Italy: Operating a Business

Società a responsabilita limitata (SRL): Limited Liability Company

Number of partners: Minimum 1 shareholder.
Capital (max/min): No minimum but some constraints if the capital is less than EUR 10,000.
Shareholders and liability: Liability is limited to the amount of capital contributed.

Società per azioni (SpA): Public Limited Company

Number of partners: There are no limitations on the number of partners.
Capital (max/min): Minimum of EUR 50,000, of which 25% has to be paid-up.
Shareholders and liability: Liability is limited to the amount of capital contributed.

Società in nome Collettivo (SNC): General Partnership

Number of partners: Minimum 2 partners, no maximum.
Capital (max/min): No minimum capital requirement.
Shareholders and liability: Liability is joint and indefinite.

Società in Accomandita Semplice (SAS): Limited Joint-Stock Partnership

Number of partners: Minimum 2 partners, no maximum.

There are two types of partners, the active partners and the silent partners.
Capital (max/min): No minimum capital requirement.
Shareholders and liability: Liability of the active partners is unlimited.

Società Cooperativa (SC): Cooperative Society

Number of partners: Minimum 3 partners, no maximum.
9 partners if one of them is a legal entity.
Capital (max/min): Minimum EUR 25 per partner
Shareholders and liability: Liability is limited or unlimited according to the Articles of Association.

Business Setup Procedures

The Competent Organisation

Administrative procedures must be analyzed by a legal affairs office of the Ministry of Justice.

The activity of the company is subject to abilitazioni (certificate of professional aptitude), to autorizzazioni o licenze (licenses) and to the denuncia di inizio attività (declaration of beginning of activity).

For Further Information

Consult Doing Business Website, to know about procedures to start a Business in Italy
Infocamere

Financial Information Directories

Dun & Bradstreet - Worldwide directory with financial information on businesses

Registro Imprese - Companies search engine

Recovery Procedures

Principle

It depends on the type of company.
The Tribunal appoints a single judge for the bankrupt company, whereas more may be appointed for the creditors. The assets of the bankrupt company must be distinct according to the share of each of the members. After five years, the bankrupt company may be re-formed.
For further information, click here.

For Further Statistics

Ministry of Labour

For Further Information About the Labour Market

National Agency for Investment Development

Opening Hours

 

• Legal Weekly Duration

40 hours

• Maximum Duration

10 hours a day and 52 hours a week.

• Night Hours

From 10 pm to 5 am.

Working Rest Day

One or two days a week.

Paid Annual Vacation

The minimum is one week a year; but it depends on the type of contract and responsibilities.

Retirement Age

65, with a minimum of 25 years' contribution

Child Labour and Minimum Age For Employment

15

Informal Labour Market

Undeclared work is increasing. In 2007, a rise of 44% was registered from 2006's figures. The unofficial economy in Italy represents 14 million EUR and about 2,951 irregular workers.

Pay

Minimum Wage

There is not a statutory minimum wage. Yet most Italian workers (nearly 80%) are actually covered by a minimum wage agreement, established through sectoral collective bargaining.

Average Wage

Average annual wage: USD 37,769 (source: OECD, 2020 - latest available data).

Social Security Costs

The Areas Covered

Old age, disability and survivors, sickness and maternity, work injury for qualifying professions, unemployment and family benefits.

Contributions

Contributions Paid By the Employer: Generally speaking, contributions are subject to variations depending on the professional branch, the risks, the number of employees and their professional qualifications. Employer’s charge is around 30%. Around 33% of the total rate is paid into the National Pension Fund, and the remainder is paid to the unemployment, sickness, maternity, social mobility and other funds (PwC).
Contributions Paid By the Employee: Employees’s charge is around 10% and destinated for disability, old age and surviving spouses. Self-employed individuals are taxed at 25.98%. Additional voluntary and variable contributions are also allowed (PwC).

Competent Organization

Istituto Nazionale della Previdenza Sociale (INPS) - Italian National Social Security Institute

Recruitment

Method of Recruitment

More and more, recruitment is being carried out via the Internet. If their CV is selected, candidates are invited for interviews with the management of the company concerned.

Recruitment Agencies

There are public or private recruitment agencies. Recruitment can be carried out via their services or directly by the company concerned.

Recruitment Websites

Indeed
Lavoro e Carriere

The Contract

Social Partners

Employer Associations

CONFINDUSTRIA - General Confederation of Italian Industries
CONFAPI - Italian Confederation of SMEs

Unionisation Rate

Between 70 and 79%

Labour Unions

Unione Italiana del Lavoro (UIL)
Confederazione Generale Italiana del Lavoro (CGIL)
Confederazione Italiana Sindacati dei Lavoratori (CISL)