Italy Company Formation Requirements
What are the Italy company formation requirements? Italy requires only one director of any nationality, but that person must be an EU passport-holder for company formation, and that person must obtain a fiscal number. You only need one shareholder but it’s best to have two because single shareholder entities have unlimited liability. The shareholder may also be a corporation.
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If you want to set up an enterprise in Italy, you must open a bank account and note that some banks do not allow for deposits not made in-person. You must go and file your registration at the Register of Enterprises within 30 days of the official date of your entity’s incorporation. You’ll then receive a number for other identification purposes that include taxes. You can commence trade in Italy upon confirmation.
Here are the other requirements for successful company formation in Italy:
- Maintenance of a shareholder and directory register
- Audits, unless if it is an SME exempt from audit requirements per EU legislation
- A detailed description of the intent of the enterprise
- Disclosure of whether they will hire employees in Italy or not
- A bank account
- VAT Registration Number
- Registration with the Register of Enterprises within 30 days of your official incorporation date
- Maintenance of statutory records
- A business plan that details the projected sales in the first years of operation, the value of share capital and the distribution among shareholders and the jurisdictions of operation
- The names, dates of birth, nationalities and proof of address for the directors along with photo identification