Fiduciary registration and administration of assets - SIFIR

For over 30 years SIFIR deals with the services relating to the fiduciary registration agreement, assignments and administration of assets by carrying out the instructions of its clients.

This kind of services concern the administration of assets through fiduciary registration agreement. Namely, through an agreement governing the activities between and assignee and the fiduciary company some assets are administered in the name of the company but on behalf of the assignor. This is why this service is called “Fiduciary Registration”.

With such agreement the property right is not transferred from the assignor to the fiduciary company as assignee. Only the rights and powers relating to the property are transferred. The full ownership right, which stays in the hand of the assignor, is not transferred.

In this case, the fiduciary company has the right to exercise (directly in its name) the rights pertaining to the assignor. Therefore, there is a fictional separation between the formal ownership of the right (which remains with the assignor) and legitimacy to its exercise (which belongs instead to the fiduciary company).

The most interesting fiduciary registration agreement and assignment services include:

Contents

1 The most interesting fiduciary registration agreement and assignment services include:

Fiduciary registration agreement of movable and immovable property and/or of composite assets

Such activity comprehends the fiduciary registration and assignments of legacy, donations, legacies, foundations assets, the employee’s personal pension funds, and is carried out by the transfer made by the assignor to the assignee of the legitimate exercise of such rights.

The fiduciary registration and assignments of movable and immovable property and/or of composite assets is implemented through an agreement which does not imply any effect of ownership transfer and therefore is not subject to relevant event in terms of inheritance and gift tax.

Administration in the name of the fiduciary company

The administration of securities and shares in the name of the fiduciary company but on behalf of its assignor, allows specific protection of personal and property rights.

``Roman law`` type of fiduciary transaction

Through the “roman law” type of fiduciary transaction the assignor (in this case also settlor) transfers all its rights to property to the fiduciary company.

In such case the company will be the owner of the property right but will be constrained by the pactum fiduciae against assignor.

Setting up of pledges as collateral of securities and bonds

The constitution as pledge or as collateral in the name of the fiduciary company, but on behalf of the client, of bonds, rights, bank transaction records, and assets in general, as guaranty of banking and financial transactions.

Stakeholders representation

The representation of shareholders who propose, again, to express in one determined board meeting unanimous vote.

Assets protection

The representation and legal safeguarding/ protection of personal and asset rights of the shareholders and bondholders, and by virtue of individual or collective mandates, in accordance with the law on the appointment of the common attorney of such categories of stakeholders of rights of credit.

Carrying out assignments on behalf of third parties

The performance of specific assignments on behalf of companies and entities issuers for deposits of shares and bonds for the board meeting, for the payment of dividends and bonds, as well as any other available operation from the issuer for its own movable assets.

Fiduciary registration of works of art and representation for the purchase or sale of the same

Fiduciary registration of works of art and representation for the purchase or sale of the same.