The two most common types of companies are the joint stock company (società per azioni) and limited liability (società a responsabilità limitata).
A thorough reform of Italian business law in early 2003 amended and supplemented portions of the Italian Civil Code (ICC) and modified Italy's Unified Rules on financial intermediation (Law 58/1998, known as the 'TUF') which now include specific provisions for listed companies.
The TUF has been significantly amended by means of law no. 262 dated December 28, 2005 which provides rules aimed to safeguard savings.
Other types of companies include:
General partnerships (società in nome collettivo)
All members are jointly and severally liable for the obligations assumed by the company. Nonetheless, creditors cannot claim payments from the members until after all remedies against the SNC have been exhausted.Although not a legal person (as it is not incorporated), the SNC, can to a certain extent be considered an autonomous entity distinct from its members.
Limited partnerships (società in accomandita semplice) both having unlimited liability for the partners. General members are jointly and severally liable without limits for the obligations of the partnership whilst silent partners are only liable to the extent of their contributions.
Partnership limited by shares (società in accomandita per azioni)
There are two categories of members: general partners, who are liable jointly and severally liable without limitation for the partnership obligations, and special partners who are liable within the limit of subscribed capital. Creditors of the SAPA cannot claim payments from the general partners until after all remedies against the company have been exhausted. Participations are represented by shares. General partners are directors by operation of law and are subject to the same duties as the directors of an S.p.A.. Rules concerning the Shareholder Meeting and the Board of Statutory Auditors of the S.p.A. are also applicable, to the extent compatible, to the SAPA.
Source:Invest in Italy by the National agency for inward investment and enterprise development & ICE
For people working from home as sole decision taker, the individual enterprise may be the best solution. This kind of enterprise is very easy to set up.
