REGISTRATION OF A BUSINESS (FIRM) IN ITALY

REGISTRATION OF A BUSINESS (FIRM) IN ITALY

Therefore, there are questions about how to do business in Italy? What is the price of opening a company in Milan, Rome, Naples? What is the best organizational and legal form of entrepreneurial activity?

How to do business in Italy? But what are the advantages of registering an LLC or FOP in Italy?

To carry out activities as a FOP or Individual entrepreneur (Impresa individuale) as it is called in Italy, you must have the following documents:

• Document confirming identity
• A document that establishes the compliance of the qualification and the activity that will be carried out by the individual entrepreneur.
• Get a type D business visa, a long-term visa that allows you to do business in Italy
• Issuance of a residence permit

Advantages of operating as an individual entrepreneur (Impresa individuale)

• The registration fee is -3,500, which is less than for the registration of an LLC or JSC
• Opportunity to work for hire
• Best suited for small businesses, as there is no requirement for authorized capital
• Quick and easy registration
• There is no need to develop constituent documents

Disadvantages of carrying out activities as an individual entrepreneur (Impresa individuale)

Liability is only for one’s property, therefore the risks of such activities are high. It is possible to carry out only those activities in the specialty for which there is an education.

Confirmation of qualification if it was obtained even in a country that is part of the European Union.

Due to the fact that it is possible to carry out only the activity for which the education was obtained, the list of areas of activity is rather narrow.

If you don’t want to do business as an individual entrepreneur, you can do business in other forms:

Limited Liability Company (SRL) – the minimum share capital is €10,000 if there is one member. There are no citizenship requirements. The director can be an EU citizen. Tax returns are submitted once a year, and VAT returns are submitted quarterly. The LLC is assigned a tax number and then entered into the Register of Enterprises. It is the most popular.

Joint Stock Company (SPA) – the minimum authorized capital is EUR 120,000. 25% must be paid first. Liability depends on the contribution to the authorized capital. Also, requirements are established regarding tax and accounting reporting. Accounting reports must be submitted to the Commercial Register. There must be at least 1 director. Investors can also be foreigners.

Partnership (SAS) is a small company with an annual turnover of no more than 2,000,000 euros. Investors can manage the company or not participate in such management.

What are the stages of company registration in Italy?

• Choosing an organizational and legal form (we recommend LLC)
• Selection of areas of activity
• Preparation of constituent documents
• Certification of the charter by a notary
• Obtaining the tax code of Italy
• Opening an account in a local bank
•  Registration as a value added tax payer
• Entry of the enterprise into the Register of Entrepreneurs
• Make a seal for an Italian company
• If hired employees will work, notify the labor office one day before such employees leave for work
• If it is necessary to obtain a permit, license, etc. for a company that will work on the territory of Italy

What is the cost of registering a company in Italy?

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