DUTY TO DISCLOSE BENEFICIAL OWNERS

In brief

The Register of beneficial owners of undertakings with legal personality and private legal persons (autonomous division), and of trusts giving rise to legal effects that are material for tax purposes and legal institutions similar to trusts (special division), is officially in effect following publication of the Decree of the Italian Ministry of Enterprise and Made in Italy (“MIMIT”) of 29 September 2023 in Official Gazette no.236 of 9 October 2023.

Details and information on beneficial ownership must be submitted to the Register of Companies within 60 days of publication of the measure: therefore, the deadline is Monday 11 December 2023.

The procedures, timeframes and details to be disclosed are set out in Decree no. 55 of the Italian Ministry of the Economy and Finance of 11 March 2022 (hereinafter the “Decree”).

Studio CT&P is available for any support in compiling and sending the beneficial owner disclosure.

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