An Italian Simplified Limited Liability Company may be set up:
– by two or more natural persons SRLS multi-personal
– by a single-person limited liability company SRLS
This particular type of limited liability company is particularly used by those who:
– is entering the business world for the first time
– want to start a small business
– has few resources.
– does not need to specifically regulate the relationships between the partners.
Procedure to open a SRLS in Italy
The incorporation procedure and operating rules are identical to those of the ordinary limited liability company.
Italian company law provides that in order to set up a simplified limited liability company (srl semplificata), it is necessary to have
- a share capital of at least EUR 1 and no more than EUR 10,000.
- the share capital must be exclusively in cash and paid up in full at the time of incorporation.
This rule on share capital is different from the ordinary limited liability company (SRL) where there is no limit to the share capital, which, in the case of a payment of more than EUR 10,000, must be paid in at least 25% not only in cash, but also by means of assets, credits and labour.
The articles of association of the simplified limited liability company must be signed before the notary and must comply with the standard models provided for by law.
Amendments or additions to the memorandum and articles of association are therefore not permitted.
The directors of the new company must indicate in all deeds, correspondence and on the website:
1. the name of the company as simplified limited liability company.
2. the amount of the subscribed and paid-up share capital.
3. the registered office of the company.
4. the office of the Companies Registry where it is registered.
Among the advantages of the simplified limited liability company is the exemption from notary fees. Only the fees for registering the company amounting to approximately EUR 300 are due, as well as the costs for registering the company books.
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