How to set up a trust company? The activity of trust administration consists of the registration, on behalf of the trust company, of the (formal and non-substantial) ownership of shareholdings, shares or bonds, assets or values of any kind.
The transferor, the Fiduciante, issues a fiduciary mandate, which outlines the powers and limits conferred on the Trust Company. The substantial ownership of the assets always remains of the Fiduciante. The Fiduciante can thus carry out any operation with third parties without acting in its own name, in total anonymity and enjoying maximum privacy and confidentiality. Legal investments in a non-public way are therefore fully guaranteed.
The fiduciary mandate is a legal instrument on the basis of which a subject (the trustor) transfers a right or one or more assets to another subject (the trustee), who has the task of administering it in a professional, transparent and confidential manner. The ownership of the asset will always remain with the principal, who must provide the trust company, in writing, with all the necessary instructions, information, and documentation concerning the asset or assets to be managed.
In this way, ownership is established (that of the trustee), which is circumscribed within the framework of relations between the obligatory parties (pactum fiduciae) and with the obligation to transfer back. In essence, the trustee transfers to the trustee one or more assets so that he can administer them and manage them according to directives, even temporal, precise and previously established. In the case of a fiduciary mandate, we can talk about trust property with limited content in time and powers.
The fiduciary mandate can be conferred by both individuals and companies and can be conferred by one or more subjects at the same time with equal and/or different rights.
The incomes deriving from shareholdings registered to the trust companies are considered DIFFERENT INCOME and the tax regime of the “Administered Savings” and of the “Managed Savings” referred to in art. 6 of Legislative Decree 21.11.1997 n. 461.
The CSASpA carries out STATIC activity since it is involved in and manages the assets of the trustees without any autonomous decision-making power, as it will have to limit itself to executing the instructions of the principals on a case-by-case basis. Failing this, it is obliged to refrain from engaging in any decision relating to assets that are trustworthy in name and/or administered.