Transferring Ownership Business Rome

Transferring ownership of your Rome based business

There are different types of business ownership transfers in Italy:

Entrepreneurs sell the company or a branch of it. Entrepreneurs transfer their company to an existing or new one, in return for subscription dues or shares. Entrepreneurs donate the company to others, receiving no compensation.

It is crucial to seek expert advice on the matter, since the potential value of a particular transfer must be evaluated in advance and there are complex administrative procedures for the transferring of a business that must be taken into account.

The ownership transfer between vendors and buyers must be formalized by a notary, who then delivers the contract to the Rome's Business register.
If the entrepreneur who takes over the business is a relative of the previous one, an ownership transfer declaration must be submitted to the Government agency for taxes, which is a fiscal agency providing, among other services, information and assistance to the taxpayer.
In the five years following the transfer, vendors may not start up a "competing" company.
The new owner must comply with all contracts previously drawn up. Upon registration of the transfer in the Business register, credits and debts of the company are handed over to the new owner. However, the vendor is not freed from the debts of the company transferred, unless the creditors have specifically agreed to this.

It is necessary to register licences, consumer bills, insurance and all services registered under the previous owner's name under a new name.

Various public authority bodies assist businesses by means of a single access point, providing them with specific information on how to transfer a company in each of the Italian communes.

Furthermore, the Revenue Agency provides information regarding fiscal matters. It is possible to contact the agency via telephone, email or in person.
The Chamber of Commerce of Rome provides assistance to entrepreneurs.