A company is created at the notary. They request the name of the company, whether a limited company or a corporation is made. The registration in the Central Trade Registry office and the application to obtain VAT identification number (company) is also performed. The cost can vary between 300 and 1000 Euros, depending on the activity of the company. This cost is divided between notary fees, trade registration and tax registration. In addition to incorporating the activity that the company is going to perform, you have to show a bank statement that the company has 3,000 Euros (for a limited company) or 60,000 Euros (for a corporation). The whole process takes about ten days. Once we have the company registered, the registration is done in the Tax Office with the model 036 or 037 and then registered at the special scheme for self-employed.

After going to the town hall to get a certificate that allows us to do all the paperwork through internet (it is free of taxes and instantly obtained), the worker registers in the Tax Agency using the model 036 or 037 and 24 hours later, registered in the Social Security as self-employed.

Any self-employed person or company must make a monthly payment of between 250 to 300 Euros to the Social Security, besides presenting every three months a statement of the income (modelo130) and another for the VAT (model 303). They must be submitted even if the company or the self-employed person are not making any profit, because if this is not done, there is a fine of 150 Euros for each non submitted declaration. VAT is currently taxed at 21% and income tax is taxed at 20% of the profits.

Company creation

A company is created at the notary. They request the name of the company, whether a limited company or a corporation is made. The registration in the Central Trade Registry office and the application to obtain VAT identification number (company) is also performed. The cost can vary between 300 and 1000 Euros, depending on the activity of the company. This cost is divided between notary fees, trade registration and tax registration. In addition to incorporating the activity that the company is going to perform, you have to show a bank statement that the company has 3,000 Euros (for a limited company) or 60,000 Euros (for a corporation). The whole process takes about ten days. Once we have the company registered, the registration is done in the Tax Office with the model 036 or 037 and then registered at the special scheme for self-employed.

Self-employment registration

After going to the town hall to get a certificate that allows us to do all the paperwork through internet (it is free of taxes and instantly obtained), the worker registers in the Tax Agency using the model 036 or 037 and 24 hours later, registered in the Social Security as self-employed.

Bookkeeping and tax declarations

Any self-employed person or company must make a monthly payment of between 250 to 300 Euros to the Social Security, besides presenting every three months a statement of the income (modelo130) and another for the VAT (model 303). They must be submitted even if the company or the self-employed person are not making any profit, because if this is not done, there is a fine of 150 Euros for each non submitted declaration. VAT is currently taxed at 21% and income tax is taxed at 20% of the profits.