Company Formation Italy

About Italy

Italy is a European country located in south central Europe. Italy borders by France, Switzerland, Austria, Slovenia, and Vatican. The country has more than 60 million people and a GDP of more than $2 trillion. This makes it the 12th biggest economy in the world. Italy was the founding member of G7, the EU, and OECD. The country is known for its many historic sites. It is also known as the sixth biggest manufacturing country in the world. The automotive sector is one of the biggest sectors in the economy. Italy ranks at position 58 on the ease of doing business. 

Why Register a Company in Italy?

  • Italy is an influential member of the European Union. 
  • Italy has multiple investable areas in the manufacturing and services industries.
  • Italy has started lowering its corporate tax rate.
  • Italy is one of the most affordable countries to do business.
  • Italy has a large population, which means that there is a large total addressable market.
  • Italy is an advanced economy with developed infrastructure.

Steps for Registering a Company in Italy

Registering a company in Italy is an easy – but rigorous – process. You need to be a citizen to register a company in Italy. However, if you are a foreigner, you need to address the immigration issues by having a passport and a residency visa. Here are the steps you need to follow when registering a company in Italy.

  • Company name – You should check the company name to see whether the name is available. 
  • Select the type of business – There are several types of businesses you can register in Italy. These are:
    • Sole proprietorship – This is recommended for small traders and individuals.
    • Limited liability company – The minimum share capital is EUR 10,000.
    • Simplified limited liability company – The minimum share capital is between EUR 1 and EUR 9,999.
    • Stockholding company – The minimum share capital is EUR 50,000.
    • Branch of a foreign company.
    • Representative office’
    • Non-governmental organization.
  • Deposit at least 25% of the minimum share capital.
  • Public deed of incorporation – You should deposit your company documents to a public notary. These includes the memorandum of association and the company constitution. The registration fee is between EUR 90 and EUR 120. There is also a stamp duty of EUR 65.
  • Buy corporate books and accounting books – A limited liability company needs to have corporate books. These are two accounting books and a minute book.
  • Pay government grant tax – You should pay a government grant tax to the office of revenue. This amount ranges between EUR 309 and EUR 516.
  • Register online with the Register of Enterprises at the local chamber of commerce.
  • Notify the Labor Office about the employees you employ.

FAQs on Registering a Company in Italy

What is the corporate tax rate in Italy?

The corporate tax rate in Italy is 24%. The current administration is in the process of lowering this rate. Banks and some financial organizations pay a corporate tax rate of 27%. A dummy entity is charged a corporate tax rate of 34%.

How long does it take to register a company in Italy?

The process of starting a company in Italy is a bit long. It takes between a week and six months to have a company registered.

Do I need a lawyer to register a company in Italy?

It is not mandatory but it is recommended. A lawyer will help you navigate the process of registering a company. Some of these processes are intellectual property, bank accounts, and litigation. At GFSC, we have a team of well-experienced professionals that can help you register a business in Italy.

 

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