The maintenance and repair of ships and boats is a mandatory activity for ship-owners, whether they are private owners or commercial companies that need to upkeep a fleet of ships. Investors who set up a business for the repair and maintenance of ships and boats in Italy can provide services to both corporate and private clients and expand their services in such a way that they may cover the maintenance and repair for several types of ships, as well as the preparation for going to sea and handling regattas.
The commercial and the agreement use of ships in Italy is extensive because the country has a large number of cruise and commercial ports and it includes some of the most popular cruise destinations in Italy. Entrepreneurs who open this type of business are at an advantage because of the large number of ports. They can find the space needed for their business, that can also include the dry-docking of ships, near one of the active ports. Here, depending on the type of maritime traffic, they can adjust the types of services they offer.
Our team of company formation agents in Italy is ready to answer any questions about the setup process for this type of business and, depending on the actual services provided, the needed permits and licenses to run the company.
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Types of services
Businesses that offer services related to the repair and maintenance of ships can be engaged in a number of activities, according to the type of vessels they offer services for and the regularly technological maintenance works scheduled by the manufacturer.
Examples of maintenance works include the following:
- – vessel washing;
- – sails inspection, ventilation, and cleaning;
- – deck cover, rigging, spars, stoppers maintenance;
- – interior space ventilation;
- – plumbing maintenance;
- – seasonal inspection for the engines, the transmission, and gearboxes;
- – steering system maintenance;
- – vessel bottom, hull and keel maintenance, polishing and replacement of coatings;
- – electrical circuits maintenance, etc.
The repair work can refer to the following:
- – hull works;
- – plumbing works and furniture fittings;
- – fuel and gas system repair;
- – steering repair;
- – electronic repair work, as needed.
Companies that provide these services need to have adequate equipment as well as the storing space as needed to deposit the client’s equipment or sails.
Businesses that are engaged in the maintenance and repair of ships and boats can generate significant revenue once the business is established. Investors should take into consideration both the initial startup costs and those associated with the marketing strategy for the business. When opening a company in an area where there are competing companies, a good business strategy and the provision of new or superior services can be important for the development of the business.
Below, our team of agents highlights the main steps needed to open a company in Italy, steps that also applies when starting a business that provides repair and maintenance works for various types of vessels.
Are you planning to open a company in Italy? Our recommendation is to get in touch with our accountants in Italy and benefit from the services offered. In a company, there is a need for the preparation of annual financial statements, bookkeeping, audits, payroll services, debt monitoring, and, on request, expert tax advice for high-net-worth investors. Contact us now to benefit from our offers and free case evaluation.
Company set up in Italy
There are two main types of companies that are usually used in Italy by investors who start a business for the repair or ships: the private limited liability company and the stock company. The main difference between them lies not in the liability of the shareholders (in both cases they are only liable to the extent of the invested capital), but the in incorporation requirements, the minimum share capital is larger in case of the joint stock.
Below, we list the main steps for company formation in Italy:
- Choose the company name: entrepreneurs should check if their chosen company name is available; they can reserve it for their company.
- Create the company documents: drawing up the company’s Articles of Association is an essential step.
- Deposit the capital: for the private limited liability company the minimum share capital is 1 €.
- Register the company: apply for registration with the Italian Business Register, Registro Imprese.
- Hire employees: this can be an essential step for a ship repair and maintenance business; experienced mechanics, metalworkers, and painters are needed.
Renting or purchasing a warehouse and the additional equipment for the business is a step that should also be taken into consideration by investors.
Investors who wish to open a company in Italy that provides maintenance and repair services for boats can contact us for complete details about the company formation process. We provide complete services related to the formation of companies, the applications for the special permits and licenses and other steps needed to run a business in the country.