Alessandro Bavila

Partner  |  Maisto e Associati
JURISDICTION

Italy

TOP 3 AREAS OF EXPERTISE

Italian and cross-border taxation of HNWIs
Trusts and estates
Personal and estate planning

Enhanced Q&A

What has been the highlight of your practice over the past 12 months?

Over the last year, my practice has been focused on advising high-net worth individuals on a number of mandates, including advising on family trusts, the transfer of residency to Italy under the recent new flat tax regime applicable to new Italian residents and on estate planning for foreign citizens.

What advice would you give rising stars/new lawyers in the private client world?

Challenge yourself, understand clients’ expectations, do not forget to network with your peers.

What is your favourite quote?

“In all things success depends on previous preparation, and without such previous preparation there is sure to be failure." Confucius.

When the restaurants reopen, where would you like to go?

Ceresio 7, Milano.

Where have you seen growth in your practice over the last year?

The covid pandemic has pushed many people, especially elderly, to consider making arrangements for estate and generational planning. Also, the implications of cross border smart working with tax residence issue has been a significant area activity.

What is the main area of growth you predict for the next 12 months?

I expect an even larger interest by individuals in taking up residence to Italy as a consequence of Brexit. Indeed, the new favorable tax regimes for individuals introduced in Italy a few years ago are attracting a large number of people who were before considering London as main destination. This applies both to those benefiting of the forfeit regime providing for a flat taxation of foreign income, but also to those highly specialised individuals who can benefit of a reduced taxation of employment income (this is coupled by the choice of certain companies, especially in the financial sector to strengthen local branches, including Milan, as a consequence of London losing its role of European hub due to Brexit).

Can you identify any new areas you have developed within your practice to further benefit your clients?

Though being a tax law firm, we have further developed expertise in non tax field for private clients. These include international succession and matrimonial issues and immigration aspects.