Italian notariat supports young entrepreneurs

posted in: National news

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The Italian notariat and the LUISS Guido Carli University in Rome have jointly developed, a website dedicated to providing young entrepreneurs with all the tools and information they need to turn their ideas into reality.

Every day arancia publishes interviews, opinion pieces, original points of view, answers to frequently asked questions, information on calls for proposals, study grants and financing opportunities, and in-depth articles by LUISS teaching staff.

This initiative from the Italian notariat comes in the context of the recent reforms to the country’s company law, particularly the introduction of simplified limited liability companies (Srlrs), which are only for persons under the age of 35. To set up this kind of company, a minimum capital of EUR 1 is needed, and capital cannot exceed EUR 10,000. As of 31 December 2012, 2,941 simplified LLCs had been created. With the approval of the Italian government, notaries are working alongside young people in this initiative by offering their services relating to the standard model for free and carrying out the necessary legal checks.

Another development in the area of company law has been the creation of reduced capital LLCs, which similarly require a minimum capital of just EUR 1 but are also available to those over 35 years of age.  1,221 reduced capital LLCs had been set up by 31 December 2012, six months after the entry into force of the law.

Through the website the Italian notariat is assisting future company directors by providing them with its expertise in the form of documents which are trustworthy, up-to-date and immediately available online. In addition to extensive documentation and an area for asking questions, which will be answered by a group of notaries, the site also allows users to find their nearest notary so they can start their company under the guidance of an expert.

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