Insights

It is now possible in Italy to establish a limited liability company (either ordinary or simplified) through an on-line procedure by using only digital tools without physical attendance before a notary public. Under the new rules (Legislative Decree 183/2021 on the use of digital tools in company law matters), notarized - and, in some cases, apostilled or legalised - powers of attorney are no longer required, thus allowing a simplified establishment process and a time and cost reduction. To this end the National Council of Notaries has set up and manages an IT platform to which the parties involved may access with their own devices, and which allows them to easily operate remotely through electronic identity document and digital signature, without territorial constraints. In addition, standard incorporation deeds will be available – both in Italian and English - from the Ministry of Economic Development and will be published on the website of each Chamber of Commerce.

Although the new procedure is currently applicable only to limited liability companies set-up by means of contributions in cash (paid in advance into a dedicated current account) - thus excluding limited liability companies set-up with contributions in kind and, in any event, joint-stock companies -, it is definitely a momentous change that meets the specific needs of foreign companies, offering a cost-efficient tool for the establishment of headquaters in Italy.