TRUST and Fiduciary Services
To improve our offered services, since 1974 a trustee and auditing company named Ge.Co. – Gestione e Controllo S.r.l., was set up at our premises. It was officially licensed by a decree of the Italian Ministry for Industry, Trade and Crafts on 11 June 1975.
Its corporate objects include the exercise of trustee and auditing functions in the broadest sense and, specifically, the functions provided for by Law no. 1966 of 23 November 1939 and the related implementing regulations enacted by Royal Decree no. 531 of 22 April 1940. As a result, its activities include: management of movable and immovable assets on behalf of third parties; representation of shareholders, debenture holders and interest holders in general; registration in the trustee’s name of securities and instruments of any kind; acceptance of fiduciary and trustee tasks of any type; organisation and auditing of accounting, administrative and financial functions in corporations, enterprises or businesses of any type; and certification of financial accounts for any statutory or taxation purposes.
With Italy’s ratification of the Hague Convention of 1 July 1985, and its enforcement on 1 Jan. 1992 (when Law no. 364 of 16 October 1989 came into force), the concept of trust was ultimately recognised in the Italian legal system and, as a result, trusts can now be established and validly operate in Italy as well, even if they are not based on national laws, with all of their implied advantages.
Following the foregoing reform, the trustee company has since 2001 added the following activity to its corporate objects: “acceptance of asset-management assignments as a trustee pursuant to Law no. 364 of 16 October 1989 and acceptance of assignments as a protector in trusts established in any form and for any purpose”.
The key drivers of this trustee company include its forty-year experience, its inclusion in the consolidation scope of an accounting firm (with the additional opportunity to use its highly qualified staff specialised in taxation, accounting, management and other related sectors), and its key professional qualities of confidentiality, reliability and seriousness. These drivers and its highly flexible and proven resources now enable Ge.Co. S.r.l. to fulfil a variety of tasks – e.g. property management, corporate-asset management, family-asset management, sales management, etc. – in the interest of its Customers and those of other partner accounting firms without overlooking the guiding principles of professional deontology and ethics.