The New Italian Investment Management Exemption

The Italian budget law 2023 has introduced the so-called ‘Investment Management Exemption’ in order to give certainty to Investment Fund Management practices, with a particular focus to remove the risk for a permanent establishment in Italy for a non-Italian resident fund.

With this provision, the Italian Legislator aims to boost Italy’s attractiveness to foreign investors by offering a ‘safe harbour’ for the asset managers operating in Italy.

Our Italian desk in London and our Milan office will be happy to follow up and support interested parties.