Eternity Law International — News — Corporate services in Italy

Corporate services in Italy

Published:
March 28, 2023

Italy has a stable economic situation. Therefore, this country provides a favorable investment climate for starting a business. Today many large companies are striving to cooperate with top Italian companies. The best option to establish communication with such companies is to register your company in this market. In this case, Italy Corporate Services comes to the rescue.

What points are important to pay attention to when opening a through сorporate services Italy

To extend a business in Italy there are many factors to consider. For citizens from the EU or Schengen countries, this process will be easier. But if another foreigner decides to register a company through сorporate services Italy, he must have at least a residence permit.

Granting a residence permit can be on the principles of reciprocity. This means that the country where the citizen resides is obliged to provide similar benefits for residents of Italy (for individuals and legal entities).

As for the residents of the European Union, their investments in Italy are always welcome and provide the opportunity to do business without restrictions. Residents of other countries at least need to obtain a license to operate in the Italian market.

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Forms of ownership in Italy

The following forms of business companies are available to foreigners in the Italian market:

  • corporations;
  • subsidiaries;
  • representative offices.

These forms have their characteristics and provide different opportunities. Each of them is designed for a certain volume of operations and has different requirements for the authorized capital. That is why consulting companies, when contacting clients, immediately ask about the type of business to find the right form of ownership more quickly.

Corporations

Corporations in Italy can be created in two different forms. The first is SRL, the analog of a limited liability company. The minimum authorized capital for such a company must be 10 thousand euros. In this case, 25% of the amount must be paid even before the completion of the registration of the corporation.

The remaining 75% can be paid during the year. The amount of the share capital is prescribed in the articles of incorporation and certified by the signatures of all shareholders. Shareholders are liable within the percentage of their shares in the company.

The second form of corporate ownership is the SPA or the equivalent of a publicly traded company. When opening such a company, the minimum authorized capital must be at the level of 50 thousand euros.  In these companies also 25% of the share capital is paid before registration. A committee of auditors is also required. Companies with this form of ownership can issue shares, unlike LLCs.

In both forms of ownership, it is necessary to appoint a director or board of directors. They are also required to hold periodic meetings of the shareholders and all members. At these meetings, the company’s balance sheet is approved, and its strategy, development plans, and possible changes to its structure are discussed.

Subsidiaries

Subsidiaries are also often used for business registration. Such companies often have foreign owners. This form of ownership opens a legal entity with its powers. However, its ultimate owner is the foreign holding or parent company. It owns a share of the capital of the subsidiary company or its shares.

In Italy, such companies operate separately from the parent company. It must be registered under Italian law as a separate legal entity. Subsidiaries are required to keep their financial statements, and documents relating to the payment of taxes and submit declarations of income, which they received on the territory of Italy. Such companies must have a bank account.

Representative offices

It is also possible to register a foreign representative office or RO in Italy. This form of ownership does not mean a separate legal entity in Italy. All its activities will be controlled by the foreign business and the holding company which opens the representative office.

This form of ownership is considered the simplest and least expensive type of structure. At its opening, there is no need to think about authorized capital. According to RO, the main limitation is the scope of the company.

This means that the company cannot engage in commerce and make a profit. The only aim of the company is preparatory activities (ordering advertising, marketing, analytics, brand development, macroeconomic analysis, etc.).

Unlike previous forms of ownership, RO does not need to apply for a VAT number. There is also no need to follow some accounting and tax accounting rules.

Taxation

When registering a business in Italy, tax obligations will be imposed on the company. Their size depends on the status of the legal entity. At the same time in the country, there is no currency control and the authorities support the “freedom of capital. The country has signed 99 agreements with the leadership of other states to abolish double taxation.

For resident companies, a corporate income tax on global profits of 24% and more applies. Also apply local taxes, which will depend on the type of activity. For example, if a company is engaged in the production of goods, it is 3.9%. Such percentages may also depend on the region where the company is registered.

The amount of corporate tax is based on the amount of net profit that resident companies make when operating in the market during the last fiscal year. Companies may also be charged:

  • capital gains tax (27.5%);
  • withholding tax (20-22,5%);
  • value Added Tax (22%);
  • other transactions (4-10%).

When working for export to the EU, VAT may not apply. In addition, in Italy at the legislative level prescribed limits on the write-off of bad debts. The minimum rate for the year is set at 0.5%.

Registration stages

Before registering a business сorporate services in Italy try to help clients gather the entire package of documents. This procedure is quite complicated. First of all, the director and the owner will need to come to Italy to register a legal entity. The most important stages in setting up a company are:

  • the preparatory process is in the form of the formation of a business plan, and the determination of the type of activity of the company. This information will allow you to choose the optimal tax regime;
  • preparation of personal documentation of the founders (passports/foreign passports, etc.);
  • creation of the Charter and notarization of a copy;
  • availability of the reserve company name;
  • opening bank accounts and depositing the share capital;
  • filling in the registration form;
  • submission of documents to the Chamber of Commerce of Italy;
  • registration with the Tax Inspectorate to obtain a tax and VAT code;
  • social Security registration;
  • licensing.

Most often the registration of the company takes a few days. That is why it is better to contact a company that can help with this issue.

Where to find a company to help register a legal entity

For optimal time costs for the registration of your business in Italy, we recommend contacting us. Our team of professionals of the highest level has been working for many years. Each of them will advise you and help you gather the necessary documents.

With our help, the process will be completed within 24 hours. At the same time, we will check all submitted documents to avoid mistakes when submitting them. On our website, you will find a lot of useful information for you and we are ready to answer any questions you may have.

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