Europe Emirates Group can help you start your business in Italy
Company formation in Italy allows for Srl type organisations. The process takes approximately two weeks.
Formation requirements are related to share capital and the percentage needed to be deposited in an Italian bank. If there is a sole shareholder, then share capital must be paid in full.
The applying company should provide a comprehensive description of business intent along with a business plan. This includes specifying the amount of sales they expect to make in the first years of business, the value of share capital divided between shareholders and the jurisdictions in which the company will operate.
The company also has to specify whether or not it will hire employees within Italy itself. Only one director, of any nationality but with an EU passport, is required for formation and they must obtain a fiscal number. Directors should provide their full names, address, date of birth and nationality upon presentation of photographic ID.
Only one shareholder is required to form the Srl but two are preferred as companies with a single shareholder have unlimited liability. The shareholder can be a corporation.
Any company that wants to form in Italy has to open a bank account, and some banks will not permit deposits that are not made in person. If the company is small enough, as defined by EU directives, it may be able to avoid auditing. Otherwise, annual filings are required for any audited accounts.
Registration must be filed with the Register of Enterprises within 30 days of official incorporation. The fiscal code provides the number used for taxes and for other identification purposes. Once the company receives confirmation that it has been registered, it may begin doing business in Italy.
Fees include a separate fee for obtaining the VAT number and for maintaining statutory records. A shareholder register, directory register and other records, as required by law, must be maintained by the company. Annual fee and filing requirements are also mandated.