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Selling on - Italy

Updated 07/2011

Legal requirements

If a business ceases to be viable, transferring ownership may be a better option than simply closing it down.

Types of business transfer

There are different types of business ownership transfer in Italy:

  • the owner sells the business or its branch;               
  • the owner transfers the business to an existing or new one in return for subscription dues or shares;               
  • the owner simply donates the business to a third party.             

In the five years following the transfer, vendors are not permitted to start up a 'rival' business. The new owner must comply with all existing contracts. The business's loans and debts are transferred to the new owner. However, the vendor is not freed from the debts of a transferred business unless the creditors have specifically agreed to this.

Taking over an existing company is a worthwhile alternative to setting up a new business.

Administrative procedures

Formalities for transferring the ownership of a business are similar to those for setting up a new one.

Business transfer procedures

Transfers of ownership between vendors and buyers must be formalised by a notary, who then enters the arrangement in the Business Register.

All licences, bills, insurance policies and services must be re-registered in the new owner's name.

Resources

A single access point provides businesses with specific information on how to transfer a business locally.

  • Impresa.gov - public authority for businesses italiano

Check also the legislation on this topic in:

  • References

    Legal texts

    • Civil Code (Articles 2555 - 2560) italiano
    • Law No 310 of 12 August 1993 (Official journal No 195 of 20 August 1993) - Rules on transparency in company takeovers and the establishment of the membership base of corporations, as well as with transfers of retail businesses and transfers of land ownership pdf [71 KB] italiano
    • Law No 52 of 21 February 1991 (Official journal no. 47 of 25 February 1991) - Regulation of transfers of company credit italiano

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Further help

The Chamber of Commerce provides all aspiring entrepreneurs and new businesses with guidance, information, training, consultancy and assistance.

Italy's revenue agency provides tax information.