Italy Company Formation
- The country with largest economies in the European Union.
- Italy is welcoming home for foreign investments.
- The shareholders of the proposed company shall come to Italy to execute the incorporation documents with an Italian public notary
- Time of Italian company formation takes 5-7 DAYS.
- Popular company type:
- S.R.L. – A LIMITED LIABILITY COMPANY
Tax Rates in Italy
Corporation Tax in Italy: is set at 24% and it is known as IRES
Income Tax in Italy: 23% to 43%
VAT Tax in Italy: 22%.
Region: Italy, country of south-central Europe, occupying a peninsula that juts deep into the Mediterranean Sea.
Currency: Euro (EUR)
Time Zone: GMT+2
Dial Code: +39
What we can do for your Company in Italy
- We do all paperwork on forming the company in Italy
- Formation is completely remote
- Can act as Secretary or Treasury
- Provide nominee Directors/Shareholders
- Assist with opening a bank account
- Registration for Taxes, VAT & EORI
- Develop a website for your business
- Create a logo of your brand
- Provide with full company administration services
- Arrange a mailing address for your business
- Arrange a virtual office for your company
- Telephone answering service
- Book keeping, audit & reporting
- Preparing and submitting VAT return
- Dealing with local authority
- Trademark registration
Italy Company Formation. Italy Limited Liability Company registration
Main Characteristics and the basic rules of Company registration in Italy
Limited Liability Company (Società a responsabilità limitata, SRL) is, of course, one of the most common forms of doing business in Italy. With rather high costs for its opening and a rather complicated form of reporting, SRL is characterized by good organizational flexibility and is one of the most attractive forms of doing business. SRL shareholders are personally liable only to the extent of the value of their contributions to the company.
Italian LLC (SRL) is one of the most common types of business entities in Italy in which economic activity is carried out in the form of an enterprise. Simply put, an SRL is a type of company that is organized with a single goal: to carry out economic activities for profit.
Italian SRL is suitable for medium and/or large businesses. In general, this type of company is suitable for tasks that require some initial investment that continues throughout the life of the company, for example, the organization of an SRL is justified for opening restaurants or small industries, etc.
Italian LLC -SRL is created as an association of business partners, individuals and legal entities who maintain constant business contacts and who are equally interested in the success of the company. Thus, SRLs are often family-owned companies or firms of businessmen who collaborate on a permanent basis. SRL, like any other capital company, can only be based on a complete accounting system.
There are two different types of LLCs(SRLs):
1) Traditional SRLs
2) Simplified SRLs.
Simplified LLC (SRLs)
Requirements and mandatory for opening SRLs in Italy:
- Authorized capital from 1 to 9999 euros;
- One or more shareholders (since 2013, there are no restrictions on the minimum age of the founders (the limit of 35 years has been eliminated));
- The authorized capital is approved and fully paid upon registration;
- LLC is registered in the register of companies of the Italian Chamber of Commerce and Industry
Traditional Type LLC (SRL)
The establishment of a traditional limited liability company is governed by Articles 2462 and 2483 of Chapter VII of the Civil Code.
Requirements and mandatory for opening traditional SRLs in Italy:
Registering an LLC in Italy is a rather complicated procedure.
- To open an LLC in Italy, you must have a minimum share capital of 10,000 euros. There is no upper limit on the amount of authorized capital, however, if the capital of the company is more than 120.000 euros, the founders of the SRL must appoint a board of auditors.
- In order to register an LLC in Italy, it is necessary to properly prepare the founding documents, namely the memorandum (memorandum of association, constituzione di SRL) and the articles of association (statuto di SRL). The SRL memorandum includes various administration rules, rights and obligations of shareholders, auditing of accounts, approval of the budget, etc.
- The documents must be prepared by a notary who will take care of entering the newly formed SRL in the register of companies of the Italian Chamber of Commerce – only after the registration of the SRL the company begins its legal existence.
- The authorized capital of an LLC may be less than 10,000 euros (simplified form of LLC, Srl semplificata, Dl 76/2013).
- For an LLC with a capital equal to or greater than 10,000 euros (traditional form of LLC, Srl tradizionale), Italian law requires that by the time the LLC is registered and the memorandum is signed, the founders of the company have deposited at least 25% of the amount of the authorized capital in a bank (the rest of the capital may be paid later). In the event that Srl is registered by foreigners, the authorized capital must be contributed in the amount of 100%.
- In the event that the authorized capital of the LLC does not exceed 10,000 euros, the amount must be paid in full at the time of registration.
Administration of both type of SRL in Italy can be managed by one manager or a board of directors.
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.