Author Archives: Gianfranco Puopolo

First Decision of An Italian Court on the Freezing of Russian Oligarchs Assets

Italy is fighting a legal battle over the assets of Russian oligarchs, and some of them are responding by appealing to the Lazio Regional Administrative Court. Indeed, behind the war in Ukraine there are legal disputes related to sanctions decided by the European Union against Russia and its oligarchs. In Italy, 28 of them are […]

A Guide to Buying a Property in Italy

CONTENTS INTRODUCTION PRELIMINARY STEPS STAGE 1: IRREVOCABLE PURCHASE OFFER STAGE 2: PRELIMINARY CONTRACT STAGE 3: DEED OF SALE AND PURCHASE TAXATION CONCLUSIONS   1. INTRODUCTION Italy is widely recognised for its abundance of cultural beauty and its remarkable geographical diversity, with which comes a rich and dynamic property market. The Italy Luxury Real Estate Market […]

Anti-Money Laundering in the Yachting Sector

Anti-Money Laundering in the Yachting Sector

Introduction  The continuing evolution of technology over the past decades has brought about momentous changes in every area of life. From the economy, to culture, to personal relationships everything seems to have been absorbed by it, and crime is no exception to this change, indeed it evolves by adapting. In fact, criminal infiltration emerges in […]

Italian Parliament Is Making Progress To Save The Yachting Industry

The Italian Finance and Industry Commission at the Senate has expressed a favorable opinion to an important amendment to the “Law Decree Ucraina”,  which will allow extra -Schengen seafarers to remain embarked onboard yachts and ships for more than 90 days. The problem of the 90 days time – limit (the so-called 90/180 days rule) […]

Important Developments on the Duration of Stay of Seafarers on Board Long-Term Moored Ships

Ships are often moored for a long – term in ports or shipyards, while seafarers are regularly on-board to carry out their tasks. Up to 2020, extra-Schengen seafarers were regularly signed on with long-term moored ships where they could remain for the entire duration of their employment agreement. Indeed, a common practice all over Europe […]

Italian Revenue Agency Clarifies Customs and VAT Fulfillments Post-Brexit for Pleasure Yachts

The Italian Revenue Agency – Agenzia delle Entrate (“AE”) was recently asked to clarify the customs and VAT obligations to be fulfilled by a British-flagged yacht sailing in Italian territorial waters after the United Kingdom became a non-EU state on 1 January 2021 following the so-called Brexit. In its “Risposta” No 26 of 2022, the […]

Superyacht’s Confiscation for Disproportionality and the Relevant Decision of the Italian Court of Cassation

On January 8, 2021, the luxury yacht “Blanca” of fifty meters length, flying the British flag, built-in 2008 by Baglietto Shipyard, was confiscated by the Italian Financial Police (Guardia di Finanza) off the coast of Genoa, Italy. The owner of the yacht, a well-known Italian entrepreneur and owner of a concrete manufacturing company and of […]

No Exemption From Payment Of Excise Duty On Fuel For Yacht Charter

On 16 September 2021, the Court of Justice of the European Union has decided on case no. C-341/20. With this, the EU Court has stated the infringement of Article 14, paragraph 1, letter c) of the Directive no. 2003/96/EC restructuring the Community framework for the taxation of energy products and electricity by the Italian State. […]