Understand the Jurisdictions Setup Requirement Before Proceed Your Company Registration in Italy
Italy is now one of the most important countries in the European Union economic block. Its unique geographic location makes access to markets in northern, central and southern Europe. Also, it has access to the ports in the Mediterranean Ocean quite easy. Consequently, there has been an influx of investors primarily who have interest in export and import businesses trooping into the country. Hence, increasing the number of investors going for company registration in Italy.
Italy is the home to some of the most luxurious and iconic brands in the world. This is a subtle indication that the country has a robust economy. It also has a higher buying power that is sufficient to sustain the existence of such brands. To a foreign investor, it means that if you choose your business right, and get the registration process right, then nothing will stop you from claiming a piece of the lucrative Italian market.
Open Foreign Investment Policy by the Government
It is a fact that there are certain business fields in Italy which are favoured than others. But it is also pleasing to note the government exercises an open policy to all the foreign investments. It means that irrespective of the industry you choose to join, you can expect fair treatment from the government.
Some of the industry where a bulk of foreigners love considering when thinking about company registration in Italy. It includes agriculture, the food industry, tourism, real estate, and manufacturing. This is not to imply that you may not be successful if you invest in other sectors such as IT. These are the sectors that have witnessed a lot of foreign interest.
It is also pleasing to note that the government of Italy usually give various incentives to foreign companies interested in investing a certain amount of money in the country, joining certain sectors or setting up their businesses in certain locations within the country.
The Types of Companies You Can Open in Italy
There are several types of legal entities that those interested in company registration in Italy may consider. Each entity comes with its own set of requirements, and it is vital that as a foreign investor, you understand precisely the kinds of obligations you will be required to meet while forming the company. Here is a brief look at some of the legal entities available in Italy:
- Limited liability company
- Joint-stock company
- General partnerships
- Limited partnerships
- Sole proprietorship
Most of the investors who desire to start small to medium scale businesses usually go for limited liability companies. It is the most popular form of business in the country. We can help you form if you wanted to use it as your main economic vehicle. A limited liability company in Italy is managed by a director or a board of directors, while its financial issues are managed by statutory auditors as well as its representative in charge of the finances.
For companies interested in running a large business, a joint-stock company is always the preferred legal entity to go for. The minimum share requirement for forming this legal entity is 50,000 euros, and at least a quarter of this minimums share capital must be available at the time of company registration in Italy. A director or a board of director is responsible for managing a joint-stock company, and the liability of the shareholders is limited to the amount of the share contributions they made to the share capital.
The Process of Company Registration in Italy
Our company registration executives in Italy all the assistance you need for a successful company formation. We have a team of experienced and competent business consultants, attorneys, accountants and tax experts. They will simplify the process of registering your business in Italy so that you can start operations as soon as possible.
The first step when considering company formation in Italy is to prepare and draft the necessary documents, and these will normally include:
- Articles of Association
- Specimen signatures of the directors
- And other documents
It will also be important to open a bank account for the company and deposit the required minimum share capital.
You should be advised that the business startup cost in Italy will vary greatly depending on the type of legal entity you are interested in, and the type of equipment you will need for successful operations. You will also be required to have a company accountant to ensure you are compliant with all the requirements for accountancy by the authorities.
Get in Touch With Us
At 3E Accounting, we have the right experts to help you throughout the company registration process. We will do the heavy lifting as you concentrate on other core issues you need to take care of to ensure that you launch a successful business in Italy. Talk to us today and learn the various ways through which our company registration in Italy services can be of help to you.