The general director of RIC Private Equity, Enrique Guerra, expressed this weekend his satisfaction with the efforts of the Treasury technicians to complete the financing plan for the renovation of a Servatur hotel in the south of Gran Canaria. Specifically, it involves contributing 20 million euros allocated to the RIC for the improvement of the Servatur Puerto Azul, in Gran Canaria, and for the purchase of another property specialized in tourism with high spending capacity. Guerra said that AEAT officials "have risen to the occasion" by expediting the binding report and the declaration of suitability of the hotel transformation of the former Merlín apartments, in Tenerife, into a hotel complex after an investment of seven million of euros".
The declaration of suitability for the issuance of shares provides that the RIC's provisions can be materialized in the subscription of any financial instrument issued by financial entities, provided that the funds raised are destined for the financing in the Canary Islands of private projects, whose investments are suitable in accordance with the provisions of article 27.4.D.3 of the Law, it being necessary that the emissions be supervised by the Government of the Canary Islands and have a binding report from the State Tax Administration Agency (AEAT), which is what RIC Private Equity investors need to be useful for RIC purposes.
The RIC Private Equity file incorporates the favorable report from the AEAT, which considers that the planned investment and the way of materializing the RIC is suitable, establishing conditions that the investment made must meet. The AEAT highlights that the role of the vehicle company RIC Private Equity in the exploitation of the Exploitation Time Rights (main element of the activity to which the investment that is declared suitable for the RIC will be directed) must be a main role. , predominant and autonomous, and not that that role is transferred to the management company RIC Private Equity. The Ministry of Finance of the Government of the Canary Islands declares the suitability of the financial instrument to materialize the RIC, while the effective verification of the correctness of said materialization, mainly in relation to the investment to be financed, corresponds to the AEAT.