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General Partnership (società in nome collettivo)

The general partnership is the appropriate legal form for those who want to start a business with one or more partners without having to pay a minimum share capital. 

 

Main purpose: Suitable for small businesses with more than one partner, and with a strong personal connotation (Paint shop, small IT companies, etc.). It can be formed by natural persons.
Requirements: No minimum share capital is required.
Number of persons: At least two individuals
Advantages:
  • No minimum capital
  • Little regulation
  • Low costs
Disadvantages:
  • Joint and several liability of members
  • No chance to participate