Alessandra Losito

+39 06 853 71 21

Alessandra Losito

Head of Pictet Wealth Management Italy  |  Pictet & Cie (Europe) SA
JURISDICTIONS QUALIFIED IN

Italy

RECOMMENDED SPECIALISMS

Private Banker


Beatrice Puoti

+441179022765

Beatrice Puoti

Partner  |  Burges Salmon
JURISDICTION

England and Wales
Italy

TOP 3 AREAS OF EXPERTISE

Cross Border administration of estates and trusts
Residency and domiciliation
International Tax and Trust advice

Enhanced Q&A

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

Our private wealth sector in the firm has gone from strength to strength and now comprises over 80 lawyers throughout the firm. It has been one of the busiest years, even though in the Pandemic, and the work has been interesting and challenging. I was delighted to win Lawyer of the year, for myself and the team, as I would not be achieving without them.

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

Do this job if you love the technical challenges every day, and people. It is a demanding, fulfilling job, but clients will want 100% all the time, and the complexity of what we do means that you are always under pressure. Get to know your competitors.

What is your favourite quote?

“Success is never final and failure is never fatal. It is courage that counts." Winston Churchill.

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

- In the past year many clients all over the world, who have been locked down during the pandemic, have wanted to make sure that their affairs are in order and therefore there has been a lot of cross border estates planning, drafting of wills and powers of attorney. Also there has been a lot of work aimed at structuring for the next generation. - People have also been misplaced by the pandemic, therefore there has been an increased need of tax residence advice for individuals and companies. - Litigation relating to trusts and estate has also been very active. - Immigration and tax consequences of moving in and out of the UK has also increased

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

I think the above trends will continue on to the next year. Also, as the tax policies to pay for the pandemic will become clear in the UK and abroad, I believe there will be a lot of work in dealing with clients’ affairs because of it.

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

- The Continuing Pandemic, and our inability to meet clients and colleagues and to travel is a challenge for Business Development of all.
- Uncertainty can create work for us, but can also cause actions to be “suspended” until there is more clarity and this could happen if the pandemic continues.
- There is uncertainty as to how the job market will evolve in the medium term and this creates uncertainty as to the available talent pool for the purposes of recruiting.


Alessandro Bavila

+3902776931

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.


Raul-Angelo Papotti

+3902721571

Raul-Angelo Papotti

Partner  |  Chiomenti
JURISDICTION

Italy

TOP 3 AREAS OF EXPERTISE

Succession planning
International tax
Planning trusts

Enhanced Q&A

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

Tax planning for a number of foreign trusts Trust and succession litigations.

How did you get into private client?

Curiosity...

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

Study, study and study. Be curious about everything. Talk with people and listen to what they are saying. You always have something to learn. And when you learn something everyday, in 20 years time you won’t be a rising star anymore, but the sun.

What is your favourite quote?

I have two or three I think of on many occasions:
“When you pray for the rain, you have to deal with the mud too.”
“Do not forget those who helped you on the way up.”
“What I need does not cost any money.”

Do you have any outside interests or hobbies?

Golf and art.

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

Ristorante Bellavista in Surlej.

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

Lots of work I handled related to foreign trust with Italian beneficiaries as well as the Italian resident non dom regime. A substantial part of my work related to dispute resolution matters in trust structures, in civil or tax litigations.

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

Audits and dispute resolution. Also, the Italian resident non dom regime seems to maintain string appeal. The next 12 months will be about keeping up with the changes we see in the world. Quick adaptability is definitely one of the most salient aspects in this pandemic environment.

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

Sport law (soccer – formula one – etc,) and immigration law.


Nicola Saccardo

+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.


Marco Cerrato

+3902776931

Marco Cerrato

Partner  |  Maisto e Associati
JURISDICTION

Italy

TOP 3 AREAS OF EXPERTISE

Personal and estate planning
Dispute Resolution
Tax

Enhanced Q&A

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

● Assisting a Swiss based private bank on a ruling procedure with the Italian tax authorities aimed at eliminating reporting obligations of Italian based clients in case of assets held abroad
● Review and set up of trust structures in light of CRS
● Advising a wealthy family on the set up of a Luxembourg regulated fond d’investissement alternatif réservé (RAIF) as a tax efficient vehicle to invest a complex portfolio
● Tax advice in connection to art and collectors
● Multi-jurisdictional voluntary disclosure procedures
● Advising individual clients moving to Italy under the recently introduced Italian res non-dom regime
● Review of global estate planning of an international family

How did you get into private client?

I started dealing with private clients at the very beginning of my professional career when I was involved in the defence of a wealthy family, with disputed assets across a number of vehicles outside of Italy, such as foundations, trusts and holding companies.

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

Always find the right balance between a personal and professional relationship with your private clients.

What is your favourite quote?

