Italy relies on a strong financial industry, as during the last several years Milan has become internationally recognized as the country’s financial center. Italy is also renowned for its anti-money laundering policies which has determined a great number of financial institutions from all over the world to set up branches and subsidiaries here. The number of companies registered in the Italian financial sector has also grown during the last few years.
Our Italian company formation consultants can offer full information on the legislation applicable in the financial sector.
The National Bank and the Financial Regulator (CONSOB) in Italy allow banks, insurance and reinsurance companies, as well as investment and trust companies to operate here. Moreover, several years back Italy renewed its Financial Market Law which is line with all EU directives related to operating in the financial sector.
Registering a financial company in Italy implies respecting the Company Law’s provisions and submitting the necessary paperwork with the Italian Companies Registrar. Our company registration agents in Italy can assist with the company incorporation process, including drafting the document required to set up the company.
Once a financial company is registered with the Italian Trade Register, it must pass through the authorization procedures of the National Bank and CONSOB which imply a stress test and a liquidity test where the company’s capital will be analyzed in order to verify if the company is in any danger of defaulting. In 2011, Italy introduced new measures for the verification of companies in the Italian financial sector.
In the case of financial companies operating in the investment funds segment, it is required for the owners to submit a prospectus with CONSOB before being allowed to operate.
For full information on the requirements to establish a company in the financial sector in Italy, you can rely on our company incorporation representatives. You can also contact us for assistance in registering an insurance or any other type of financial company with the Trade Register in Italy.