Srl stands for Società e Responsabilità Limitata and is the equivalent of a limited company in the UK or Ireland.
The main advantage associated with an srl is that it provides limited liability to shareholders, as opposed to partnerships where partners are typically fully liable liable without limit.
An srl tends to be a more flexible type of business, permitting more variations in how the company is structured. As a result of this greater flexibility, it is more complex than a partnership, particularly as it needs to keep ordinary accounts and company books such as shareholders meetings book, bod meetings book and shareholders book.
In order to set up an srl company in Italy you need to incorporate it through a public deed executed before a notary. The cost of the notary varies from notary to notary and depends on how much share capital the company has. The minimum capital is 10.000 Euros (there is a simplified type that only needs 1 Euro of capital to set-up but it is in general not a good option). As an example, the last srl that we incorporated with 10k capital cost about 3.000 for the notary.
Then there is the accountant’s fee to prepare the draft of the company bye-laws that can range from 1300 euros to 3500 depending on the type of activity and the needs of the owners setting-up the business.
There are also fixed annual costs:
Chamber of commerce annual fee of about 200 Euros
Company books annual tax 309 or 519 Euros depending on the capital of the company
Filing the balance sheet to the company registrar 130 Euros
Changes of directors, giving them proxies or making other changes, attracts a company registrar tax of around 160 euros.
Testimonials for our Business Licence Application service
Bryan Wilson, Mallorca
Rosa has been an absolute Godsend and without her I would have struggled to set up my Mallorcan company.
She has always delivered with any project that I have instructed her services on and I would highly recommend her.
Apr 03, 2019
Andrea Omahony, Murcia
Inma was fabulous. She was extremely professional and she answered any questions efficiently and accurately.
Apr 01, 2019
My contact in Italy, Ilaria, was SO helpful and responsive. 100%recommend
Jan 04, 2019
Nick Nicolaou, Oviedo
Very Satisfied with Miguel's work. He was very helpful and we would definitely use his services again in the future.
Feb 20, 2018
Gavin Jones, UK
It was a real pleasure to have Miguel working on my behalf to file my non-resident taxes. He was extremely helpful, gave reassuring advice and I had a high level of confidence in the transactions.
Miguel is now acting as my fiscal representative in Spain and I plan to continue to use his firm's services for all my tax requirements.
Feb 19, 2018
Alan Villarreal, Banyoles
Very satisfied with Anna's work. She is bilingual and was extremely helpful. Will definitely use her services in the future.
Dec 15, 2017
Anthony Bennett, Barcelona
Anna provided the best possible solution for me in my situation, and helped out as much as she possibly could.
I would recommend her services to anybody seeking legal or financial advice.
Oct 19, 2017
Robert Toth, Ireland
Anna was very, very helpful, always happy to assist and also approachable and professional.
I was very satisfied with the legal services.
Feb 09, 2017
We used Rossana’s services multiple times after the first contact. She is always there when we need support, even for things that are not directly related with the services she was in charge of.
Her charges are always very reasonable.
Dec 06, 2016
All tax returns are handled online, so I don't need to go anywhere to accomplish my tax obligations in Spain. Although the service is provided mainly by internet, Jaime met me when necessary, and I can always contact quickly him or his team by phone, email, skype and even whatsapp.
Jaime and his team have been really helpful during the setting-up process of my business.
Jan 15, 2015
Since I am a foreigner, I can’t speak Spainish. My law firm provided me two lawyers – one speaks English very well and the other one is the expert in my case.
They answered me very quickly, and handle my case in a very efficient way. Cannot find a better lawyer in Tarragona.