{"id":542,"date":"2022-02-25T17:58:38","date_gmt":"2022-02-25T16:58:38","guid":{"rendered":"https:\/\/adelinarossano.com\/?p=542"},"modified":"2022-02-25T17:58:38","modified_gmt":"2022-02-25T16:58:38","slug":"starting-a-business-in-italy-partnerships","status":"publish","type":"post","link":"https:\/\/www.adelinarossano.com\/en\/starting-a-business-in-italy-partnerships\/","title":{"rendered":"Starting a business in Italy: Partnerships"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">As <a href=\"https:\/\/www.adelinarossano.com\/blog\/2020\/12\/23\/how-to-start-your-business-in-italy\/\" target=\"_blank\" rel=\"noreferrer noopener\">we said some time ago<\/a>, a foreign investor planning to start a business in Italy can:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Set up a &#8220;<a href=\"https:\/\/www.adelinarossano.com\/blog\/2020\/12\/23\/how-to-start-your-business-in-italy\/\" target=\"_blank\" rel=\"noreferrer noopener\">sole proprietorship<\/a>&#8220;;<\/li><li>set up an Italian company;<\/li><li>open a branch of a foreign company;<\/li><li>open a representative office of a foreign company;<\/li><li>acquire an existing business.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">For more information regarding sole proprietorship, I invite you to read the <a href=\"https:\/\/www.adelinarossano.com\/blog\/2020\/12\/23\/how-to-start-your-business-in-italy\/\" target=\"_blank\" rel=\"noreferrer noopener\">previous article<\/a>. Today I will try to shed some light on the second point, namely the establishment of a company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Italy there are <strong>three types of companies<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Partnerships;<\/li><li>Corporations;<\/li><li>Cooperatives.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"partnerships\">Partnerships<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"characteristics\"><strong>Characteristics<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Unlimited and joint liability<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Partnerships <strong>do not have legal personality<\/strong>; therefore, their <strong>patrimonial autonomy is imperfect<\/strong>. This means that the <strong>partners are unlimitedly and jointly liable concerning the company\u2019s obligations<\/strong> (subject to some exceptions provided for by the law): in practice, in the event of debts incurred by the company, the partner is liable and this liability extends to their personal present and future assets; furthermore, creditors may demand the fulfilment of an obligation from one or all of the partners, at their own discretion.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Minimum capital not required<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">There is <strong>no minimum capital requirement <\/strong>for the establishment of a company that takes place through an <strong>authenticated private contract<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"categories\">Categories<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Partnerships can be classified into:<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\"><li><strong>Simple partnerships <\/strong>(S.s., societ\u00e0 semplice);<\/li><li><strong>General partnerships<\/strong> (S.n.c., societ\u00e0 in nome collettivo);<\/li><li><strong>Limited partnership<\/strong> (S.a.s., societ\u00e0 in accomandita semplice).<\/li><\/ol>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Simple partnerships<\/strong> can only carry out <strong>non-commercial economic activities<\/strong>, i.e., mainly agricultural activities. They inherit the aforementioned characteristics as regards the modalities of incorporation and the liability of the partners and are <strong>not subject to bankruptcy<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>General partnerships <\/strong>differ from the previous ones by:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>the need to include the name of at least one of the partners within the company name and the reference to the status of S.n.c.;<\/li><li>be subject to bankruptcy (which also affects all partners).<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Limited partnerships<\/strong> are slightly more complex.<br>Partners are divided into two categories: <strong>general partners<\/strong> and<strong> limited partners<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>general partners administer and manage the company<\/strong> <strong>and are unlimitedly and jointly liable <\/strong>for the fulfilment of the company\u2019s obligations; <strong>limited partners cannot administer or manage the company <\/strong>and <strong>are liable <\/strong>for the company&#8217;s obligations <strong>only up to the amount of the contributed capital.<\/strong> This means that their personal assets will not be affected in the event of default.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As for general partnerships, also in this case the company name must contain the name of one of the general partners and the wording S.a.s.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">For more information visit<a href=\"https:\/\/www.pmi.it\/ economy\/lavoro\/approfondimenti\/102238\/apendere-societa-tipologie-differenze.html\" target=\"_blank\" rel=\"noreferrer noopener\"> this website page.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we said some time ago, a foreign investor planning to start a business in Italy can: Set up a &#8220;sole proprietorship&#8220;; set up an Italian company; open a branch of a foreign company; open a representative office of a foreign company; acquire an existing business. For more information regarding sole proprietorship, I invite you [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[19,22],"tags":[],"class_list":["post-542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-expand-your-business-abroad","category-internationalization"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Starting a business in Italy: Partnerships &#183; Adelina Rossano<\/title>\n<meta name=\"description\" content=\"Starting a business in italy through simple, general or limited partnerships.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.adelinarossano.com\/en\/starting-a-business-in-italy-partnerships\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starting a business in Italy: Partnerships &#183; 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