Italy Implements Mandatory Reporting of Ultimate Beneficial Owners

Dec 11, 2023

The law that requires notification of the ultimate beneficial owner is now in force in Italy. According to this law, companies and other legal entities are required to identify and disclose information about the ultimate beneficial owner, which refers to the individual who directly or indirectly owns or controls the company.

Information about the ultimate beneficial owner must be kept in the register and made available to the relevant authorities.

The implementation of this law reflects Italy’s efforts to adhere to international standards of financial transparency and combat financial crime.

If you have a company in Italy, contact your Italian CPA to submit the required information.

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