DOING BUSINESS IN ITALY EXPO 2015
It is not a good moment for Italian economy, but expecially in Milan in this kind of market some good opportunities could arise for the new investors. Milan has been chosen for the next Intenational www.milanoexpo-2015.com/2015 and every year hosts many important exhibitions at the new Fiera di Milano.
If your company wish to do business in Italy start as follow:
Find a good agent, with a great background in your market. It is possible find someone through the Chamber of commerce, or advertising on the economy newspaper.
Have you found the man?
You need an Italian Limited company S.r.l. (Società a Responsabilità Limitata)
Unfortunately It involves some costs higher than in other countries as following:
Minimun capital to be invested (compulsory for the Italian law) € 10.000,00
Notary’s fee (the public Notary in Italy is the only professional who can draft the contract for a new company) € 2.000,00
Chamber of commerce enrolling Tax (yearly) 400,00
Other professionals (lawyer for legal issues and accountant
for tax and drafting the yearly final budget) € 5/6000,00
Lease of the office etc …(It depends of the size and the area where located) € 15.000,00
The S.r.l. is the company because it does not involve any responsibility for the shares’ owners in the event of insolvency or bankruptcy.
The new company could be lead by your Italian representative (your agent who could be nominated administrator), but with the strictly control of your Foreign Head company which will hold the majority of the shares .
All the businesses should be promoted by your agent, but contracted and closed directly by the holding company. This the only way to preserve your business abroad reducing the taxes in Italy and mantain the total control of the Italian business. The agent could earn on percentage of your gains.
Following some useful website to do business in Italy.
www.en.sviluppoitalia.it/
http://www.investinitaly.com/default.jsp
http://waieng.mi.camcom.it/show.jsp?lang=en
http://www.startinitaly.it/
http://www.expatsinitaly.com/bookexcerpt/startup.html
Interested to start with your Italian business for the next Expo 2015, It is not too early. Contact us by e-mail info@studiolegalebottino.it