Opening an LLC in Italy: a straightforward process with the help of an expert
Authors: Luca Ruggeri – Attorney at Law e Fabrizio Andreocci – Tax Advisor
Establishing an LLC in Italy as a foreigner
The process of establishing a LLC in Italy is not very complex, but it is advisable to seek assistance from a local professional (lawyer and tax advisor) to avoid problems. An experienced professional can follow the entire procedure by proxy, even without the client’s presence in Italy.
Main steps to open a company in Italy
Step 1: Choosing the right LLC in Italy
There are two types of LLCs in Italy:
- the ordinary LLC (so called “S.r.l”);
- and the simplified LLC (so called “S.r.l.s.”).
The ordinary LLC in Italy requires a minimum share capital of €1, while the S.r.l.s. requires a minimum share capital of €1 and cannot exceed € 9,999.99.
Step 2: Drafting articles of association and bylaws
These documents must be drafted by a notary and contain information such as the company name, the corporate purpose, the registered office, the share capital, and the names of the shareholders.
Step 3: Register the company with the Chamber of Commerce
The company must be registered with the Chamber of Commerce of the province in which it has its registered office.
Step 4: Obtain the Italian VAT number
The Italian VAT number (Partita Iva) is necessary to carry out commercial activities in Italy.
Step 5: Open a bank account
The company must open a bank account in the name of the company.
The average time to register a company in Italy is about 10 days, if everything is done correctly and with the help of an expert.
Advantages of opening an LLC in Italy
Here are some of the advantages of opening an LLC in Italy:
- Limited liability: The shareholders of an LLC are only liable for the capital they have contributed.
- Management autonomy: The shareholders of an LLC are free to manage the company as they see fit.
- Access to financing: LLCs can access financing from banks and other credit institutions.
- Tax breaks: LLCs can benefit from tax breaks.
If you are considering opening a company in Italy, we recommend that you contact a local professional for assistance. An experienced professional can help you choose the type of LLC that best suits your needs, draft the articles of association and bylaws, register the company with the Chamber of Commerce, and obtain an Italian VAT number.
Opening a company in Italy remotely: setting up a business in Italy as a foreigner
As mentioned above, it is possible to set up a company in Italy remotely, without coming to Italy, by appointing a selected professional in Italy through a proxy. This proxy must be signed in the presence of a notary and legalized (apostilled). The appointed company administrator will then be required to be physically present in Italy to open the bank account.
Advantages of opening an LLC in Italy remotely
Here are some of the advantages of opening a company in Italy remotely:
- Convenience: You can set up the company without having to travel to Italy.
- Cost savings: You can save on travel and accommodation expenses.
- Speed: The process can be completed relatively quickly.
Note: The information provided in this article is for general informational purposes only and does not constitute legal advice. It is important to consult with a qualified professional to obtain specific advice tailored to your individual circumstances.
For more information: https://www.legalassistanceinitaly.com/corporate-law/
Additional resources
The Italian Chamber of Commerce: https://italchamber.org/
The Italian Revenue Agency: https://www.agenziaentrate.gov.it/portale/web/english/nse/the-revenue-agency