Why is Italy Company Formation a Good Business Idea?
Italy is the place where most of the popular brands are based on and this country has many open policies for foreign investors. The growing sectors of this country are tourism, agriculture, manufacturing, real estate sector and food manufacturing industries. Italy company formation is beneficial for those who invest a certain amount along with selecting specific locations for their business activities.
Steps for Italian Company Formation
The first and foremost step required in business registration in Italy is the preparation of all the necessary documents such as:
- Article of Association
- Signatures from company’s director on the papers
All these required documents must be submitted to the relevant authorities along with a business registration fee. Then, you need to open a local bank account in Italy and deposit a minimum share of the capital amount.
A bank account opening typically requires a business registration certificate, submitting the bank opening application form and other paper works provided by the bank. For all this, it is essential that you appoint a local representative who can carry out these work on your behalf.
To obtain a tax and VAT number, you need to submit the tax application form to Register of Enterprises. The new company must also register with the Social Security Administration. There should be an announcement of employment from the Labour Office. Consequently, you must understand deeply the provisions of the labor law in Italy.
Documents Necessary for Italy Company Formation
The local and foreign investors must prepare the following documents which are necessary for business registration:
- Details of the investors- passport copies and ID proof.
- The business registration certificate of the foreign companies
- The documents for business registration in Italy should undergo drafting and notarization procedures.
- Depending on the business type, other documents must be present.
Business Entities in Italy
The different business entities which are functional in Italy are:
- The limited liability company is a successful business entity for those who are setting up small or medium scale businesses. This business entity is under the control of a director or a board of directors.
- The joint stock company is usually selected by those investors who want to invest a large amount and carry out more extensive operations.
- The general partnership type of business entity requires at least two partners in the company.
- The limited partnership type of business entity arises from a general and a limited partner.
- The sole proprietorship is under a single individual and is the simplest way of doing business here.
- Branch offices can flourish in Italy from the parent companies. All activities are under the monitoring of the parent company.
- Light branch offices may carry out only some specific activities which should only be in Italy.
- Subsidiaries are created by the limited liability companies which are an independent business entity.
- Representative offices must carry out marketing and research work, mainly to understand the Italian market and the scope of their business in Italy.
We do company formation in the United Kingdom office by providing incorporation services which will help you in selecting the right business entity according to your business requirement. We’ll also assist you in all steps of Italy company formation. Contact us for more information.