Because the true owners of the trusts will no longer be able to hide
Anti-money laundering: beneficial owner, digital signature is essential for self-declaration. Vademecum of the chambers of commerce
From now on, a digital signature will be essential for self-declaration.
The provision of the Ministry of Business and Made in Italy was published yesterday in the Official Journal which certifies the operation of the Beneficial Owner's communication systems, as established by the inter-ministerial decree of 11 March 2022 n. 55.
Therefore, within 60 days from the date of publication of the provision, the interested parties – companies with legal personality, private legal entities, trusts and similar institutions – must send the communication to the Company Register of the Chamber of Commerce competent for the territory.
All the details on the process for communicating information on the Beneficial Owner to the Chambers of Commerce Business Register.
THE TELEMATIC ARCHITECTURE CREATED BY UNIONCAMERE AND INFOCAMERE
First of all, to allow compliance, Unioncamere – with the support of InfoCamere , the Chamber of Commerce company for digital innovation – has created the telematic architecture necessary to receive the necessary communications and, subsequently, allow access and consultation of information to authorized parties.
THE HANDBOOK OF THE CHAMBERS OF COMMERCE
Furthermore, to facilitate the correct compilation of applications, the Chamber system has prepared an operational manual available through the institutional portal https://www.unioncamere.gov.it/ . All information relating to compliance is also available on the portal https://titolareaffetivo.registroimprese.it . Again to facilitate compliance, the Chambers of Commerce – with the support of Unioncamere and InfoCamere – have organized the holding of a series of webinars, accessible from the websites of each Chamber.
WHAT THE ANTI-MONEY LAUNDERING LEGISLATION PROVIDES
According to Legislative Decree no. 90 of 25 May 2017 – issued in implementation of EU Directive 2015/849 and part of the anti-money laundering legislation – the Beneficial Owner is the natural person who carries out an operation or activity or, in the case of a legal entity, who as a natural person owns or controls or is a beneficiary thereof.
Therefore, the certain identification of this figure constitutes a crucial element in guaranteeing the transparency of business activities: in fact, money laundering by front companies is frequent which, by hiding their true owner, makes it difficult to identify the beneficiary of the proceeds deriving from illicit activities.
THE SUBJECTS OBLIGATED TO MAKE THE DECLARATION
The following will be obliged to make the declaration: companies with legal personality (limited liability companies, joint-stock companies, limited partnerships by shares and cooperative companies); Private Legal Persons: foundations, associations and other institutions of a private nature which acquire legal personality through registration in the register of legal persons, established at the Prefectures and at the Regions and autonomous Provinces; Trusts and similar legal institutions: bodies and institutions which, due to their structure and functions, determine legal effects equivalent to those of trusts (legal relationship in which a person – trustee – administers assets, over which he has control, in the interest of third party beneficiaries ).
HOW ELECTRONIC COMMUNICATION WORKS
The communication must take place exclusively electronically to the Chamber of Commerce competent for the territory (also with the support of intermediaries authorized to send) with a digitally signed request (depending on the case): to at least one administrator of the company; by the founder or by the subjects with the representation and administration of private legal entities and by the trustee, in the case of Trusts.
New registrations or any changes in data must be communicated within 30 days from the date of the deed of incorporation or change and, in any case, the data provided must be confirmed annually.
Concurrently with the opening of the deadlines for electronic communication, the companies involved in the fulfillment will receive a message from their Chamber of Commerce in their PEC inbox containing the operational information necessary to facilitate the sending of the application.
DIGITAL SIGNATURE REQUIRED FOR ELECTRONIC SENDING
To facilitate compliance with the obligation in a simple, safe and fast way, the chamber of commerce system makes available to interested parties " InfoCamere ID ": the Digital Signature guaranteed by the Chambers of Commerce equipped with a CNS (National Service Card). To obtain it, an online procedure is available, either by identifying yourself independently through SPID or by booking a video recognition with an operator. Furthermore, it is always possible to contact the offices of your Chamber of Commerce.
CONSULTATION OF THE BENEFICIAL OWNER'S REGISTER
Finally, once registered in the two sections specifically created in the Company Register (one defined as "autonomous", containing data on companies and PGPs, the other "special" dedicated to trusts and similar institutions), the information on the Beneficial Owner will be available for consultation. according to different methods and scope by the subjects identified by the legislation, i.e.: Authorities (Ministry of Economy and Finance, Sector Supervisory Authority, FIU, Anti-Mafia Investigation Directorate, Financial Police, Special Currency Police Unit, National Anti-Mafia and Anti-Terrorism Directorate, Authority judicial, authorities responsible for combating tax evasion); obliged entities to support the obligations prescribed during the due diligence, (for example banking and insurance institutions, professionals, etc.) subject to accreditation with the competent Chamber of Commerce and other private entities for which knowledge of beneficial ownership is necessary to take care of or defend an interest corresponding to a legally protected situation.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/ecco-come-i-veri-titolari-delle-fiduciarie-non-potranno-piu-occultarsi/ on Tue, 10 Oct 2023 08:52:12 +0000.