Assess the risks
If you want to start business in Italy it is vital to be creative, initiative and willing to get involved. To become an entrepreneur you should be able to assess the risks related to your particular type of business as well as know how to write a business plan and be aware of the business start-up costs in Italy.
Business start-up costs in Italy include opening a bank account and depositing the minimum share capital. For a Limited Liability Company the minimum share capital is 10000 EUR and at the incorporation moment there must be deposited at least 25% of the sum. The Italian state encourages young entrepreneurs to start a business by a special regime of the share capital of just 1 euro.
Opening a joint-stock company
When opening a joint-stock company there must be deposited at least 120 000 EUR and the same rule of depositing at least 25% of the amount at the incorporation moment applies. Other start-up costs include corporate and accounting books.
You, as an entrepreneur, should also take into account the grant tax which must be paid in the current account of the post office. Also business start-up costs include the taxes that must be paid for the registration with the Chamber of Commerce and Register of Enterprises. Under completion of this procedure your company will automatically get the tax identification number, VAT number and it is also registered with Social Security Administration (INPS).
The payroll taxes must also be taken into account as a business start-up costs and these vary considerably according to the number of employees. This type of tax may be very different from various payroll service providers.
If you are interested in the total amount of costs, it is wise to obtain a professional advice for a business start-up.