S.p.a.

S.r.l.

Most common business forms

Medium/ large firms listed on the stock exchange

Small and medium companies with a small number of shareholders

Minimum capital

100,000 Euro

10,000 Euro, at least 25% paid up

Management

- General meeting
- Directors
- Board of auditors (internal auditing)
- Regulatory board and independent auditing firm for listed companies

- General meeting
- Shareholders/administrators
- Board of auditors if company capital is above 100.000 euro

Liability of
partners/shareholders

- Limited liability (company commitments are backed by own assets)

- Limited liability (company commitments are backed by own assets)

Procedures

- Articles of incorporation
- Articles must be deposited in the Registry of companies
- Calling of general meeting
- Accounts and annual report

- Articles of incorporation
- Articles must be deposited in the Registry of companies
- Calling of general meeting
- Accounts and annual report