In our conversations with investors, we know that the tax implications of investing are one of their main concerns. That is why, in this article, we are going to explain it in simple terms, without technical jargon.
When participating in our projects, investors can choose between two formats: the "Ticket" format or the "Equity" format. In the "Ticket" format, the investor makes a loan to the company to finance the project (using loans from investors and our own resources, we acquire the property in question). This loan is backed by a first mortgage guarantee. In this format, the investor acts as a "bank" and obtains a fixed return.
In the "Equity" format, the investor becomes a partner in the company through a capital increase with an issue premium. In this format, the investor/partner obtains the same final return generated by the project.
Now, what are the tax consequences of these two types of investment?
In the "Ticket" format, the investor receives interest on the loan made to the company, which is taxed in the income tax return as capital gains. This interest is added to the general tax base, together with income from work, capital gains from real estate (rental income), and others. Therefore, the marginal income tax rate that the investor pays on their income will determine the increase due to the interest on the investment.
In the "Equity" format, the investor obtains a return in the form of dividends that are distributed with the profits from the project. These dividends are taxed in the income tax return and added to the taxable savings base, with a fixed rate of 19%*.
In both cases, before paying investors, the company withholds 19% for withholding taxes and payments on account, as required by law. This withholding coincides with the taxation of dividends in the "Equity" format, so it has no effect on income. It also helps to improve taxation in the case of the "Ticket" format.
In conclusion, each investment modality has its advantages and disadvantages. In the "Ticket" format, profitability is assured, but it can have an impact on income. On the other hand, in the "Equity" format, profitability depends on the performance of the project, but there is no effect on income.
Remember that, as an investor, it is important to analyze and understand the tax implications before making a decision. At Reditas, we are committed to providing you with transparency and advice every step of the way.
*19% up to €6,000; 21% between €6,000 and €50,000; 23% above €50,000
Our team's goal is to acquire real estate, renovate it, and sell it, thereby generating attractive short-term returns. We add value to real estate properties in the exclusive neighborhoods of San Sebastián.
Tax advisor and real estate investment consultant. He has driven and led Reditas since its inception: identifying opportunities, structuring transactions, and maintaining direct relationships with investors and partners. With in-depth knowledge of the San Sebastián market, he is involved in every project, ensuring sound judgment, oversight, and execution.
Bachelor of Business Administration from the University of the Basque Country.
Responsible for the execution of real estate projects. He has a proven track record in construction and renovation, ensuring that deadlines, budgets, and quality standards are met on every project.
He holds a degree in Industrial Engineering from the Polytechnic University of Catalonia and an MBA from ESADE.
Working closely with senior management, he oversees the proper functioning of the management company across various areas, including communications, finance, sales, and others. He maintains direct contact with investors, financial institutions, the various construction companies with which we collaborate on construction projects, and the real estate firms that market our assets. Drawing on his legal expertise, he advises on and participates in the preparation and review of the company’s legal documentation.
Bachelor of Laws from Pompeu Fabra University.
With over 20 years of experience, he specializes in designing investment solutions for high-net-worth clients. At Reditas, he builds relationships with investors based on trust, transparency, and a long-term vision.
He holds a degree in Telecommunications Engineering from the UOC and is a certified financial advisor and wealth manager from the FEF School, Spanish Institute of Analysts.
Responsible for on-site technical execution, he coordinates teams and oversees every phase of the project to ensure quality, efficiency, and control throughout the renovation process.
He holds a degree in Public Works and Civil Engineering from the Polytechnic University of Catalonia.
She combines a keen eye for design with a practical and strategic approach. She plays anactive role in defining and developing projects, optimizing each space to maximize its value and functionality.
She holds a degree in Architecture from the University of the Basque Country.
She brings a strategic perspective to design, grounded in consumer behavior. Her work goes beyond aesthetics, focusing each space on making an impact and facilitating the purchasing decision.
, Certified Marketing and Advertising Specialist from CEBANC.
Responsible for developing Reditas's narrative. She works on creating content that clearly and accessibly conveys the value of each project, building trust with investors through transparency.
She holds a degree in Journalism from Ramón Llull University.
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