1. Recent developments in the
Italian Business Register
and Company Law
Vito Giannella

2. CRF Conference, Rio de Janeiro, March 2014
2
The Italian Business Register
The IT company of the Italian Chambers of
Commerce.
Unioncamere – the National Association of the
Italian Chambers of Commerce.
The Italian Chambers of Commerce, Industry, Handicraft and Agriculture are classified as local autonomous public institutions by
Law n.580/1993. Their mission is to further the general interests of the production system and of the enterprises that are their
member.

3. CRF Conference, Rio de Janeiro, March 2014
3
The Italian Chambers of Commerce Network
The Italian Chambers of Commerce are the center of a wide network of agencies
providing services and developing strategies and projects aimed at promoting a
balanced growth of the economy.
• 105 Chambers of Commerce
• 1 National Association
• 19 Regional Associations
• 66 Mediation/Arbitration Chambers
• 146 Branches providing local services
• 144 Companies for the management of
promotional services
• 607 Companies in partnership with public and
private entities
• 9 Foreign Trade Centers
• 65 Euro Info Centers
• 74 Italian Chambers of Commerce abroad
• 32 Italian-Foreign Chambers of Commerce

4. CRF Conference, Rio de Janeiro, March 2014
Data
 > 6 million registered companies
 > 10 million persons (entrepreneurs, shareholders,
directors, auditors and managers)
 > 1 million Annual Accounts filed annually
 > 7 million protests
 > 1 million trademarks
The Italian Business Register at a glance
Online services
 Opening, modification and closure of a
company
 Shareholders updates
 Annual Accounts filing
 PEC registration (registered e-email)
A completely paperless system
4

5. CRF Conference, Rio de Janeiro, March 2014
A single website for all and for everything!
Access the data from
 Business Register
 Protests Register
 Patents and Trademarks database
 European Business Register
Prepare & send applications for
 Incorporations
 Changes
 Annual Accounts
 Communications to Tax Agency, Social
Security, other Public Administrations
www.registroimprese.it
5

6. •search for current or past information
on companies or natural persons
•download of
– Company profiles
(name, company
number, legal
form, registered office, type
of activity, date of
incorporation) and Company
documents (financial
statements, articles of
association, by-
laws, shareholders
information, legal
representative, etc.)
– Natural person profiles
(name, company/ies in which
the person holds an office
and type of office held)
Search tools and services
CRF Conference, Rio de Janeiro, March 2014
6
search and
download
additional
services
• graphic and visual representation of the data, in
addition to the traditional text format
• monitoring of selected companies and email
notification of any change
• maps of headquarters, branches and production
units of companies throughout Italy

7. The Business Register
Access to information
CRF Conference, Rio de Janeiro, March 2014 7
PUBLIC
ADMINISTRATION
Central and Local
 50.000 users
 15 million Visits/Year
 200.000 users
 5 million Visits/Year
DISTRIBUTORS
commercial data providers
Trade Associations
Professional bodies
 60 distributors
 50 million Visits/Year
PRIVATE USERS
Professionals
Businesses and citizens
 Application port (CAD)
 De-certification
 Access to registroimprese.it
with electronic payment
 Online channel
 Massive data access

8. The Single Communication (“ComUnica”) allows companies to fulfil all their obligations towards
the Business Register, INPS (Istituto Nazionale Previdenza Sociale [National Social Security
Institute]), INAIL (Istituto Nazionale per l'Assicurazione contro gli Infortuni sul Lavoro [National
Institute for Industrial Accident Insurance]) and the Tax Administration.
Single Communication - COMUNICA
CRF Conference, Rio de Janeiro, March 2014 8
Chambers of Commerce
The Business Register
About 6 million transactions in 2013

9. 2010 2011 2012 2013
Internet 3,222,507 5,163,743 3,649,520 5,804,868
Paper 1,086,951 288,031 421,892 508,293
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
online vs. paper filing
A paperless system
The Business Register
CRF Conference, Rio de Janeiro, March 2014 9

