Italy is the third-largest economy in the euro-zone and has recently taken new steps to position itself as a welcoming home for foreign investment. With a GDP per capita of $30,100 (2011 estimate), Italy is slowly emerging as a land of opportunity. Let CompanyRegistrationsWorldwide.com assist you in the process of setting up a company in Italy today.
There are three major types of Italian company registration for foreign investors:
- Limited Liability Company (SrL)
- Joint Stock Company (SpA)
Setting up a SrL – what does it involve?
- It is the most popular format for small to medium businesses.
- The minimum share capital is €10,000 for 1 shareholder, €2,500 for 2 or more shareholders.
- There are no restrictions on foreign shareholders.
- Audited accounts to be filed annually.
- Codice – fiscale is required for each director. This must be applied for.
- If the company has more than 2 directors the bank will require a board of resolution .
It is best to have a minimum of two directors for a SrL. It is possible to set up a SrL with just one director, but in such cases the company has to have words ‘Società Uninominale’ in its title, otherwise liability is unlimited.
Setting up a SpA Joint Stock Company – what are the main features?
- It is the main format for medium to large companies
- The minimum share capital is €120,000
- The minimum number of directors is one
- There are no restrictions on foreign shareholders
- Audited accounts to be filed with the Registrar of Companies
Setting up a branch – what does it involve?
- Foreign parent responsible for all liabilities of Italian branch
- A minimum of one director required
- Accounts to be maintained but no reporting requirements
Starting a business in Italy – is it complicated?
Starting a business in Italy can be more complicated than some other European countries, but like anything else, it is a matter of mastering the procedure. The whole process takes approximately 4 weeks. In Italy there is no certificate of incorporation. A Certificate of Good Standing is released by the chamber of commerce the week after incorporation. CompanyRegistrationsWorldwide.com are experienced experts in this field. Incorporating a company in Italy usually requires the following:
- A registered address in Italy.
- An Italian tax code and identity document.
- A local bank account.
- Codice fiscale for each director.
- Register for VAT.
- File with the Registrar of Companies.
- Secure approval by a local tribunal.
Can I get an Italian VAT number?
CompanyRegistrationsWorldwide.com can assist you with getting your new Italian company VAT registered. CompanyRegistrationsWorldwide.com work with fiscal advisers based in Milan, Italy. In order to obtain an Italian VAT number, you may have to have trading activity in Italy or have human and technical resources in Italy. CompanyRegistrationsWorldwide.com can help with this. We can act as secretary and supply a registered address.
Contact us today to see how we can help.
Banking in Italy:
Banking in Italy is relatively easy and straightforward.
In order to open a corporate bank account for your Italian company, a face to face meeting with the bank may be required although may not be necessary. We work with major Italian banks. Some of the corporate account features include:
- Internet banking/remote access
- Multiple currency accounts
- Debit/credit cards
- Low transaction fees
Speak with us today to see how we can open an Italian bank account for your Italian company.
CompanyRegistrationsWorldwide.com can assist you in setting up a company in Italy, as well as a whole range of professional services which include:
- Registered/virtual office services in Italy
- Italian bank account introduction
- Accounting/payroll services in Italy
- Licencing requirements in Italy
- Warehouse/premises identification in Italy
CompanyRegistrationsWorldwide.com minimise the paperwork, allowing for an efficient and professional company formation process.