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Each project should be represented by a separate company (SPV). The social capital of a limited liability company (srl) can be very low, i.e. EUR 100.-- . It is not necessary to create a large social capital for the SPV. The purpose is to pay all the amounts into the SPV as a loan and be able to withdraw it as soon as the cash flow becomes positive. From a fiscal point of view it is more advantageous for the investor that the invested amount appears as a loan granted to his company. In this way the company can repay the loan to the investor as soon as it can afford it, while the dividends are paid at the end of the fiscal year.
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