YIKES!! Start up a Startup with (Almost) No Capital and No Notaio

The IC Pressroom website reposted an article from the Italian newspaper Il Sole 24 Ore (13 January 2012) about the proposed “liberalization” of the Italian market and its effect on startup incorpo...

The IC Pressroom website reposted an article from the Italian newspaper Il Sole 24 Ore (13 January 2012) about the proposed “liberalization” of the Italian market and its effect on startup incorporation requirements. Essentially, for companies incorporated by someone under 35, there is a need for nominal initial capital of 1 Euro and no need for a notaio.

[Italian Summary] Prove di società semplificata a responsabilità limitata senza l’intervento del notaio. Nelle bozze di decreto sulle liberalizzazioni, questa nuova forma societaria sarebbe riservata alle persone fisiche che alla data della costituzione non abbiano compiuto i 35 anni. La società può essere costituita con una comunicazione in via telematica al Registro delle imprese.

You can find the site at this link.

If you are reading various blogs and Facebook pages on Italian startups (and who isn’t?) then you have seen the potentially great news arising from liberalization–namely, that startups launched by people under 35 can essentially bypass the regulations that many consider Byzantine and expensive.

As the proposal stands now (mid-January)–and assuming that my Italian is a little better–it means, for example, that initial capital can be as little as 1 Euro. More to the point, it LOOKS like the startup does not have to part with thousands of Euros normally required for the services of a notaio. There are other requirements, so it is worth clicking the link above.

The age discrimination is inherently unfair. There are many startups here founded by people over 35. Better that the option be available to companies with turnover below, say, x. However, this is a start.

If this is true, then it could provide quite a boost to startups. They can save those thousands of Euros normally put into initial (and presumably unavailable) capital and into the hands of notaio (who are generally excellent professionals). Instead, they can, say, hire another developer or lauch a new marketing campaign.

As long as the startups don’t stop offering coffee when I visit, then I’ll be happy with these changes. No, I’ll be thrilled.

If you would like to be guest blogger or have your startup showcased here, then please email me.

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