Eternity Law International Ready-made company in Italy with local bank account

Ready-made company in Italy with local bank account

Published:
April 6, 2020

What is included:

  • Ready-made company in Italy,
  • Account at a local bank,
  • Legal address

Company type: Limited liability company (SrL).

Cost: on request.

Currency: Euro (EUR).

The most common types of enterprises are: a joint-stock company (SpA), a limited liability company (SrL) and a permanent establishment of a foreign company.

For tax purposes a company will be considered resident if:

1) The company has registered address within Italy.

2) The company’s core business is located in country for 183 days per year and more.

3) The company is foreign but owns an entity with a local management.

Inner entities are taxed on their profits both within and beyond Italy. Foreigners, as it is used to, meet taxes subject to the income within the country.

Italian companies are subject to taxes on their clear profit. The same rule applies to permanent establishments of foreigners. Taxes are levied on the amount very close to the one from P & L statement, but there are some corrections.

Those entities which are unprofitable or whose turnover is less than a certain percentage of the value of various asset classes are called “non-working companies”. These entities meet taxes on minimum income even though they are levied at a higher tax rate.

There is a separate procedure for such companies. If the entity registers tax losses for five consecutive financial years — or for four out of five years and does not meet the prescribed profit levels, then from the sixth year — it is recognized as a “non-working company”.

Usually, this model is applied to small entities. However, the company may disagree with such a regime, and file correspondent requested to tax authorities.

Local companies have the right to switch to a tax regime under which their branches are exempt from taxes in Italy. In such case, permanent establishments will pay taxes only in the country where they reside.

This step requires caution because you cannot recall the decision. It should also be noted that you cannot set this mode for only one branch, when you switch to it, all branches of your company are under this rule.

Companies meet combined corporate tax at the rate of 27,9%. This obligation consists from standard 24%, plus the local production tax at approximate rate of 3.9%.

For some financial institutions the standard corporate tax rate is 27.5%. Non-working companies deal with a rate of 34.5%.

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Dreikonigstrasse, 31A, Stockerhof

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Baseina street, 7

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Grosvenor Gardens, 52

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1629 K St. Suite 300 N.W.

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Gediminas Avenue, 44A

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Kesklinna linnaosa, Tuukri 19

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Lochrin Square, 1

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Jacovides Tower, 5 floor

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Esplanade, 7 floor

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18 Harbour Road, 35/F, Central Plaza, Wanchai

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Level 42, Suntec Tower Three, 8 Temasek Boulevard

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20 Martin Place

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2609 Avenida da Boavista

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Revaz Tabukashvili Str., N 45, area N 7