with the number four (4). This field is superfluous for the declaration of deposits.
- The transaction date. It will only be applied to the declaration of flows.
- Contribution greater than or equal to 10% of the capital. It should simply be noted whether or not this rule is obeyed.
- The code ISIN (International Securities Identification Numbering System). Which should be reflected in the data that is requested from the agent.
- Name of the security, for which the investment has been made.
- The issuer, indicating its nature code, whether or not you are a resident.
- Estimation of the title according to its character. In this field it is indicated if it is a tax title, shares with voting rights, long-term debt, etc.
- The country where the operation was performed.
- Type of currency in which the value has been designated.
- The amount of titles obtained or in deposits.
- Representation in the designated currency, in other words nominal of the deposit.
- Total cost of the position in the currency in which the security is designated.
- To conclude in the “Proceedings” space, you must indicate the address to receive communications and if the person granting the declaration is a representative of the interested party.
Usefulness of Form D6 for Investments Abroad
The Form D6 for Investments Abroad, is subject to the Ministry of Economy, which provides two hypotheses for its consignment. One is to have some investments abroad and another when there is a fundamental amount of investment. This is distinguished as a statement of deposits or statement of flows.
The usefulness of the Form is detailed below:
In the Deposit Statement
Under this condition no amount is taken into consideration, it is enough to have values that estimate deposits in entities outside Spanish territory. In such a way that, the Form for Spanish shares must be consigned, if they are with a foreign agent. The Ministry of Economy, takes into consideration the positions as of December 31.
For this purpose, stocks, ETFs, including investment funds must be taken into account. This is because they are all estimated as marketable securities for the purposes of Form D6 for Foreign Investments.
The Flow Statement
Likewise, it is mandatory to make the declaration of flows for each liquidation or investment, which is made in non-resident companies, which is presumed to reach 10% of the share capital or if said percentage already exists. When the amount is greater than € 1,502,503.26 eurosIt will also be required to make the declaration of flows.
Who should process it?
This Form must be submitted by all those individuals with investments in institutions, which value in the stock market or some secondary market located in foreign entities (Deposits). Also that they make investments or divestments in non-resident companies.
Investments or rights of any kind not traded on the Stock Exchange or in supplementary markets, should not be incorporated into the Form D6 for investments abroad.
Additional Requirements for the Procedure
There are some requirements that must be attached to the application for Form D6. which are named below:
- You have to download and install the program known as Aforix.
- Have a portfolio summary as of December 31. This will be used to review the information that is required and attach when the Form is submitted.
- The National Identity Document (DNI) in copy, which must be attached to the Form.
- Digital certification installed o National Identity Document (DNI), if you want to submit electronically and not have to resort to the Post Office or any of the Government Offices with an entry record (this entry will help as guidance).
What is Form D6 for Investments Abroad?
This Form is a statement to make the registration of investments of Spanish origin, which are made abroad. Specifically in companies that value on the Stock Exchange, that is, the estimates that are deposited abroad or are under the protection of the person who owns the investment.
In the case of owning shares, ETFs or funds in a broker that does not store the securities in Spain as of December 31, it is mandatory to enter the Form D6 for Investments Abroad. This regardless of whether you have 5,000 shares or just one.
The stipulated time to submit Form D6 is until December 31. This documentation must be delivered every year, while on December 31 of the previous year shares are owned abroad. This in order to legally comply with the regulations.
Can I receive any sanction if I do not file Form D6 for Investments Abroad?
Until now, there is no known sanction for not filing Form D6, however, this does not mean that they will not be imposed. Notably, it is the duty of every investor do it. The penalties that could be faced in such a case are listed below:
- For not filing Form D6, the Ministry has the power to set a penalty of up to 25% of the amount that has not been declared, at least for a balance of € 3,000 euros.
- Consign the Form on the date which is not, involves a penalty between € 150 and € 300 euros in the first six (6) months, and from € 300 to € 600 euros after that date.
How to file Form D6 for Investments Abroad?
After completing the Form, it must be submitted in accordance with the legal provisions. The Treasury offers two (2) options to obey this regulation: By regular mail through the General Administration Registry and electronically.
Via Traditional Mail
When delivering it via mail, which is the usual way, you only have to print the Form Through the help program, duly signed and send it with the National Identity Document, as well as a summary of the broker as of December 31 to the address mentioned below:
Office of the Ministry of Economy, Industry and Competitiveness, at Paseo de la Castellana 162, Madrid 28046. In the issuer field, place “Att: General Secretariat for International Trade in Services and Investments”. It is important to note that only individual investors have access to this modality.
To submit the Form online, you must have a digital certification, which it will be useful to sign the documentation. When carrying out the transaction, the program will store the Form. Then it will direct you to another available screen, where you must indicate the Form that has been signed.
Subsequently, attach a scanned copy of the National Identity Document (DNI). Likewise, a photo and the broker’s certification can be useful. Upon completion, the program will offer the alternative of downloading the documentation and thus possessing a stamped copy. At this point the Form would be consigned.
Record the Form D6 for Investments Abroad It does not take a lot of time, which is a reason to do it and avoid some type of sanction that the Ministry may issue. This in order to comply with this fiscal responsibility.
By meeting the requirements and following the steps outlined previously, you are ready to begin the Form D6 processing process.
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