Business Formation

Check for Company name

Agency: Office of Economic Activities (Ufficio Attività Economiche)

A notary conducts a Company name search at the Office of Economic Activities (Ufficio Attività Economiche) to make sure there isn’t already a company registered with the same name.

Time and cost: 1 day, no charge

Register Company Act at the Register office

Agency: Ufficio del Registro e delle Ipoteche – Segreteria di Stato per le Finanze e il Bilancio

The documents (all self-certified) are provided to a notary (For legal entities): Certificate of good standing and certificate used to revoke the license.

Stamp duty of EUR 10 applies for every four pages.

A notary then prepares two copies of the company act (EUR 1000 as notary fee + EUR 50 stamp duty, based on EUR 10 for every four pages and company act being 10 pages) and submits all the documentation to the Ufficio del Registro e delle Ipoteche (Registry Office).

Time and cost: 1 day, EUR 10 (stamp duty for certificate of good standing) + EUR 10 (stamp duty for certificate used to revoke the license) + EUR 1,050 (notary fee and stamp duty for companies act) + EUR 600 (register tax) + EUR 350 (judicial tax)

Register Company at the Office of Economic Activities (Ufficio Attività Economiche)

Agency: Office of Economic Activities (Ufficio Attività Economiche)

In order to obtain the registration in the Company Registry (Registro delle Società), the notary should physically deposit both documentation and relative request at the Office for Economic Activities (Ufficio Attività Economiche). Then, the registration procedure is handled by the Office for Economic Activities itself and communicated on the online platform at www.pa.sm.

Time and cost: 5 days, EUR 70

Obtain company title certificate

Agency: Office of Economic Activities (Ufficio Attività Economiche)

The notary, or his nominee, submits a written request by fax to the Office of Economic Activities (Ufficio Attività Economiche). After two days the certificate is issued and it can be picked up at the office. This certification confirms the status of the company, highlighting the name, the date and number of registration, the corporate bodies, the corporate purpose and the powers of directors under the articles of association.

Time and cost: 2 days, EUR 50

Obtain operator code

Agency: Office of Economic Activities (Ufficio Attività Economiche)

The owner of the company needs to apply for a business license – phase 1.

The request for Economic Operator Code must be made through the online portal called OPEC: www.pa.sm. The code is released directly from the program, pursuant to art. 22 of the Law March 31, 2014 n. 40, entered into force May 30, 2014.

The procedure for the release of the Economic Operator Code consists of two steps:

Code Request:

Specifying the reason for the request (the program provides a default selection of eligible reasons), free text in which to place more specific reasons; for individuals, it is necessary to specify the object for which the license will be required.

The program checks compliance with: the subject of the practice (it cannot be an unfit person); that the company has not been put into liquidation; the applicant is the current administrator and that the company is not already in possession of an economic operator code

Confirms practice: the rescue of the file makes it permanent.

Time and cost: Less than 1 day (online procedure), no charge

Obtain business license

Agency: Office of Economic Activities (Ufficio Attività Economiche)

The owner of the company needs to apply for a business license – phase 2.

As of March 31, 2014 n. 40 (on May 30, 2014), the entrepreneur can now apply for the business license online through www.pa.sm.

It will be necessary to scan and enclose the following documents in order to request the business license:

  • A business plan indicating the activities and structure of the company (if required),
  • A copy of the lease agreement of the registered office duly registered,
  • A certificate of habitability,
  • Cadastral map of the office.

The object of the license must be: lawful, possible, determined, consistent, referring to the actual activity that is going to be in place.

Time and cost: 1 day, included in procedure 7

Pay business license tax

Agency: Ufficio del Registro e delle Ipoteche – Segreteria di Stato per le Finanze e il Bilancio

The costumer has to pay the business license tax at the Ufficio del Registro e delle Ipoteche – Segreteria di Stato per le Finanze e il Bilancio. Payment can be done in person at the office or online through www.pa.sm.

Initial license costs EUR 1,700. After the first year, license is renewed annually at cost of EUR 650 for a limited liability company.

Time and cost: 1 day, EUR 1,700