From unemployed to medium size with just one euro

It is the Private Capital Company, a small LLC, for the creation of which one would not have to present a capital of 18,000 euros as provided by law.

According to the bill prepared by the ministry of development that may be included in the legislative act promoted by the ministry of finance, it will be a flexible program, for the creation of which one or more players could contribute "in services" if they do not have the money.

For example, the new system enables a young person to open a company, alone or with family members and friends, with at least one of them paying at least 1 euro. This will mainly favor the creation of service-providing family firms.

In addition, the following will be included as company capital:

-       the work performed by those involved

-       the building given to the company by a third person (eg the father)

-       the guarantee provided by someone for loan agreements etc.

The liability of the company members is depleted in the capital that has accumulated.

Up until now company law focused on public limited companies (law 2190 of 1920) while the law on LLCs (law 3190 of 1955) has continued to apply unchanged for half a century.

The new company will be of capital stock (ie commercial), a notary will only be required in cases of capital property, and it will be eligible to operate in an international environment.