ClubDeal Digital Partners with Uptevia to Simplify the Management of Widespread Share Ownership Plans

ClubDeal Digital, in collaboration with Uptevia, launches a service dedicated to the tax management of Stock Options and Widespread Shareholding for employees of companies based abroad.

Encouraging widespread shareholding, allowing employees to become shareholders of the company they work for is an increasingly widespread practice at an international level.

According to the latest Annual Economic survey of employee share ownership in European Countries by the European Federation of Employee Share Ownership, in 2023, 90% of large European companies will have implemented employee share ownership plans.

Italy is a bit behind: only about 220,000 employees have joined widespread share ownership plans. However, several large foreign or international companies operating in Italy have launched corporate plans in this direction.

The partnership between ClubDeal Digital and Uptevia for the management of stock options and widespread shareholding

ClubDeal Digital, a wealth-tech platform for managing investments in private assets, has decided to enter this market segment and launch a new service dedicated to the tax management of Employee Stock Ownership Plans (ESOP) and Widespread Share Ownership Plans (PAD) for Italian employees of companies based abroad.

The service, provided through ClubDeal Fiduciaria, a digital fiduciary part of the ClubDeal Digital platform, is offered in collaboration with Uptevia, a French company born from the combination of the Corporate Trust Services activities of BNP Paribas and Caceis Bank.

The aim is to overcome bureaucratic barriers and simplify the tax management of share ownership plans, which represent the main limitations to the diffusion of these instruments in Italy.

Starting from January 2025, Italian employees of foreign companies who join their companies’ stock plans will have access to a fully digital and automated management of assignments, sales and dividend distribution, ensuring compliance with Italian regulations regarding capital gains, dividend taxation and stamp duty.

In the first three months of operation, over 12,000 Italian employees of important international companies, historical customers of Uptevia, are already using the service.

How the service launched by ClubDeal Digital and Uptevia works

The ClubDeal Digital solution, thanks to the close collaboration with Uptevia, provides digital and automated support at all stages.

It starts with the fast and scalable digital onboarding of employees thanks to identification via SPID/CIE or video call, to arrive at the qualified electronic signature and advanced trust management.

We then continue with the automation of tax management , which includes the automatic withholding of taxes on share sales, the payment of taxes on dividends and the management of stamp duty, in compliance with Italian legislation.

Finally, transparent and detailed reporting ensures total control over every transaction, with intuitive digital dashboards for companies and employees.

Comments from the protagonists

Antonio Chiarello, CEO of ClubDeal Digital said: “We are proud to collaborate with Uptevia and support high-profile companies, offering their employees a simple, fully digital and compliant service with Italian regulations. This new service fits perfectly into our growth strategy.”

Anthony Martin, Deputy CEO of Uptevia added: “Addressing the Italian tax complexity is a challenge for our clients who offer employee share ownership plans in Italy. We believe that our partnership with ClubDeal Digital will provide a high-value service to our clients and their Italian employee shareholders, helping them comply with local tax regulations.”

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(Featured image by Tima Miroshnichenko via Pexels)

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