How a company is set up

In 2000 the check by the courts (technically called “homologation”) for the creation of new companies was abolished and consequently the notary, who is now in charge of the prior legality check, has taken over that responsibility. Since 2000, therefore, a share-capital company, which until then needed about 150 days from its formation to its effective operation can now be operational on the day of the deed, or at most in a few days. In Italy there is virtually no corporate litigation. Further emphasising the role of preventive justice entrusted to the notary in corporate matters is a recent provision of the law that provides for the immediate entry of the deeds drawn up by the notary in the company register, leaving the latter to carry out its checks after the fact.

There are various types of companies that may carry out business activities: the choice depends not only on the nature of those who want to set up the company but also the circumstances that underlie its formation. For this reason, early contact should be made with the notary, who will be able to illustrate the opportunities and consequences, in terms of risk and responsibility, that each business model entails.