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insolvency proceedings (except for the composition of the over-indebtedness crisis). Furthermore, by way of derogation from the general corporate law, the following advantages are extended to startup structured in the form of S.r.l.: - Shareholdings: It is possible to provide for categories of shareholdings with additional rights for the member, also derogating from the principle of proportionality, including categories of shareholdings with limited voting rights, excluded or subject to particular conditions. - Public offers: shareholdings may be offered to the public in the form of financial products, including through the use of online fundraising portals. - Operations on participations: the related prohibition does not apply, provided that the transaction is conducted for the purpose of incentive plans involving the assignment of shareholdings to employees, directors, service providers - including professional ones. - Financial instruments: it is possible to issue financial instruments bearing equity or administrative rights (excluding voting rights) following services by the members or third parties (including professional consultants). Additional advantages are provided for tax and contribution purposes, in favor of the company and other individuals involved in the startup: - For the Company: exemption from paying stamp duty, the costs of registration to the Corporate Register and the annual right to the Chamber of Commerce; tax credit for the hiring of highly qualified staff. - For directors, employees, and associates: under certain conditions, employee’s
income arising from the assignment of participating financial instruments is exempted from direct taxes and contribution duties. - For external employees or consultants: incomes from the assignment of financial instruments issued in relation to work or services provided – even of a professional nature – are not included in the taxable income. - For investors: natural persons or companies who invest in the startup’s capital will benefit from an IRPEF deduction or a deduction from the taxable income of the IRES.
ILN Corporate Group – Establishing a Business Entity Series
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