Establish a Company in Italy

Italian Legal Consultant in Florence – Tuscany, Italy

Establish a Company in Italy

Establish a Company (or a subsidiary) involves a complex set of factors that have to do with legal, social and
cultural resources, as well as industry standards and current legislation. Knowing the legal system of a foreign country is essential for starting up every business. Prospective investors wanting to start up a business in Italy may :

establish a representative office;
establish a branch office;
incorporate a company.

REPRESENTATIVE OFFICE Companies who intend to establish a representative office in Italy must act in accordance with some formalities at Company Registries. Also they must release:

corporate details of the representative office;
personal details of the individual accountable for the representative office.

It's important to know that if all the formalities are not respected, the individual accountable for the representative office is personally liable for the office’s obligations. BRANCH OFFICE Companies may also start up business in Italy by a branch office. Branch office is considered a permanent establishment subject to corporate income tax. Apart from other obligations and formalities, branch office is obliged to keep books and file VAT returns and the annual financing statement. COMPANIES Foreign companies looking to invest in Italy can choose a more stable organization incorporating a company. Usually to incorporate a company is necessary:

articles of association
notarial deed
registration with Registry of Commerce
(not always) publication in a legal gazzette.

The most common types of company are :

Società a responsabilità limitata (Srl) - It is a "Private Limited Company" : There is not a minimum of number of partners; it's also possible just one partner for a sole partner/owner. Minimum capital: Euro 10.000 totally subscribed and released up to 25% at the creation. Liability is limited to the amount contributed.

Società per azioni (SpA) - It is a "Public Limited Company" : There is not a minimum of number of shareholders; it's also possible one partner for a sole ownership. Minimum capital: Euro 120.000 totally subscribed and released up to 25% at the creation. Their responsablity is limited to the amount contributed. Money Laundering: As with many parts of European Countries, according to the anti money laundering law, clients are asked to provide information before concluding a transaction with an attorney. Apart from others, for foreign private individual investors information required are: private address information, passport copy.

For corporate clients: certificate of incorporation, information of management, information about shareholders.

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