Documentation, timing and costs for opening an LLC

THEopening of an SRLS it is among the simplest in the Italian tax landscape. As with any other company, however, you need to know everything there is to do. Here is a small guide on the required documentation, thanks also to contribution from the Italian Accounting Service, the times and initial and annual costs to open the simplified LLC.

Why choose SRLS

La Simplified Limited Liability Company has existed since 2013 and it is a formula increasingly requested by those who want to open their own business. Initially aimed only at under 35s, due to the ideal conditions for opening, today it can be chosen by everyone, in particular by those who do not have sufficient capital to start. Among the various advantages, we remember:

 

• Low startup costs
• Symbolic social capital
• Reduced opening times
• As with LLCs, members do not risk their personal assets in the event of difficulty

 

It is also possible to transform the SRLS into an LLC if you want to make the switch.

Documents to prepare

From a documentation point of view, the SRLS follows a very simple path. The main document is obviously the articles of association, which unlike the SRL is standard and does not require modifications, except with regard to:

 

• The company name (which must necessarily include the wording SRLS)
• The complete data of each member
• The headquarters of the company
• The social capital
• The type of activity chosen
• The administrators
• The place and date of signing

 

Photocopies of the identification documents and tax codes of the natural persons involved must also be prepared at the same time. Furthermore, since the contribution is required to be paid in full to the administrative body, it is mandatory to prepare a declaration from the shareholders, which acknowledges the payment.

 

We remind you that the notary is not mandatory, but is always recommended. Furthermore, you do not pay anything: the notary only has to check that everything is in order and deposit the deed of incorporation at the Company Registry Office using the ComUnica software. However, it is always advisable to entrust the entire procedure to your trusted accountant who will then follow the company throughout its tax process.

Timing for SRLS opening

To open an SRLS you must calculate a timeframe of approximately 20 working days from the time the relevant application is sent to the Revenue Agency. In a few weeks, therefore, your company can be ready to start.

SRLS opening costs

If you decide to open an LLC, the first thing to know is that in the beginning you will spend about half of what you need to pay for the LLC. We are therefore talking about Initial 700-800 euros which will then clearly be followed by the annual fixed costs.

 

The great advantage present at the opening of the SRLS is certainly the minimum capital, That is between 1 euro and a maximum of 9.999 euros, unlike that of at least 10.000 euros of the normal LLC. As we have already mentioned, there are not even any notary fees, a detail that makes this corporate formula truly convenient.

 

Here is the list of costs necessary to open the SRLS:

 

• 200 euros for the registration tax used for the articles of association
• 100 euros for the Chamber of Commerce fee
• 309,87 euros for the annual endorsement fee of the company books
• Approximately 100 euros for the purchase, endorsement and stamping of the mandatory social books

 

The capital must be paid at the time of opening the SRLS, furthermore there are no contributions in kind, of works or properties or other goods or services. Contributions must therefore be made by all members exclusively in cash.

And after the opening?

 

Before starting, we recommend that you calculate the budget to be allocated for at least the first two years of activity of your SRLS. In this regard, the management is practically identical to that of the LLC, because the great benefits are in the openness. The same goes for corporate obligations: both types of companies respond with their assets and not with the personal assets of the members.

 

As for annual costs, don't forget:

• 200 euro annual Chamber of Commerce fee
• 309,87 euros government concession fee for the endorsement of company books
• 127,60 euros for the deposit of the balance sheet
• The accountant's share
• Taxes (IRES, IRAP) and local taxes
• INPS contributions, which amount to at least 3.500 euros

 

Considering that the taxes are variable, because they depend on the turnover of the SRLS, among the other expenses to think about carefully is that relating to the accountant.

 

Our advice is to evaluate different offers, especially regarding online studies and with a fixed price list.

 

For more information on opening an SRLS, we recommend the following link: https://www.tasse-fisco.com/societa/srl-semplificata-apertura-giovani-costituzione-capitale-requisiti-cosa-come/10454/ .