The Limited Liability Company
If you want to register a SRL in Italy, you will need to follow a few steps and complete the required company incorporation procedures.
This type of company is more suitable for small and medium sized businesses and it is popular among investors due to its flexibility, simple set up procedures and easy running.
The costs for opening a limited liability company in Italy include several taxes and fees as well as the minimum share capital of 10 000 EUR. The contributions can be made both in cash and in kind. The minimum share capital is divided into shares per the existing number of shareholders and they can be freely transferable. The Italian SRL must have at least one shareholder.
A company in Italy must be registered with the Trade Register within 20 days after the incorporation deeds have been drawn up and notarized. Companies should also be registered at the local Revenue Agency and depending on the business sector will need to register for VAT. For businesses operating in certain sectors it is necessary to obtain special permits and licenses.
A SRL in Italy will have to comply with the accounting principles in the country and observe the requirements for preparing and submitting annual accounting books that must be kept by an Italian company. The annual financial statements required by law for an Italian company include the balance sheet, the profit and loss account and notes to the financial statements. In some cases, a limited liability company in Italy needs to appoint a board of statuary auditors. A company in Italy must submit the annual corporate income tax returns within nine months after the end of the financial year.