Full assistance for foreign companies to operate in Italy
Tax, financial, accouting and legal.
Vannucci & Associati provides a wide range of international consulting services to small and medium sized companies worldwide. We design recommendations by effectively evaluating the market conditions, which are specific to each customer’s needs and issues. Since 2010, we are proud members of the international network MGI with CPAAI. Furthermore, our professionals have a deep understanding of complex problems and can provide pragmatic solutions and strategic advice to the private and public sectors.
Our vast experience in solving tax, financial, accouting and legal business problems allows us to give our prospective clients some answers about the complex Italian system. Read our Frequently Asked Questions and published articles on the topic. If you have further enquiries, our team of experts can provide you with detailed answers.
Frequently Asked Questions
Most small businesses will choose to incorporate as a limited liability company, known in Italy as an S.r.l. This requires a minimum share capital of € 10,000 that must be deposited, even in part, into an Italian bank account. It is also possible to set up simplified limited liability companies without a minimum capital requirement.
Other types of business structures can be chosen, based on your products and services, personal liability, and taxation. For example, companies without limited liability can be set up, known in Italy as Società semplice or SS (for agricultural activities), Società in nome collettivo or SNC or Società in accomandita semplice or SAS (in which some shareholders have limited liability).
It is not necessary to set up a company to carry out work in Italy. Foreigners can work individually as an individual entrepreneur (imprenditore individuale) or freelancer (lavoratore autonomo). In these cases, setting up a business is simpler than for a company.
The framework of possibilities and obligations for starting a business in Italy is different for every type of business (read more here). It is therefore advised to turn to experienced professionals in order to seize all the opportunities, choose the best form of business, and avoid errors and possible penalties.
One of the most important requirement is having a minimum share capital of 10 000 euro (although only 2 500 euro are needed for the set up moment). The company should also be incorporated by at least one shareholder and one director, contain the abbreviation SRL in its name, and have a registered office in Italy.
In addition, you will need a notary and a VAT number. You will also have to comply with some initial formal obligations.
Our firm can take care of organizing all the activities related to the establishment and VAT number. We can also help you acquire the certified electronic mail, digital signature, establishment and endorsement of company books, among others.
Once the company has been set up, it will have to open a bank account with an Italian bank where all the company’s receipts and payments will be managed.
Setting up a company does not provide sufficient grounds for living in Italy longer than 90 consecutive days, so in order to remain in Italy and manage a company, the investor must have a permit to stay. This is why obtaining a residence permit is one of the most important aspects that a prospective foreign investor should consider.
In Europe, there is a “Permesso unico di lavoro” (in accordance with Leg. Decree 40/2014), which allows you to work in Europe in the country that issues it. This residence permit lasts one or two years and allows a person to work (as in the case of a residence permit for family reasons), but it is not valid for working in other EU countries because it is not an EC long-term residence permit. Non-EU citizens that have a long-term residence permit can carry out any economic activity in Italy (Leg. Decree 3/2007).
Articles about doing business in Italy
10 questions before buying a Farm in Italy or a property complex
If you are planning to spend your time "under the Italian sun" by purchasing an agricultural property, and you want to maximize its architectural, historical, agricultural, and recreational value, you can find an in-depth informations.
Opening a Business in Italy: The Basics
Understanding how business works in Italy may appear daunting to foreigners. Therefore, we provide some indications about the modalities for opening a business and the various fiscal, accounting and tax procedures involved within.
Taxation of Foreign Dividends
Dividends represent profits deriving from the possession of a shareholding. We analyze in this articele the taxation of dividends from foreign sources deriving from participation in a foreign company, received by a non-entrepreneurial natural person (i.e. individual) resident in Italy, or a company based in Italy.
Flat Tax: Professionals and Small Businesses
Since 2019, taxpayers with a VAT position in the flat rate scheme (regime fofettario) will benefit from a 15% tax rate on last year's compensation or income (up to 65,000 euro) and a 5% startup rate for a new VAT, applicable over the next 5 years. We analyze additional benefits, requirements and conditions of this scheme for foreigners.
3 reasons for choosing us
100 countries
Your ambitions have more global potential: our firm is part of MGI International and CPAAI, a worldwide network that shares projects and business solutions on a broad scale. You have 645 firms, like ours, at your disposal.
18 professionals
You are accompanied by a team of professionals, each one specialized in different aspects of finance and accounting consultancy: it is a cohesive team, with which you can always confront yourself to reach your goals.
35 years
Experience matters. It allows us to give precise and efficient solutions, accompanied by our extensive knowledge of the Italian system. We share these goals with joy: we help foreigners do business in Italy and simplify bureaucratic processes.