From now on all those who intend to use the Trust as a legal instrument will have very important support on the choice of the Trustee and the guardian, consulting the newly established register.
On April 30, 2016, the Register of Trustees and Professional Guardians was officially established with an initiative sponsored by the Association ” The Trust in Italy “, news already disseminated by ANSA in an article published May 4, 2016. This fundamental initiative constitutes a fundamental milestone in the current national legal scene. In fact, the figure of the Trust was introduced in Italy with Law 364/89, which ratifies the Hague Convention, which in Article 2 defines the crucial role of the Trustee.
In Italy, there is currently no specific legislation for the institution of the Trust, which, therefore, refers to international regulations and conventions. In order to fill this gap, the Register of Trustees and Professional Guardians was created to respond to the need to make the office of the Trustee a real profession, to guarantee maximum specialization in the field and to regulate accreditation as a Trustee or Professional Guardians.
Basic requirements for registration, reserved for professionals who have demonstrated their professionalism, competence, and dedication within the Trust, are:
Conditions for accreditation in this Register are summarized in the following table:
|PHYSICAL PERSONS||LEGAL ENTITIES|
|Possess the requirements of HONORABILITYBeing a Trustee or Professional Guardian of at least three TrustsHave taken out an insurance policy against risksHave attended the special training course and have passed the examHave carried out the activity of Guardian Trustee for at least 3 years during the last 5||Registered office, administrative and secondary headquarters in the EU, with a representative resident in ItalyHave a social object that provides for the office of Trustee or Guardian or bothNot be participated by other companies, unless the members of the latter are disclosed.|
Registered persons must sign and comply with a Code of Conduct and will elect a Management Committee of three to five members every three years, which, in turn, will elect a Chairman from among its members.
The Register of Trustees and Professional Guardians had maximum disclosure among the various professional associations of notaries, lawyers and accountants, and the various courts, in order to help professionals in identifying the professionals to be used.
This is, in short, the process that led to the establishment of the Register of Trustees and Professional Guardians of which we are an active member and an integral part, any news or further update will be promptly announced on our website.