#CAPITALEPMI: the program for the capitalization of SMEs has been launched

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#CAPITALEPMI: the program for the capitalization of SMEs has been launched

#CAPITALEPMI: the program for the capitalization of SMEs has been launched

The implementing decree of the “Pari Passu” program for the capitalization of SMEs, introduced by the italian Government in the “Re-launch Decree”, was signed on 16 September. This program provides incentives in the form of a tax credit for capital increases carried out by companies, and the establishment of the “Fondo Patrimonio PMI”, managed by Invitalia, for co-investment by the state.

The recipients of the program

These incentives are intended for corporations or cooperatives (excluding those operating in the banking, financial and insurance sectors), which have:

  • registered office in Italy;
  • revenues of between 5 and 50 million euros;
  • suffered an overall reduction in revenues in the months of March and April 2020 equal to at least 33% compared to the same period of the previous year and which for this reason have approved and carried out a capital increase, after the “relaunch decree” came into force and by 31 December 2020.

The incentives provided

The program includes:

  • a tax credit of 20% for an investment not exceeding € 2,000,000 and a shareholding held until 31 December 2023, for subjects who make cash contributions in execution of a capital increase, in one or more companies
  • an additional credit equal to 50% of the losses exceeding 10% of the shareholders’ equity, up to 30% of the capital increase itself.

Applications will be forwarded to “Agenzia delle Entrate”.

“Fondo Patrimonio PMI”

Furthermore, “Fondo Patrimonio PMI” may underwrite bonds or debt securities of companies with revenues exceeding € 10 million which carry out a capital increase of no less than € 250,000.

The implementing decree on the ‘SME Equity Fund’, signed once the dialogue with the European Commission has been successfully concluded, specifies the conditions and terms of the subordinated financial instruments that can be subscribed to under the Fund itself.

The objectives of the program and the methods of application

Among the main objectives that this measure aims to achieve are certainly:

  • the strengthening of the capital structure of SMEs, thanks to the contribution of private capital and the amplifying effect of the state loan
  • the immediate liquidity available to companies and greater ease of access to bank credit.

An application and disbursement process is envisaged, managed by Invitalia on its website, starting from 16 September. This is the link: https://www.invitalia.it/cosa-facciamo/rafforziamo-le-imprese/fondo-patrimonio-pmi/presenta-la-domanda

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The Coscia Law Firm, thanks to its expertise and experience in the field of business consultancy and assistance in obtaining incentives both at national and European level:

  • provides interested companies with all the information regarding the requirements and procedures for accessing the incentives of the “Pari Passu” program, assessing in advance the existence of the necessary conditions to obtain them;
  • assists its customers in preparing the necessary documentation and forwarding it according to the procedures set out in the Decree;
  • manages the practice until its conclusion;

Contact us immediately at the phone +39 3711453121 or via e-mail at info@studiolegalecoscia.it, to obtain contributions for the capitalization of your company!

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