The Italian economy is showing positive prospects, as at the beginning of 2016 the local authorities have signed various agreements that will lead to important financial projects. Foreign investors interested in opening a company in Italy should know that there are two possibilities through which they can set up a business here; first options refers to the incorporation of a new company, while the other option refers to the purchase of an already registered company. If you are interested to buy a company in Italy, our Italian law firmcan provide you with assistance on this matter.
The incorporation of a company is a process that is relatively simple, but it is more time consuming, compared to the purchase of an already made company, which is usually referred to as a shelf company. It is recommended to buy a shelf company if you want to start your business operation as soon as possible.
Buying a shelf company in Italy
Businessmen who want to buy a ready-made company in Italy should know the main requirements such a company should meet, at the moment of purchase.
Any shelf company in Italy shoud have the following:
When buying a shelf company, you can choose from companies incorporated as a limited liability companies, or a joint stock companies.
The Italian legislation stipulates that after the ownership transfer has been effectuated, the new owner can change the business name of the company.
The transfer of ownership is done under the surveillance of an Italian notary public and, after this process is completed, the new owner should submit the modifications brought to the company at the Register of Enterprises.
Furthermore, the buyer will have to appoint the directors of the company and after this procedure is registered, the company can begin its activity; investors who want to buy a shelf company are advised to receive the legal assistance from Italian lawyers, who are familiar with the local legislation and taxation system.
Reasons to buy shelf company in Italy
The main reason for buying a shelf company in Italy is strongly related to the short time in which such a company can become functional. Another important aspect is that a shelf company is already registered at the local institutions and the only aspect which has to be taken care of is to transmit the legal modifications after the company was bought.
Businessmen can acquire an established ready-made company, which is a type of company which had no previous activity. At the same time, foreign investors can also purchase a shelf company which had operations in a specific field that you may be interested in, which can offer you continuity on the Italian market.
It is very important to verify all the legal aspects of the company you want to acquire, by performing audit procedures.
Although the acquisition of a ready-made company may be similar with the incorporation process of a new company, the main difference is given by the time spent with this procedure and the fact the former owner must transfer his or her shares to the new owner.
Francesco Dagnino is the founding partener at Lexia Avvocati and he is specialized in corporate law, securities regulations, investment services, asset management and regulation of financial institutions. He has an extensive expertise on mergers & acquisitions, private equity, real estate and venture capital transactions. Dagnino serves also as a vice-chairman of the Italian Shareholders' Rights Association (Associazione Italiana per l'Esercizio dei Diritti degli Azionisti - AIEDA). Contact us for details
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