Setting up of a Branch in Italy:

Procedure for opening a permanent trade branch in Italy (representative office):

1. A resolution is adopted by the board of directors or other appropriate competent body of the parent company with power to open branch offices abroad, specifying:
   • the company’s request to open a branch office in Italy;
   • the address of the branch office (if there are no branch premises at the time of the resolution; a temporary address can be indicated, which must be changed later by a further resolution);
   • the name, date of birth, citizenship and residency of the person or persons who will manage the branch and the powers conferred;
   • the funds to be made available to the branch office.
2. The deed of incorporation and the by-laws of the parent company and the resolution are deposited with a sworn translation of the same at the Company Registry Office.
3. The acceptance of office and the signature of the person appointed as director of the branch office must also be deposited in an authenticated copy with the Company Registry Office (with legalization by apostil if authenticated outside Italy). The director of the branch need not be an Italian citizen.
4. The funds for the constitution of the branch office can be freely transferred to Italy, to an account which will be opened in the name of the branch office.