How to start a business in Italy? Steps and options
Italy is an interesting market where to start a business. Italy is the 3rd largest economy in Europe and the 8th in the World. Moreover, its strategic position, from a geographical standpoint, facilitates trades between Northen Europe, Southern Europe, North Africa and the Middle East, making Italy a great place where to expand or start an international business. If you’re wondering if you can start a business in Italy, we suggest you a few steps to consider that may be helpful.
To start a business in Italy, is important to define your activity. What is your business about? What kind of structure and target does it have? If you your business model and your goals match the Italian, let’s get into it!
Define the type of business you want to set up
Italy offers different options to start your business. It is necessary to identify in which of the existing categories your business will fall under, depending on its size, function and budget.
Choose the type of company
To set up your business, in necessary to define the type of company is the best fit for your needs.
Limited liability companies
S.R.L. And S.R.L.S. Are the most common types of limited liability companies in italy and they allow the broadest flexibility to the founder(s).
Founders (or some of them) have unlimited liability towards creditors and need to use their personal assets to pay the debts and obligations of the company.
They are “for-profit” companies that, at the same time, achieve one or more beneficial purposes.
Are the easiest and fastest way to start a small business in italy. The owner is the only responsible for the enterprise.
Innovative start-up company
Companies whose core business consists in the development, production and commercialization of innovative goods or services of high technological value.
They are foreign “units” of the mother company. They are not a separate legal entities and are considered as permanent establishments subject to taxation in Italy.
They are fixed places for promotional, advertising activities, collection of information, scientific or market research.
Discover more on all types of companies you can set up in Italy.
Check your permit requirements
To open a business in Italy as a foreigner, you should know that there are no specific limitations regarding most nationalities, when it comes to opening a company in Italy. Director/Shareholder doesn’t need to have Italian residency, it is enough to provide an ID or a vaild passport.
However, if you’re planning to move to manage your business locally, don’t forget to get a legal permit to live and work in Italy. Discover more on our immigration services.
Understand the time frame
How long does it take to register a company in italy? The time frame for a foreigner to set up a company (including obtaining VAT and opening a bank account) is approximately 5-6 working days from the day in which we start the incorporation procedure. It may vary according to the type of business you need to set up.
Be aware of the challenges
Bureaucracy, despite what is said about its complexity, can be easly overcomed by good preparation, clear ideas and a professional support. The best way to have your business be set up smoothly is to rely on local support.
Ask for local professional support
Our team of lawyers provides legal assistance in setting up a business in italy and many other related services. You can benefit from having a single provider for all the different needs of your company, from setting up a business to tax, accounting, payroll and immigration services. Contact us.