Fiduciary mandates without registration

As part of the evolution of the fiduciary administration activity, for certain types of administered assets, Unione Fiduciaria offers a fiduciary mandate without registration.

Under this mandate, the Client entrusts the fiduciary company to administer assets while retaining their registration in the Client’s name.

The fiduciary company:

  • operates on the administered assets only upon written instructions from the Client (or their proxy)
  • channels any outgoing and incoming financial flows connected to the administered assets
  • calculates and processes, where applicable, the withholding taxes or substitute taxes provided for by the tax law on income deriving from the activities covered by the fiduciary relationship
  • performs the necessary communications to the Italian Tax Authorities
  • performs its administrative duties only if sufficient funds are provided by the Client

Equity investments in non-Italian limited companies

  • Fiduciary Administration whereby the registration of the administered non-Italian real estate is retained in the name of the Client.
  • Channeling of outgoing and incoming financial flows connected to the shareholdings in non-Italian limited companies (for example: dividends, execution and repayment of shareholder loans, purchase or sale price of shareholdings).
  • Where applicable and subject to the provision of funds, calculation and process of IVAFE (tax on the value of financial assets held outside of Italy).
  • Exemption from the obligation for Italian tax residents to declare the shareholdings in non-Italian limited companies (and related inflows and outflows) in the ‘RW section’ and other related sections of the Italian tax return.

Real estate held outside of Italy

  • Fiduciary Administration whereby the registration of the administered non-Italian real estate is retained in the name of the Client.
  • Channeling of outgoing and incoming financial flows connected to properties (e.g. rents, purchase or sale price of properties).
  • Where applicable and subject to provision of funds, calculation and process of IVIE (Tax on the value of properties located outside of Italy).
  • Exemption from the obligation for Italian tax residents to declare the real estate held outside of Italy (and related inflows and outflows) in the ‘RW section’ and other related sections of the Italian tax return.

Non-Italian insurance policies

  • Fiduciary Administration whereby the registration of the administered non-Italian real estate is retained in the name of the Client.
  • Channeling of outgoing and incoming financial flows connected to the insurance policies (e.g. partial or full surrenders, top-ups).
  • Where applicable and subject to the provision of funds, fulfillment of all tax obligations connected to the policies.
  • Exemption from the obligation for Italian tax residents to declare non-Italian insurance policies (and related inflows and outflows) in the ‘RW section’ and other related sections of the Italian tax return.

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