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Understand the Jurisdictions Setup Requirement Before Proceed Your Italy Company Incorporation Services
Why Choose to Incorporate a Company in Italy?
For an investor to select a country to establish a new business in, that country would have to have strengths to offer and reasons good enough for an investor to consider incorporating a company. Italy’s market is known for the following strengths:
- It has a modern infrastructure which is conducive to business environments.
- It is one of the world’s top tourist destinations. A country that is a popular tourist destination equals more spending power for businesses.
- Italy has a high level of internationalisation and entrepreneurship along with fully integrated supply chains.
- Italy is the gateway to Mediterranean and Middle East markets, which investors who are set up in Italy can use as a base to extend trade with other neighbouring countries.
- Italy also plays host to many trade exhibitions with global appeal.
- The Italian government has also adopted a more flexible approach to hiring by employers and ease the requirements for debt issuance by the SMEs.
- Businesses in Italy are also allowed to carry forward their business losses indefinitely and for up to 80% of the year’s taxable income.
How to Incorporate a Company in Italy
To begin the process of incorporating a company in Italy, investors would need to do the following steps:
- Execute a public deed of incorporation and company bylaws before a public notary and pay registration tax. This can be done with the Notary Public. A public deed of incorporation which includes the company’s bylaws must be drafted and executed before a public notary by the quota holders or their authorised representatives.
- Purchase corporate and accounting books. This can be done wither at the Notary or Register of Enterprises.
- Investors would then need to pay the government tax fee to authenticate the corporate and accounting books. This can be done at the Tax Revenues Authority.
- Investors would then need the activation and registration of the P.E.C which can be done by email service providers.
- Registration of the company incorporation is the next thing to be done. Investors would need to receive the business tax identification number, VAT number and register with the Social Security Administration and Accident Insurance Office. These can be done with the Register of Enterprises.
- Investors would then need to notify the competent Labour Office of the employment of workers. This can be done at the Competent Employing Office.
The company incorporation procedure in Italy should take approximately five weeks to complete. Investors do not need a resident director for the incorporating of a company in Italy. The shareholders and directors of the company can be a resident of any country and still be able to incorporate a company in Italy.
Are you looking to get your company incorporated in Italy? For further assistance, let 3E Accounting’s panel of experts guide you through the process and get your business started on the right track. Contact us with your query for a prompt reply.