In the Official Gazette n.
In the Official Gazette n. 58 of 06.07.2020 was published the Law of amendment and integration of Law 129/2019 for the prevention and fight against money laundering and terrorist financing, bringing a beneficial change to societies.
Article 56 of the Act was then supplemented by two new alienated persons, when they are exempted from the obligation to submit the declaration:
- Autonomous associations, national companies and societies and State or majority companies
- Legal persons consisting exclusively of natural persons affiliated, where they are the sole beneficial owner.
In the case of the persons exempted and listed above, it is the business register that automatically compiles the register of beneficial owners, on the basis of the documents submitted by the companies at the time of their establishment or of the various amendments to the articles of association or the articles of association.
Other companies, which are not part of the exceptions listed, for example, companies with other companies as members in their structure are required to submit a declaration of effective ownership within 12 months of the entry into force of the law and 15 days after any change in the membership structure, which would implicitly change the beneficial owner or his identity in a company.
More information on the provisions of this law can be found here