Why We Use a Spanish S.L. — and Not Private Multi-Owner Titles
In Spain, multiple individuals can co-own a property directly on the title deed. But in practice, this creates serious legal, tax, and administrative complications — especially for international owners.
The Problems With Direct Co-Ownership:
- Ownership changes (e.g. sale or inheritance) must be made through a notary with unanimous consent from all co-owners
- Transactions are slow, costly, and complex — often taking 6–12 months
- There is no built-in governance, no voting rights, and no simple exit strategy
- Disputes are hard to resolve, and financing options are limited or unavailable
- Cross-border ownership adds layers of legal and tax complexity
The Mallorca Homebase Model: One Property = One Company
Each Mallorca Homebase property is owned through a newly created Spanish limited company (S.L.), established exclusively to own and manage a single home.
The company has 52 shares in total — one for each week of the year:
1 Share = 1 Week = 1 Vote
- All shares carry equal rights and obligations
- Owners typically purchase 4 to 12 shares, giving them up to a quarter of the year
- Shares can be owned by private individuals or by companies based in the EU/EEA, the UK, the US, or Commonwealth countries (e.g. Canada, Australia, New Zealand)
- Spanish-speaking and Latin American buyers are especially welcomed, reflecting Mallorca’s strong ties to these regions
- Buyers from other regions, such as parts of Asia or Africa, may be accepted on a case-by-case basis, subject to unanimous written approval from existing co-owners
All ownership is managed and recorded in real time on Ledgy.com, the official digital cap table platform used by Mallorca Homebase.
Registration in the Spanish Mercantile Registry is not required for each shareholder but can be done once a year, if needed, for formal reporting purposes.
This setup maintains full legal protection while avoiding unnecessary notarial complexity — and supports a transparent, efficient resale process.
Transparent, Digitally Managed Ownership
Each HOMEBASE S.L. company is supported by a structure designed for legal clarity, accountability, and long-term value.
Cap Table Managed by Mallorca Homebase & Local Administrator
- Mallorca Homebase, together with the appointed local administrator, maintains the official cap table
- Ownership is tracked via Ledgy.com, ensuring:
- Real-time updates
- Visibility for all co-owners
- Smooth onboarding and exits
- Document access and voting tools
Audited Annually by Global Consulting (Santa Ponsa, Calvia, Mallorca)
- Global Consulting handles all financial reporting, annual accounts, and legal filings for each HOMEBASE S.L.
- Also responsible for executing share transfers and maintaining the legal documentation on behalf of the company
- Provides shareholder tax summaries for local filings in each owner’s home country
No Notary. No Delays. No Surprises.
One of the key benefits of this model is that ownership transfers do not require notary involvement. Instead:
- Transfers are processed by Global Consulting via private contracts
- All documentation is handled digitally and stored securely
- Updates to the shareholder register are made directly and efficiently
This means no travel, no long waits, and no unnecessary legal costs — while maintaining full legality under Spanish and EU law.
Annual Tax Support – For All Co-Owners
Every year, Mallorca Homebase (in cooperation with Global Consulting) provides each co-owner with:
- A usage and ownership summary
- A breakdown of shared operational costs
- The necessary documents for your private or corporate tax filing in your home country
This ensures full cross-border tax compliance, without additional administrative burdens.
Resale and Tax Responsibilities
Sale Profits and Taxation
- Sale prices are set freely between buyer and seller
- Any profit from selling shares must be declared by the seller and taxed according to their local regulations
- Mallorca Homebase and the company do not withhold or manage capital gains taxes
Note for Company Investors
If a shareholder chooses to invest via their own company, and that company is based in a jurisdiction with strict tax rules on private use, they may face:
- Higher personal tax exposure
- Deemed income or benefit taxation
- Additional disclosure obligations
This does not refer to control of the HOMEBASE company itself, but to how ownership is treated in the investor’s home country.
We strongly recommend seeking independent tax advice before investing via a corporate structure — especially if you’re considering purchasing multiple shares.
No Majority Control Without Safeguards
- No shareholder may hold a majority of shares (i.e. more than 50%) in any HOMEBASE company without triggering consequences defined in the Owners’ Agreement
- These provisions are in place to protect group balance, resale value, and tax safety
- All ownership structures must align with the co-ownership model and its long-term intent
A Smart Ownership Model, Built for the Future
By combining:
- A Mallorca-based legal company structure
- Digital share management via Ledgy.com
- Experienced auditing and compliance by Global Consulting
- A balanced, international ownership model
Mallorca Homebase delivers:
- Legal ownership
- Equal voting rights
- No notary delays
- Transparent resale process
- Full tax support
- Professional local administration
- High secondary market potential
