How does Mario Draghi think about startup? When the Prime Minister came to the House of Representatives to take advantage of the emerging government, he made clear the promise was Protect all workers from the consequences of Covid, but not all companies. Enough refreshment in the rain, was the common explanation. Draghi didn’t mention startups that day, but I didSense of speech It was clear: “Choosing which activities to protect and which to accompany the change is the difficult task for the coming months.” In short, the companies that were “accompanying change” were old companies, with outdated production processes and products or services that are now out of the market, and some were startups.
Two months later, the PM has never named startups, but if he really cares about innovation and youth as he always repeats, then it is time to take a step forward. Because otherwise, startups will return twice. The problem is: the Council of State at the end of March He agreed For notaries public declaring the illegality of a 2016 rule that allowed for a simplified creation of startups online and without a notary (reduced times, no costs). A popular procedure since then Four out of ten are startups In Italy in recent years they were born this way. Problem 1: If the rule is illegitimate, what happens to the thousands of startups like this? The second problem: in parliament they approve a bill that would convey some European directives, among them Which founds All LLCs can be incorporated online without a notary. In Italian law, however, the formula “with a public instrument” was added, and consequently, with recourse to a notary. A few days later, in fact, the Minister of Economic Development received notary representatives To advertise a festive The imminent launch of the online document preparation platform.
In short, notaries outperform startups 2 to 0. Could it end up like this? In a country where the time and expense of setting up a company puts us at the bottom of the world? Let’s make it clear: the notaries are the problem in Italy, but the motivation they provided to justify their indispensable role in the birth of startups is laughable: because they said, otherwise, who is preventing the mafia from infiltrating? Objection: How do we deal with all companies established in front of a notary public associated with criminal organizations? If we don’t want to blame the latter on the notaries, we don’t even give them credit for the former.
In short, a mess. That the government can make its official voice heard: Otherwise, the speech the Prime Minister gave on February 17th could be interpreted with the intention of “protecting” notaries and “accompanying change” for startups that believed in the future.
“Young people deserve more” Draghi said in a hailing speech last summer. Time to prove it.
The last station of the future Deal with startups and notaries. The latter has been written to us to better explain their position. I am publishing the letter of the National Adviser to Notaries Public Responsible for Communicating with Giulio Piano in full because I believe it can enhance dialogue and mutual understanding on such an important issue for the future of our country. I hope he can keep coming out of this blog to ensure that Italy becomes more and more an easy country to start a business.
Here is Julio Piño’s answer
Young people deserve more. We agree. But not because young people deserve less legal certainty. Entrepreneurs in startups, even if they are young, are those who aim to grow in innovation, primarily by looking for huge investments, and some Italian emerging companies prove this by gathering significant economic resources in the national and international market; It is therefore the first to require legal forms and an oversight system that is beneficial to ensure the interest of investors, because the value of the articles of association that is established based on the specific needs of the entrepreneur or the premium shareholder agreements is evaluated first and foremost. The startup must open up to new partners. Legal certainty is a factor of competitiveness.
The Council of State expressed itself not only in the hierarchy of sources but also on the necessary controls at the founding stage dictated by European regulations, which in Italy, as in other countries, are necessary and entrusted to notaries public.
The digital action introduced in 2016 showed all its limits as stated by the entrepreneurs themselves or by the various consultants who supported companies in the incorporation stage, and the lower number of those created using the digital model compared to the public deed is evidence of this. . Number one above all: average constitution and registration through notaries public is 2/3 days compared to 26/30 days on online form.
International examples of rapid incorporation without checks have proven to be the epicenter of global fictitious companies, and the International Consortium of Investigative Journalism (ICIJ) has also reported that even England, the global capital of unknown companies, has decided to make a complete overhaul. Record it. Other digitally advanced nations have also been at the center of a major investigation: just think that the biggest European money laundering scandal by two Scandinavian banks made Estonia the center of the underworld.
The market needs an ocean of legitimacy that is the same for everyone, along with a technological process that improves efficiency. For 10 years, Italian notaries have been at the forefront from the point of view of digital transmission of documents (as recognized by the World Bank), they are an international standard for the quality of controls and innovation and are ready with a platform, in synergy with other European notaries, which can combine controls and efficiency in Same time.
Notaries and startups play together. We are working to make the country more competitive in the wake of President Draghi’s message “No growth without legitimacy”
Julio Piano, National Notary Public Adviser in Charge of Communications
Here are some helpful links to understand
Danske Bank – Estonia
Figures on the number of unknown companies in the United Kingdom
UK system reform