Commonly known as the "Beckham law", the Spanish Special Expat Regime is regulated in the Spanish Personal Income Tax Law (hereinafter, SPITL). According to its article 93, natural people who acquire their tax residence in Spain as a result of being posted to Spanish territory may opt for assessment under Spanish Non-Residents Income Tax rules instead of under the PIT rules for resident individuals provided that certain conditions are met. One if its advantages is the application of a flat tax rate of 24% on employment income along with the benefit of being taxed only on Spanish sourced income.

The Spanish Law establishes a Special Regime for companies with a share capital of at least EUR 5 million, under which the Corporate Tax rate is 0%. This Special Regime is called SOCIMI and it has its own regulation.

This is an optional regime. The option to be subject to the SOCIMI regime must be agreed by the General Shareholders Meeting and must be communicated to the Tax Agency Authorities corresponding to the company's tax domicile, before the last three months prior to the conclusion of the relevant tax period.