The limited liability company
The limited liability company is a type of joint-stock company.
To start up a limited liability company, a written deedregistered by a notary public is required. In addition, when the company is set up, paid up sharecapital of at least 10,000 euros is mandatory.
Together with your partners, you can also choose to pay up only 25% of the share capital, at least at an initial stage.
You can set up a limited liability company also on your own: this form is called a one-man limited liability company (srl unipersonale). Your liability remains limited to the value of your shares in the company. Nonetheless, remember that in this case the initial capital of 10,000 euros must be fully paidup from the very beginning.
Finally, do not forget that your liability becomes unlimited:
- if you do not pay up the share capital;
- if you do not follow the proper procedures in notifying the setting up of your company;
- if your company fails to regularly settle debts when due.
For further information on limited liability companies, please refer to Article 2462 of the Civil Code at this link: www.altalex.com/index.php?idnot=37058.