A foreign company wishing to carry out film production activities in Italy has the following options:
- to establish a company in Italy (representative office, branch, or corporation)
- to enter into a co-production agreement with a production company already established in Italy
- to use the services of an Italian production services company
1) Setting up a Company in Italy:
a)
Representative Office & Branch (Ufficio di Rappresentanza & Filiale)
Foreign companies intending to establish a
representative office must comply with certain formalities of local Company Registries.
The following information should be filed: corporate details of the representative office, personal details of the individual(s) accountable for the representative office together with the responsible Company Registry. Failing to comply, the individual(s) accountable for the representative office will be personally liable, without limitation, for the office’s obligations.
Foreign investors not intending to incorporate an Italian subsidiary may conduct their business in Italy through a
branch office. It is considered as a permanent establishment and is consequently subject to corporate income tax and must keep proper books and file its VAT returns as well as the annual financing statement of the parent company including profit and loss accounts.
b)
Limited Liability Company (Società a responsabilità limitata SRL)
A SRL is formed by a small number of partners who participate in the company’s activities on a continued basis. It can be established with a minimum capital of €10,000 (no maximum ceiling). Quotas represent the extent of member participation. The SRL is accountable with its own assets for the obligations it undertakes. The SRL can have an unlimited duration. Contributions can include money and, depending on the articles of association, any items of economic value, including services supplied by quota holders, if adequately guaranteed.
Upon formation, each quota holder shall pay in a quarter of his/her financial contribution and the full premium.
The articles of association and the bylaws shall be presented in the form of notarial deeds.
c)
Joint Stock Company (Società per Azioni SpA)
A S.p.A is the type of company established by large size enterprises willing to invest substantial capital and to take high risks. The minimum capital required to set up an S.p.A. company is €120,000; an S.p.A has an autonomous legal standing and is therefore a separate entity from its shareholders. It has its own assets and resources, on which its creditors must rely completely for redress. The participation of stockholders is represented by shares of stock.
One may establish an S.p.A. either by executing a contract or by the unilateral act of a single shareholder. An S.p.A. can also participate in partnerships (provided they are not informal partnerships) or with other S.p.A.s. There is no limit on the company’s lifetime.
2) International Co-Productions
Through an international co-production agreement, the Italian co-producer will be responsible for all formalities and contracts with partners, suppliers and employees of the part of the film to be shot in Italy.
Italy has co-production agreements with over 40 countries. Under certain conditions, co-production could benefit from financial support created and run by the Direzione Generale del Cinema and/or by some regional film commissions.
This financial support would be granted to the Italian production company, with the foreign co-producing counterpart requesting and possibly receiving financial support from its own country.
3) Production Service Companies
Through a Production Service Agreement, the Italian Production Service Company produces, on behalf and under the control of the Foreign Production Company, the part of the shooting which takes place in Italy.
The “Produzione Esecutiva” (as it is called in Italy) is regulated by a contract where the two companies establish which services have to be supplied and deal the general conditions. Through the agreement, the Production Service Company is able to employ the required crew on behalf of the foreign production company.
A production service company can also provide to a foreign production company a full array of services such as budgeting and scheduling, finding locations and crew, organizing casting, technical support, legal and fiscal representation, and all the needs that a production might have when shooting in Italy.
A list of production services companies is available on the directory section of this guide.
Contacts
American Chamber of Commerce in Italy
L’American Chamber of Commerce in Italy (AmCham) is a private, not-for-profit organization that represents the interests of companies that have, or that are interested in establishing business and commercial relations between the United States and Italy. The AmCham is affiliated with the Chamber of Commerce in Washington DC and it is part of the European Council of American Chambers of Commerce.
American Chamber of Commerce in Italy
Via Cantù 1 20123 Milan, Italy
Tel. +39 02 8690661
Fax +39 02 8057737
amcham@amcham.it
info@amcham.it
www.amcham.it
Embassy of the United States in Italy
via Vittorio Veneto, 119/A
00187 Roma, Italy
Tel. +39 0646741 (switchboard)
Fax +39 0646742356
www.rome.usembassy.gov/english/
Ministero per i Beni e le Attività Culturali
Direzione Generale Cinema
(Ministry of Culture - Film Division)
P.zza Santa Croce in Gerusalemme, 9/A
00185 – Roma, Italy
Tel. +39 0667231
www.cinema.beniculturali.it/
(for a list of countries with whom Italy has a Co-Production agreement)
APE
Italian Association of Production Service Companies
C/o Cinecittà Studios
Via Tuscolana, 1055
Roma 00173, Italy
Tel./Fax +39 0672293567
info@ape-italy.com
www.ape-italy.com
A full list of Production Service Companies can be found in the Directory
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