- Posted by Massimo Mellaro
Which are the incorporation steps in Italy?
Company incorporation, of a new company, a branch of a company or a subsidiary from a foreign country, is becoming more and more frequent thanks to technological advances and business reasons.
The foreign company incorporation process is not always straightforward, as different countries have different corporate rules which are connected to the country’s jurisdiction.
If you intend to incorporate a limited liability company aka an s.r.l. company in Italy, because of its strategic geographical position which will grant investors access to central and northern European markets as well as parts of the Mediterranean, it is advisable to be aware of a few important steps.
Check national laws to understand if your business is eligible to obtain Italian governmental incentives for specific companies dealing in selected business or operating in selected parts of Italy.
Before starting company incorporation, you will necessarily have to ask for and obtain an Italian tax code aka Codice Fiscale, which is mandatory.
Italian company incorporation requires the presence of an Italian Notary Public to deal with the actual incorporation itself. The Notary Public will have to be provided with: company name, company scope, company’s registered office or operational headquarters, company’s Memorandum and Articles of Association, name of company shareholder/s and director/s. After the actual incorporation process before the Notary Public, the company will actually come into existence after it has been registered with the competent Companies House. Approximate timing for this activity is 7 working days. Following this last step the new company can start operating.
Do not forget to ensure you open at least one bank account in the company’s name, the minimum required share capital must be deposited on this account.
Notary Public fees can vary, so it is always best to ask for a specific written quote which should be comprehensive of fees, costs, stamp duties and taxes which will also include VAT 22%, IRES (National tax) 24.50% and IRAP (regional tax) 4.82%.
If you are looking for more information or advice on Company Law or would like assistance for Company Incorporation, drafting of the Memorandum and Articles of Association, contact one of our lawyers, by filling out the form below