italy

Key benefits

Limited Liability Company (Srl – Societa a responsabilitia limitia).

REQUIREMENTS

  • Minimum share capital is: €10,000 for 1 shareholder, €2,500 for 2 or more shareholders
  • Minimum number of directors is one.
  • No restrictions on foreign shareholders.
  • Audited accounts to be filed annually.
  • Annual tax return and VAT filed quarterly plus annual audit.
  • Codice Fiscale required (Fiscal Code Card – used for tax)
  • Any client that does not have any accountancy services with us will need to provide a written declaration released by their accountant stating that they are keeping and filing the client’s company books.

Branch of a Foreign Company

REQUIREMENTS

  • Can be set up if Mother company is within EU and has a VAT number
  • If mother company is within EU but does not have a VAT number, the client will require an Italian resident as a branch director. (The branch director can be a non-Italian citizen but he should be an Italian resident.)
  • Audited accounts to be filed annually.
  • Annual tax return and VAT filed quarterly.
  • Codice Fiscale required.

Tax and accounting regulations

Limited Liability Company (Srl – Societa a responsabilitia limitia).

RUNNING COSTS

  • Chartered accountant from: EUR 5,400.00 registering 20 invoices in and out, email support, yearly return and 1 meeting every quarter. This is to be taken on account and a formal quotation will be given by the accountant.
  • Bookkeeping at cost to be defined according to requirement

NOTES

  • Costs net of qualified tax, duties and costs unless otherwise stated.
  • Costs for standard Srl. Company with basic activity and no employees.

OFFICES

  • Virtual Office in Italy (includes telephone, fax and mail forwarding facilities): 350.00 EUR per month payable quarterly in advance plus 1,150.00 EUR deposit refundable within 30 days upon termination of your office contract
  • If a year is paid in advance the fee is reduced to 320.00 EUR per month plus a 500.00 EUR deposit, refundable when the contract expires and provided that 3 months notice is given. Set up fee for all office contracts is 250.00 EUR
  • Serviced offices: cost as per requirement.

Branch of a Foreign Company

ACCOUNTANCY

  • Company services from: 5,500.00 EUR.
  • This includes registered office, complete accountancy service (including VAT return and tax return), 100 invoices per year. Please contact us for a quote if invoices exceed this figure.
  • Bookkeeping at cost to be defined according to requirement.

NOTES

  • Costs net of qualified tax, duties and costs unless otherwise stated.
  • Costs for standard Srl.company with basic activity and no employees.

OFFICES

  • Virtual office (includes telephone, fax and mail forwarding facilities): 350.00 EUR per month payable quarterly in advance plus1,150.00 EUR deposit refundable within 30 days upon termination of your office contract. If a year is paid in advance the fee is reduced to 500.00 EUR per month
  • Serviced offices: cost as per requirement.

Procedure of company registration

HOW DO I PROCEED?

In order to commence the formation procedure, we will require the following:

  • A completed application form
  • A certified copy of each director/shareholders passport
  • Two utility bills that are less than three months old
  • Copy of Certificate of Incorporation of mother Company
  • Copy of Memorandum & Articles of Association
  • Copy of Annual reports for the last two years
  • Certificate of Good Standing
  • Power of Attorney for the Managing Director
  • VAT Certification (where required)

Limited Liability Company (Srl – Societa a responsabilitia limitia).

TIMESCALES

  • The whole process takes approximately 2-3 weeks
  • Express Service Formation takes approximately 5 days

Branch of a Foreign Company

TIMESCALES

  • The whole process takes approximately 4 weeks