All vehicles need to undergo periodical inspections and repair work, this is why opening an automobile service or repair shop can be a lucrative business idea for entrepreneurs. Previous experience in the field as a mechanic is not required, however, some former employees will choose to start their own business.
Investors can open a business for the maintenance and repair of motor vehicles in Italy and provide a number of services to a wide array of clients that own different types of vehicles, including cars, trucks or motorcycles.
Our team of agents who specialize in company formation in Italy can guide investors who wish to open this type of business. One of our dedicated specialists will be able to advise you on every step of the process, starting with choosing the business form and ending with registering for taxes and obtaining any needed permits or licenses.
Do you have questions about how to start this type of business? We answer some of these below, including the most common questions asked by those who want to open a company in Italy.
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What are the services offered by a business for maintenance and repair of motor vehicles?
An automobile service shop is one that provides repair and maintenance services offered by mechanics and technicians. It is common for the services to be offered on all makes and models and to be provided for a number of types of vehicles, mainly automobiles but also motorcycles or trucks. The auto repair needs will depend on the vehicle model and may include oil changes as well as alignments, tire changes, and others. Investors who open a company in Italy can offer the following services:
- • Inspection: routine checks, as well as factory, recommended inspections can be performed in a service and repair shop;
- • Diagnostic: services related to using software to determine the service requirements for a certain model.
- • Repairs: various repair work, we needed; can include work to the brakes, the air system, the chassis of the car and other parts.
- • Parts change: replaceable auto parts can be changed with new ones, as needed for the vehicle.
- • Paint jobs: in some cases, the shop will also provide paint services, self-adhesive stickers, or reflective materials.
Of course, these are only some of the services that can be offered. The motor vehicle maintenance and repair shop can also be an authorized dealer for certain car part manufacturers of other products such as motor oil.
Entrepreneurs who wish to open a company in Italy can consider the types of services they will provide in their car services during the initial business planning phase. They can then draw up the incorporation budget based on the equipment they will need for the shop as well as the space they will need to purchase or rent in order to base the shop.
Our accountants in Italy provide you with a series of services for your company. Thus, you can request payroll services, bookkeeping, audits, human resources administration, and support for the preparation and submission of annual financial statements. also, if you are interested in a loan for your business, you can contact us to receive the necessary support in this endeavor.
Company formation in Italy
The process of company incorporation in Italy is one that includes a few key steps and can be easily handled by investors. Foreign entrepreneurs can request the specialized services offered by our team if they do not speak the language and/or if they cannot be present in the country during the entire company formation phase.
The following steps are needed to open a private limited liability company (S.R.L.):
- Choose a company name: it is important to verify the chosen name and have an alternative in case the first option is already taken;
- Prepare the documents: the Articles of Association are the constitutive documents of the company.
- Prepare the minimum share capital: for the S.R.L. this capital is only 1 euro, however, it can be greater as chosen by the investors.
- Register: the company needs to be registered with the Companies Register.
- Others: open a bank account and register for tax purposes with the corresponding authorities.
A company in Italy, including those in the motor vehicle repair and maintenance sector, will need to keep records of accounts and books. The accounting documents are to be kept for at least ten years. Investors who open a company in Italy and wish to know more about the ongoing requirements can reach out to our specialized agents.
Foreign direct investments are an important part of the country’s economy. The following statistics provide some insight:
- – in 2018 the value of the capital investment as a percent of the country’s GDP was 17.95%;
- – in 2017, the same percentage of FDI as part of the GDP was 17.62%;
- – the value of capital investments in 2018 was 371.34 billion USD.
Contact our agents who specialize in company registration in Italy for complete assistance when starting a business for the maintenance and repair of motor vehicles.