Which is the standard time table to setup a legal entity in Italy?
The time tableand procedure to open a company in Italy would be the following:
Day 1: obtain a fiscal code (tax identification number) for the director of the company; this can be done without client coming to Italy;
Day 1: drafting memorandum & articles of association and sing the incorporation deed with the notary; we can do this without client coming to Italy as long as client provides us with a notarized and apostilled power of attorney the wording of which we can of course draft;
Day 2: VAT application: VAT is usually granted within 2 working days;
Day 4/5: filing of the notary’s deed and the VAT number with the Registrar of Companies; the Registrar of Companies will issue the certificate of incorporation within 3 working days;
Day 7/8: opening of the bank account (you will need to physically come to Milan and the account will be opened same day).
