Businessmen operating on the Italian market should know that they are allowed to sell shares of their companies, but only by following a certain legal procedure. The shares are sold through a transfer, which has to be performed under the assistance of a public notary in Italy. Moreover, it is necessary that the parties be present in person when performing this action. However, it is important to know that other methods which are less restrictive are also available here. Our team of Italian lawyers can assist businessmen interested to sell their shares throughout the entire procedure and they can also offer legal advice, if it may be the case.
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Selling shares though a public notary in Italy
As a general rule, the Italian legislation prescribes that this procedure should be performed at a public notary, by signing an official document attesting the completion of the procedure. The public notaries in Italy have fixed and variable costs (established in accordance with the value of the transaction) and this procedure is rather recommended for larger transfers; our team of Italian lawyers can offer more details about the procedure.
Selling shares through chartered accountants in Italy
When signing a contract in Italy for the selling of company’s shares, the shareholders should know that they can also appeal to a more modern procedure, which is applicable in this country since 2008.
The procedure is handled through chartered accountants or chartered secretaries and it still involves the signing of a contract, but the main difference is that the document can be sent as a PDF file of the original document. However, the original document must also be included at some point during the procedure.
The main advantage of the procedure is that it involves more flexibility, as it can be performed though an electronic signature, while the deal between the parties can be completed through an online conference.
Businessmen interested in receiving further details on how to sell shares of an Italian company can address to our law firm in Italy for legal advice on the available procedures.