Ferrari is an Italian icon in every sense: history, production, identity and racing DNA are all deeply rooted in Maranello. Yet, from a corporate and legal standpoint, the Prancing Horse has been officially based in the Netherlands since 2015. A choice that often sparks debate among fans and observers, but one that has little to do with taxation and much more to do with long-term strategic protection.
Despite having its legal headquarters in Amsterdam, Ferrari continues to pay its taxes in Italy, where its operational heart remains firmly established. The move north was never designed as a fiscal shortcut. Instead, it was driven by corporate governance considerations linked to shareholder control and stability.
The key factor lies in Dutch corporate law, which allows the introduction of enhanced voting rights for long-term shareholders. This mechanism enables majority shareholders to hold a stronger voting position without needing to own an overwhelming percentage of the company’s shares. In simple terms, it acts as a powerful shield against hostile takeover attempts.
For a brand as exclusive and strategically valuable as Ferrari, this protection is critical. With a market capitalisation exceeding €62 billion, Ferrari is not just a car manufacturer but one of the crown jewels within the Exor portfolio. Preserving control over the company’s vision, identity and long-term direction is a priority for its main shareholders.
The Dutch voting structure ensures that stability, especially in a global market where luxury and high-performance brands can quickly become targets for aggressive acquisitions. It allows Ferrari to focus on product excellence, brand exclusivity and its Formula 1 programme without the constant pressure of external corporate threats.
However, the idea of Ferrari eventually bringing its legal headquarters back to Italy has not been completely ruled out. Such a scenario could become realistic if Italy were to introduce similar legal tools. The proposed new Capital Markets Bill (DDL Capitali) could be a turning point if it adopts a comparable system of enhanced voting rights.
If Italian legislation were to offer the same level of protection currently guaranteed by Dutch law, Ferrari would no longer need to look abroad for corporate safeguards. A return of the legal headquarters to Italy would then be a symbolic and strategic move, aligning the company’s legal identity even more closely with its historical and cultural roots.
Until that moment arrives, Ferrari’s presence in the Netherlands remains a calculated and defensive choice rather than a controversial one. It reflects how modern Formula 1 teams and automotive giants must balance tradition with corporate realities, ensuring that iconic brands remain independent, competitive and protected in an increasingly complex global landscape.
This corporate stability also has direct implications for Ferrari’s Formula 1 programme. A protected ownership structure allows the Scuderia to plan on a long-term horizon, from power unit development to infrastructure investments in Maranello. In an era of budget caps and major regulatory cycles, continuity at shareholder level helps ensure that sporting decisions are not influenced by short-term financial pressures, reinforcing Ferrari’s ability to compete consistently at the highest level of Formula 1.
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