The Firm advises clients on structuring, acquiring and protecting real estate, industrial and financial assets worldwide. Every cross-border investment requires at least three bodies of law to be coordinated: the company and civil law of the destination country, the regulatory rules on foreign investment, and the international tax rules that apply to capital and income flows.
Regulatory risk. In Italy, acquisitions in strategic sectors (defence, energy, transport, communications, critical technologies, healthcare, agri-food, finance) may be subject to Golden Power screening under Decree-Law 21/2012, in coordination with EU Regulation 2019/452 on the screening of foreign direct investment. Checking early whether a notification is required shapes the timetable, the conditions precedent and the allocation of contractual risk.
Treaty protection. For outbound investment, the Firm checks whether bilateral investment treaties (BITs) and double tax treaties exist between Italy and the destination State, and assesses where to place the holding company in light of the protection available (fair and equitable treatment, protection against expropriation, access to ICSID or UNCITRAL arbitration).
Real estate. In property acquisitions, due diligence covers title, planning and cadastral compliance, landscape and heritage restrictions (Legislative Decree 42/2004, including any State pre-emption right), the choice between an asset deal and a share deal, and the use of dedicated investment vehicles.
Wealth planning. The Firm coordinates tools for ring-fencing and protecting assets (holding companies, trusts, family estate funds, purpose restrictions under art. 2645-ter of the Civil Code) with the tax and succession rules of the countries involved.
