Registration in the Special Section is subject to the fulfillment of the following requirements established by Article 3 of Decree no. 256/2012:

 

• for natural persons: Italian citizenship or citizenship of an European Union Member Country or non-EU State as per Article 2 of the consolidated text of the law on immigration and provisions governing the status of foreigners, pursuant to Italy’s Legislative Decree no. 286 dated 25 July 1998; and, domicile in the Italian Republic;
• for entities other than natural persons: Legal and administrative office or, for EU entities, permanent establishment in the territory of the Italian Republic;
• good repute (onorabilità) requirements imposed by Article 15 of Italy’s Legislative Decree no. 141/2010;
• successful attendance of a vocational training course delivered by the principal intermediary relating to payment services and, in particular, to customer protection and anti-money laundering (Article 4 of Italy’s Decree n. 256/2012). For the training and professional refresher courses, please refer to OAM Circular no. 12/13;
• possession of a certified e-mail box and digital signature with the same legal effect as handwritten signatures pursuant to Italy’s Legislative Decree n. 82 dated 7 March 2005, and its implementing regulations;
• for entities other than natural persons, the requirements apply to those who perform administrative, management and control functions and, limited to the good repute requirement (onorabilità), also to those who have control of the company.

Furthermore, the validity of registration is not subject to the stipulation of a liability insurance policy against damage arising in the performance of activities, deriving from own or third party’s conduct and for whose actions the Agent is liable under law.