Creativity, initiative and willingness to get involved are features needed for an entrepreneur willing to start a business in Italy. However, to turn ideas into a company, an entrepreneur needs to assess the risks, must know how to write a business plan, choose the legal form of business that best suits his needs and must also be aware of the business start-up costs in Italy and also further taxes that must be paid.
For example, the procedure of opening a company in Italy requires a constitutive act, that shall be delivered in a public document and therefore requires the presence and involvement of a notary which will charge a tax in accordance to services provided.
In the same time there are also other taxes that must be paid, such as registration fee and imposta di bollo.
How much is the minimum share capital?
Business start-up costs in Italy include opening a bank account and depositing the minimum share capital. For a Limited Liability Company the minimum share capital is EUR 10,000 and at the incorporation moment there must be deposited at least 25% of the sum. The Italian state encourages young entrepreneurs to start a business by a special regime of the share capital, of just EUR 1. However, this type of companies do not give guarantees to the creditors.
When opening a joint-stock company (societa per azioni), there must be deposited at least EUR 120,000, with the same rule of depositing at least 25% of the amount at the incorporation moment.
Included in the business start-up costs in Italy are also the corporate and accounting books, which must be brought by the entrepreneur in order to start the company's activity.
Taxes for a start-up
The entrepreneur must also take in account the grant tax which must be paid in the current account of the post office.
The business start-up costs in Italy also include the taxes that must be paid for the registration with the Chamber of Commerce and Register of Enterprises. By this procedure the company gets automatically the tax identification number, VAT number and it is also registered with Social Security Administration (INPS).
The payroll taxes must also be taken in account as business start-up costs in Italy and the costs depends on the number of employees. Please take in consideration that these costs can vary from different payroll service providers.
If you are interestead in the total amount of costs for a start-up in Italy, you can call our agents in company formation who will offer you packages of services.