Italy

Incorporation in Italy – 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.

FEES

• Company formation, bank account introduction, VAT application 7,500.00 EUR (if accountancy package is taken)
• Company formation, bank account and VAT registration: 9,500.00 EUR (if accountancy package isn’t taken)
• Registered Address
• Codice Fiscale application 480.00 EUR (where applicable)
• Smart Card 300.00 EUR (required for all Directors)

TIMESCALES

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

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.

Incorporation in Italy – 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.

FEES

• Branch registration, bank account, VAT registration 7,150.00 EUR (with accountancy contract)
• Branch registration, bank account, VAT registration 9,500.00 EUR (without accountancy contract)
• Company formation, bank account and VAT registration, to include government tax, bank account, 1 director, codice fiscale and full set of documents
• Codice Fiscale application 480.00 EUR (where applicable)
• Sworn translation (quoted according to documents)

TIMESCALES

• The whole process takes approximately 4 weeks

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 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 500.00 EUR per month
• Serviced offices: cost as per requirement.

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)