If you have a securities account abroad (Giro, Trade Republic and co)

If you have investments outside of Spain, how can a portfolio of securities In an online broker, the assets must be declared before the Ministry of Industry, Commerce and Tourism, and more specifically, before the Registry of Foreign Investments through the declaration of holders of investment abroad in negotiable securities.

The model corresponding to this declaration of holders of investment abroad is the model D6. This D6 model is key for companies or individuals that invest outside of Spain.

The D6 model is annual and informative

The D6 model is a informative statement and its presentation does not imply the payment of any type of taxes. This model can be completed electronically through the Ministry.

The D6 model must be presented each year to make the declaration of the investments that a company or individual has outside Spain in companies that are listed on the stock market or on organized markets, when the values ​​correspond to a entity located abroad or remain in the custody of the owner of the investment.

The regulation that regulates the presentation of the D6 model is the Resolution of July 27, 2016, of the General Directorate of International Trade and Investments, which approves the foreign investment declaration models when the one obliged to declare is an investor or company with foreign participation and that replaces the previous resolutions on this matter.

In what cases is the D6 form required to be submitted?

Companies and individuals are obliged to present the D6 form if one of these assumptions is met:

  • Declaration of deposits: The communication must be made during the month of January of the following year. All the holders of securities deposited abroad must present form D6. There are no minimums, therefore, if a broker outside of Spain is used and we have a company share, the declaration must be submitted. It does not matter whether the company is Spanish or not, what matters is where it is deposited.
  • Declaration of flows: They are obliged to present the D6 model in terms of flows in each investment of non-resident companies that have a 10 percent of the share capital of the company, or the amount of the investment exceeds 1,502,530.26 euros, and the D6 model must be carried out before the month of carrying out the operation.

The penalties for not presenting the D6 form

There are no specific penalties for not presenting the D6 form, but this in no case means that the obligation does not exist and this obligation entails some type of fine for not performing it. The possible sanctions that can be imposed for not fulfilling the obligation would be the following:

  • For not submitting the D6 form, the Ministry of Industry may impose a penalty of up to 25 percent of the amount that has not been declared with a minimum of 3 thousand euros.
  • If the declaration of form D6 is filed outside the established period, a penalty of between 150 and 300 euros the first 6 months and if more time has passed you can impose 300 to 600 euros.

Therefore, if on December 31 you have shares, funds or ETFS in a broker that you have deposited outside of Spain, we have to tell the Ministry of Industry, since the Government wants to know what investments you have. Cryptocurrencies do not have to be declared in the D6 model, since only quoted securities are declared.

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What to wear and how to present the D6 model

To carry out the D6 model, a report dated December 31, in which the open positions appear, must be requested from the foreign broker that has deposited the securities.

The D6 model can be presented in two different ways, through telematics or through the paper presentation, as follows:

  • Telematically: The D6 model is complemented through the Aforix program, which must be downloaded to the computer, the signature is electronic and is presented through telematics in the electronic headquarters of the Secretary of State for Commerce.
  • In print: It is an option for individual investors. It is filled out and printed through the Aforix program or through the form provided by the Ministry of Industry.

The D6 model has three sections to complete, which are the following:

  • Investor data: These are the data of the company or the private investor.
  • List of deposited securities or the operations that have been carried out. This section is where you must indicate the relationship of the securities portfolio that you have on December 31 of the previous year, and the information provided by the broker’s report.
  • Proceedings: Section to record the contact details of the company or private investor.

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Source: El Blog Salmón by www.elblogsalmon.com.

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