We the Italians March 21, 2016 - 77 - Page 72

st # 77 MARCH 21 , 2016 or mixed forms of administration where certain actions and/or categories of actions must be undertaken jointly while the rest may be done separately (along the lines of a partnership). paid up. The simplified limited liability company (S.r.l.s.) has capital of less than EUR 10,000 and the content of the memorandum is fixed by law: this form does not, A very useful tool is that of so-called spe- therefore, allow for any flexibility in corcial rights whereby individual sharehol- porate governance. ders may be assigned special rights in the administration of the company and Joint-Stock Company (Società per aziothe distribution of profits. The minimum ni or S.p.A.) share capital of an “s.r.l.” is Euro 1. The joint-stock company (S.p.A. or SoIn an “s.r.l.” with share capital equal to or cietà per Azioni) is certainly the progreater than Euro 10,000, at the signing totype of limited liability companies and of the articles of association at least 25% is the main trading company model most of the consideration must be paid in cash suitable for large investments. (the rest of the capital can be paid up later) as well as the full amount of contri- The two key features are the limited liabutions in kind. bility of all shareholders and the division of the capital into shares. When the amount of capital is, however, set at less than €10,000, but not less The corporation is necessarily subject to than one euro, contributions may be in the supervision of the Bo &B