New Italian Services Ltd represents the historical core of our group's activities in Tax Planning Services. Approved as a qualified Companies Services Provider firm in London, provides as well Companies Formation in the Grand Duchy of Luxembourg.

The clients of New Italian Services Ltd are very varied: industrialists, high net worth individuals, investment funds, family offices, real estate investors. The main Luxembourg companies we provide services to are:

• Soparfis (sociétés de participation financière - financial investment companies)
• Holding companies (SPF)
• Securitisation companies
• SICARs (Risk Capital Investment Company)
• SICAV
• SIF

Luxembourg Societe Anonyme (Joint Stock Company)

The Societe Anonyme, abbreviated SA, or joint stock company, is formed under the Commercial Companies Law 1915, as amended. SAs must have a minimum capital of around EUR31,000 divided into freely transferable shares held by at least two shareholders, who may be resident or non-resident persons or juridical entities. The shareholders' liability is limited to the amount of their subscribed (not necessarily paid-up) capital. There is a Board of Directors (at least three), and day-to-day management may be delegated to a managing director.

Incorporation takes 2 or 3 days; the SA's statutes must be printed in French or German; a director must give his name, address and occupation. There must be registered office in Luxembourg, but only the share register need be kept there. Accounts need to be submitted annually to the Registrar of Companies, but need only be audited if a company exceeds a certain size: either the balance sheet is greater than EUR3.125m, or sales are greater than EUR6.25m, or there are more than 50 employees.

Luxembourg Societee a Responsabilite Limitee (Limited Liability Company)

The Societe a Responsabilite Limitee, abbreviated SARL, or limited liability company, is also formed under the Commercial Companies Law 1915, as amended. The SARL must have a minimum paid-up capital of around EUR12,400 divided into 'participation certificates' which are not freely transferable. There may not be more than 40 shareholders, and they are liable for the amount of their paid-up capital. If there are fewer than 25 shareholders an annual gemeral meeting is not necessary.

In other respects, the SARL is similar to the SA.