“Learning never exhausts the mind." Leonardo Da Vinci.

Do you have any outside interests or hobbies?

Slalom skiing and spear fishing. I can fish 30 metres underwater without a tank!

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

Da Giacomo’s and Langosteria in Milan – great fish restaurants.

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

We have been increasingly involved in the set-up and re-structuring of family offices, especially by clients who moved to Italy under the res non dom forfeit regime.

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

I think there will be an increasing attitude of tax authorities in challenging trusts and holding structures as a consequence of exchange of information arising from DAC6 and CRS as well as due to the lack of tax revenues deriving from Covid-19.

What are three top tips for dealing with your clients remotely?

Be always available, organize regular meetings via video-conference, provide clients with alerts and informative material in order to keep them updated on the most recent legal and tax developments.


Giovanni Cristofaro

+39 06 46622 708

Giovanni Cristofaro

Partner, Head of the Wealth Management Business Unit  |  Chiomenti
JURISDICTION

Italy

TOP 3 AREAS OF EXPERTISE

Succession law, planning and structuring
Complex cross border wills
Use of all civil law tools for estate planning (insurance, fiduciary agreements, collection of artwork planning)

Enhanced Q&A

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

I recently assisted banking trustees for the start-up and liquidation of trustee activities in Italy, as well as the study and structuring of new products. I have also assisted private clients in investing part of their liquidity for luxury hotel investment in Italy and helped the creation of two charitable foundations (one for COVID-19 support and the other for financial support of research, design and implementation of maintenance and restoration of vintage cars, in Italy and US).

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

Be curious. Do not celebrate your successes too much... Keep in mind that the private client world requires time, patience, sensitivity, good sense, reasonableness, reliability and transparency.

What is your favourite quote?

“Simplicity is the greatest sophistication." Leonardo da Vinci.

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

I have seen private clients supporting and investing in family special companies much more, operating in new sectors (such as healthcare) as well as in traditional activities (such as food), all distinguished by a strong and modern connection with the country, tradition and uniqueness.

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

I expect growth in the third sector, especially. Private clients are already using amazing ideas and applied personal assets in supporting talented young people, arts, culture, and sustainable development.

What advice would you give to your younger self?

I would tell him not to try to imagine how the future will be as much. 2020 has shown us that many things can change suddenly from one day to the next. Instead we should always be ready for the future, and therefore keep our mind trained, look at what happens with curiosity, and always innovate and improve so that we have the right personal and professional tools to face the changes.


Andrea Moja

+39 0276007741

Andrea Moja

Partner  |  SLC Europe
JURISDICTIONS QUALIFIED IN

Italy

TOP AREAS OF EXPERTISE

I have over 25 years’ experience in trust and corporate law, successions and wealth planning, tax,
international cross-border transactions and major international arbitration.

Q&A

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

Trust and International Arbitration.

How did you get into private client?

I got into private client through private banks, family offices and others advisors(accountants, Law
firms etc.)

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

To go as far as they can see and further as well as never stop learning.

What is your favourite quote?

“Push yourself, because no one else is going to do it for you.”

Do you have any outside interests or hobbies?

Travelling, scuba diving, skiing and reading.

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

Sushi restaurants.


Gabriele Colombaioni

+44 (0)207 374 0299

Gabriele Colombaioni

Associate  |  Maisto e Associati
JURISDICTIONS QUALIFIED IN

Italy

TOP AREAS OF EXPERTISE

Pre and post immigration planning for HNWIs
Taxation of trusts
Estate tax planning

Q&A

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

· Advising on a private equity investment of a HNWI resident in Italy under the Italian forfeit tax regime
· Assisting a trustee in relation to the collapsing of a trust structure with Italian assets and Italian resident beneficiaries
· Advising a trustee on the consequences stemming from the transfer to Italy under the Italian forfait tax regime of a trust beneficiary

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

Living in a global world means that your clients will expect you to be aware of global developments that may affect them. Build a reliable international network with whom you can work seamlessly as it will be extremely valuable for your clients.

What is your favourite quote?

“It always seems impossible until it’s done”


Alberto Brazzalotto

+39 02 776931

Alberto Brazzalotto

Associate  |  Maisto e Associati
JURISDICTIONS QUALIFIED IN

Italy

TOP AREAS OF EXPERTISE

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

Q&A

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

Advising high-net worth clients moving to Italy under the new Italian forfeit tax regime.
Working for a multi-jurisdictional family to set up a new succession structure.
Assisting an Italian entrepreneur on the tax optimisation of estate planning and changes of ownership structures.

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

Provide your clients with thorough and up-to-date advice in a straightforward and user-friendly manner, easy to understand. Clients assume you know the law – they look for an adviser who can explain it and provide solutions to their needs.

What is your favourite quote?

“Rule your mind or it will rule you.”