10. Recent developments
for
simplification, reduction of
administrative burdens,
enhancement of market
transparency
CRF Conference, Rio de Janeiro, March 2014
10

11. CRF Conference, Rio de Janeiro, March 2014
Mandatory for all companies
except companies that produce Annual Financial Reports according to IFRS
 Filing limited to Primary Financial Statements
 Balance sheet (assets and liabilities)
 Income statement (profit and loss)
 Companies needing extra facts definition are allowed to
add the PDF Annual account to the XBRL instance
document
XBRL filing

12. 12
2009: 978.647 balance sheets
 xbrl instance documents = 25.000  2,5%
 percentage error = 21,4%
2010: 959.950 balance sheets
 xbrl instance documents = 940,751  98%
 percentage error = 2 %
2011 : 1.007.473 balance sheets
 xbrl instance documents = 978.647  98,66%
 percentage error = 0,25%
2012 : 1.005.650 balance sheets
 xbrl instance documents = 976.873  98,9%
 percentage error = 0,13%
CRF Conference, Rio de Janeiro, March 2014
Some figures

13. 13
The BR back-office reduces checks and costs
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
2010 2011 2012 2013 2014
Annual accounts submitted to the
Quality Assurance Process
Annual Accounts
0
100,000
200,000
300,000
400,000
500,000
600,000
2010 2011 2012 2013 2014
Costs for the Quality Assurance
Process
€uro
From year 2013
 Only very complex files processed
 Top level automatization reached

14. in.balance is the online service created
by InfoCamere for the Chambers of
Commerce based on the data of the
financial statements in XBRL format
The service creates new and
extraordinary possibilities of exploration
for economic research, as it enables
searches to view and compare the data
from companyfinancial statements
contained in the Business Register
Thanks to in.balance, it is possible to
analyse company data based on various
criteria (headquarters, type of
activity, economic or financial value, etc.)
or as specifically chosen
The in.balance service
The Business Register
CRF Conference, Rio de Janeiro, March 2014 14
Company financial statements
A new set of
data ready to
be analysed
A huge potential for analysis
A "value" to be
returned to
businesses

15. Economic statistics
The business register can supply aggregations of Annual accounts by activity
code, turnover, legal form on territorial base
key accounting ratios comparison

16. Company positioning & Benchmark Services
using open source platforms
Return on Equity
return on equity
return on equity
efficiency ratio
efficiency ratio

17. CRF Conference, Rio de Janeiro, March 2014
17
1 Euro Ltd
New legal form “Società semplificata a
responsabilità limitata - SSRL” with 1€ capital, no
notary costs, just online declaration at the
Business Register website
In 2013 about 19.000 of new simplified Ltd (20%
of the total incorporated in 2013) of which more
then 50% with «under 35» founders.

18. PEC – Posta Elettronica Certificata
REM – Registered e-mail
INI-PEC is the Indice Nazionale degli Indirizzi di Posta
Elettronica Certificata [National Index of Certified E-mail
Addresses] by the Ministry of Economic Development
and implemented by InfoCamere.
INI-PEC collects all the certified e-mail addresses of
Companies and Professionals in Italy.
CRF Conference, Rio de Janeiro, March 2014 18
For administrative simplification:
InfoCamere and the Ministry of Economic
Development help companies,
professionals and citizens to dialogue with
the PA
“legal electronic address” is a new mandatory requirement
for all types of companies in dealing with the Public
Administration. The PEC (Posta Elettronica Certificata –
Registered e-mail) address is a new item in the official
company data at the Business Register

19. CRF Conference, Rio de Janeiro, March 2014
19
QR Code

20. CRF Conference, Rio de Janeiro, March 2014

21. In operation since December 2013
CRF Conference, Rio de Janeiro, March 2014 21
www.lei-italy.infocamere.it

22. CRF Conference, Rio de Janeiro, March 2014
17th ECRF Annual Conference, Italy 2014
“Our data, our value!”
22

23. CRF Conference, Rio de Janeiro, March 2014
23
Thank you for your attention
vito.giannella@infocamere.it