The prudential framework established under Solvency II is based on an integrated system of capital requirements, governance rules, risk management requirements and disclosure obligations to supervisory authorities and the market. In response to developments in the insurance market, the European institutions adopted Directive (EU) 2025/2, amending Directive 2009/138/EC. The revision of the Solvency II framework […]
With Legislative Decree No. 160 of 9 September 2026, published in Official Gazette No. 214 of 15 September 2026 and entering into force on 30 September 2026, the Italian legislature has taken steps to align the national legal framework with Regulation (EU) 2024/1689 (the “AI Act“), introducing, among other measures, specific provisions on civil and […]
Every private aircraft represents a significant investment and a demanding operational tool. Those who own or fly one cannot afford imprecise decisions — on maintenance, routing, or regulatory compliance — and have no margin for inaccurate or late information. This is precisely where artificial intelligence is beginning to make a difference: not as a technology […]
Italy has taken an important step towards opening its charter market to certain non-EU superyachts. With Circular No. 11/2026 of 15 May 2026, the Italian Customs and Monopolies Agency (ADM) clarified how the temporary admission regime may apply when a yacht moves between private and commercial use. The development is particularly relevant to yachts operating […]
Italy has introduced a new requirement for certain foreign-flagged recreational craft. Although limited to units up to 24 metres, the measure is also relevant to the wider superyacht sector, including owners, managers, brokers and shipyards. The new rule Article 26-ter of the Italian Recreational Craft Code, in force since 10 May 2026, applies to foreign-flagged […]
Recent decisions by the Court of Florence concerning The Italian Sea Group (“TISG”) offer important guidance on ownership, contractual remedies, and bank guarantees when a yacht builder enters restructuring proceedings. June 2026: protection lifted for five owners TISG entered Italy’s negotiated crisis settlement procedure (composizione negoziata della crisi) on 16 March 2026. Its application for […]
High net worth individuals considering a move to Italy under a preferential tax regime who own a pleasure yacht abroad will often face a straightforward but consequential question: is VAT payable on bringing the vessel into Italy? The Italian Revenue Agency (Agenzia delle Entrate, hereinafter “AdE”) has addressed this question in Ruling No. 105/2026. The […]
With the recent publication of Circular No. 11/2026, the Italian Customs and Monopolies Agency (ADM) has issued important guidance on the application of the Temporary Admission (T.A.) customs procedure to pleasure craft, covering both private and commercial use. This administrative measure provides greater clarity on the stages of entry into the procedure, discharge of the […]
Business aviation is an international and highly flexible sector. Aircraft may be owned, managed, leased, chartered and operated by different entities, often across several jurisdictions. This flexibility is commercially valuable, but it also creates legal and insurance risks that must be carefully managed. The first question is usually: who is legally responsible for the flight? […]
In the field of contemporary design, and especially in yacht design, renderings play a key role in the representation and enhancement of projects. By “rendering” is meant that process which makes it possible to create a digital output, in the form of an image or animation, through the use of specialized software and on the basis […]
