+44 20 7374 0299

Nicola Saccardo

Partner  |  Maisto e Associati
JURISDICTION

Italy

TOP 3 AREAS OF EXPERTISE

Italian taxation of trusts
Transfer of residence to Italy
Estate planning and estate tax planning

Enhanced Q&A

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

• Advising on the new rules on Italian taxation of trusts
• Advising many clients moving to Italy under the lump sum tax regime
• From a personal perspective, every time clients express their gratitude for the work done

How did you get into private client?

I started as a lawyer specialising in tax. I enjoyed the technical issues surrounding private client, as well as the relationship that comes with advising private clients. There are a lot of links between tax and succession, family law and so on. I gradually switched to private client, keeping the focus on tax.

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

Never take any view for granted, always question the view of others.

What is your favourite quote?

“Failing to plan is planning to fail.”

Do you have any outside interests or hobbies?

I’m very sporty – I particularly enjoy tennis.

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

A Peruvian restaurant near my office – Coya City, London.

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

Over the last year, the activities related to the relocation of UHNWs to Italy, under either the Italian lump sum or the impatriate tax regime, have registered a large increase.

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

In my opinion, tax advice in relation to trusts, as well as estate and succession tax planning, will be the main areas of growth in the next 12 months. Recent administrative tax guidelines on trusts and the implementation of register of beneficial ownership of trusts has further increased the work in the trusts area. Estate and succession tax planning are pivotal to minimise the exposure to potential adverse tax changes that may be triggered by budget constraints.

What do you think will be the biggest three challenges in your practice for the next 12 months?

In order to further benefit our clients, with particular reference to those moving to Italy, we have developed expertise on the visa options for non-EU nationals, including significant expertise on the investor visa. This expertise has become relevant also to British clients due to Brexit.