Italy

Italy is known for its tourism, fashion, design, and food industry, but also by the machinery and automation sectors. Italy has a comprehensive tax system and it differs in bureaucratic point of view from, for example, Germany, though these are both complicated countries in a term of administration in general. Italy is known for selling very cheap real estates in rural areas which are abandoned by locals who moved in bigger cities. In those villages, you can buy from the Government a house for low as 1 EUR. Their plan is to rebuild those villages. Therefore you can easily become an owner of a property in a village which can in 10 years become a popular touristic destination.

Italian limited liability company comes in 2 options. Traditional S.R.L. and Simplified S.R.L.S. The main difference is in the share capital and Simplified (S.R.L.S.) can have only individuals as shareholders.

Corporate tax VAT
24% 22%

Limited liability company

Traditional S.R.L., Simplified S.R.L.

Minimum Share capital

10 000 EUR, in some cases 2 500 EUR

Registered office required

Yes

Physical office required

No

Min. number of Shareholders

1

Min. number of Directors

1

Local Director required

No

Other requirements

Social security number needs to be obtained for every director

Bank signatory must travel

Yes

Timescale for company formation

10 days

Timescale for bank account opening

1 day

Timescale for obtaining VAT number

2 days

Statutory audit requirements

Yes

Shelf companies available

No

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