Italy is the one of the biggest economies in European Union and has very important role both in EU and the world economic system.
The most common company type in Italy is SrL, it can be set up by one director and one shareholder. There are no restrictions on foreign shareholders; the minimum share capital is 10.000 Euro to open limited company in Italy and responsibility of the shareholders is limited by their shares in the company.
To open a joint stock company (Società per Azioni (SpA) in Italy minimun 120.000 Euro of share capital is required, at least one shareholder and one director are needed to open the company. The shareholders’ responsibility is limited with their contribution to the share capital. There are no restrictions on foreign shareholders.
Foreign companies that want to run their business in Italy can open branch office. The foreign parent is responsible for all liabilities of the Italian Branch and minimum of one director is required.
Corporate Income Tax in Italy
Corporate income tax (Imposta Sul Reddito Sulle Società or IRES) is 24% and to a regional production tax (Imposta Regionale Sulle Attività Produttive or IRAP) is generally 3,9%.
Standart Value Added Tax are is 22% in Italy and reduced rates of VAT are 4%, 5% and 10%
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