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GLOBAL INFO

Italy

COUNTRY:

ITALY

QUESTION:

ANSWER:

1.      What are the main company forms in your country?

Association of persons and Corporations

2.      Which is the most preferred company form by foreign investors?

1) LIMITED LIABILITY COMPANY (S.R.L.)

2) JOINT STOCK COMPANY (S.P.A.)

3.      What are the basic capital requirements of this company? (minimum amounts, types of capital, deadline of capital contribution)

€ 10.000,00 for  LIMITED LIABILITY COMPANY (S.R.L.)

€ 50.000,00 for  JOINT STOCK COMPANY(S.P.A.)

4.      What are the basic rules of shareholders liability for company debts in this company?

There are not.

The shareholders liability just lose their investment.

 

5.      What are the basic management requirements for this company? (only natural persons, or nationals can be managers etc.)

Natural persons as well as legal persons can be managers or directors of the company. They should be without charges judicial pending (provable by a self declaration).

There is no nationality requirement for managers or directors.

6.      How long does the registration procedure of this company take?

The procedure takes about five or ten business days.

7.      What are the main costs of formation of this company in local currency?

The main costs are the public notary and you should register at a Chamber of Commerce Office, that amount in:

- € 2/3.000,00 for LIMITED LIABILITY COMPANY (S.R.L.)

- € 4/5.000,00 for JOINT STOCK COMPANY (S.P.A.)

 

8.      What is the average attorney’s fee of the formation of this company in local currency?

€ 4/5.000,00 depending on complexity of the by-laws

9.      What are the basic publicity requirements of this company (filing of company changes, financial reports, etc.)

The company formation and every modification shall be published on Register of Companies and at the Chamber of Commerce.

10.   What are the main auditor requirements?

Companies are obliged to appoint auditors as follows:

- LIMITED LIABILIY COMPANY (S.R.L.): if It is obliged to prepare consolidated financial statements; if it controls a company obliged to statutory audit (such as checking a SPA); a limited company which, for two consecutive years, has passed two of the limits set forth by art. 2435 - bis of the Civil Code; or, at least 4 million 400 thousand EUR of balance sheet assets; or at least 8 million 800 thousand euro of revenues from sales and services ; at least 50 persons employed on average during the year .

- JOINT STOCK COMPANY (S.P.A.): in any case.