Export To Italy - Company Formation & Company Registration In Italy

Introduction to the benefits of Italian incorporation

Still battling to shake off its reputation as an economic slow starter, Italy has recently taken new steps to position itself as a welcoming home for foreign investment. The result is that Italy is slowly emerging as a land of opportunity, although you will need specialist local advice to help navigate your way through the bureaucracy. We are experts at Italian company formation and Italy company registration, so please contact us if you require further information on how to set up business in Italy.

Main types of Italian company formation

There are three major kinds of Italian incorporation for foreign investors, and they are as follows:

• limited liability company (SrL)
• joint stock company (SpA)
• branches

Main features of an SrL

• most popular format for small to medium businesses
• minimum share capital is €10,000
• no restrictions on foreign shareholders
• audited accounts to be filed annually

Minimum number of directors of an SrL

One director is required for a Srl. It is, however, best to have a minimum of two shareholders otherwise if using just one shareholder only, the company will have to have the words 'Società Uninominale' in its title and liability will be deemed to be unlimited.

Main features of an SpA joint stock company

• main format for medium to large companies
• minimum share capital is €120,000
• minimum number of directors is one
• no restrictions on foreign shareholders
• audited accounts to be filed with the Registrar of Companies

Main features of a branch

• foreign parent responsible for all liabilities of Italian branch
• minimum of one director required
• accounts to be maintained but no reporting requirements

How easy is it to set up business in Italy

Establishing a company in Italy can be more complicated than other European countries, but like anything else, it is a matter of mastering the procedure. The formalities include the following:

Set up business in Italy arrange articles of association and memorandum of association

• executive articles of association before a public notary
• obtain an Italian tax code and identity document
• open a local bank account
• register for VAT
• file with the Registrar of Companies
• secure approval by a local tribunal

We are experts in Italy company registration, so please contact us to help you every step of the way, if you wish to set up business in Italy.

Staff Recruitment in Italy

As a rule, it is easier to recruit staff in the underdeveloped south, where unemployment is high, compared to the wealthier north of the country. Recruitment agencies for permanent and temporary staff abound, however, and the workforce is generally of a high calibre. Labour laws strongly favour the employee and it is essential to take advice before entering into a contractual arrangement - we have a network of local experts who will be happy to help you on this point.

Regulatory environment

Much more liberal than it used to be. Capital and dividends can be freely repatriated in line with EU rules and Italy has a number of double taxation treaties. However, public authorities are weighed down with bureaucracy and the legal system is slow. Foreign ownership is permitted in all industries except for defence-related areas such as aviation and shipping. Certain restrictions apply in the telecommunications sector.

Financial incentives for Italian company registration

Italy offers a variety of incentives for foreign and local investors alike. These include:

• corporation and local tax breaks for ten years in areas of high unemployment
• research and development grants covering up to 50% of total R&D costs
• low-interest loans for enterprises that encourage exports of Italian goods

Banking facilities

Milan is one of Europe's foremost financial capitals and banking facilities across Italy are generally good. Efforts are underway to rationalise the many hundreds of independent local banks and facilities are expected to improve further once this process is complete. We will be happy to help you to open a bank account in Italy.

More Information

Our Italian company formation service makes it easy for you to set up business in Italy, so please contact us for further details.

To find out more about how Export To Italy can help your business, please call us on +44 (0) 870 879 5367
or e-mail us at info@exporttoitaly.com