S.r.l. is a legal entity in Italy, with the full name Società a responsabilità limitata, meaning limited liability company. It is a form of mixed ownership company, requiring at least one natural person as a shareholder, and only allowing natural persons to hold shares. S.r.l. does not participate in the public market, therefore it does not need to designate a legal representative, nor does it need to have local individuals serving as directors. Additionally, S.r.l. does not require a company secretary. According to Italian law, there is no specific minimum registered capital for S.r.l. Furthermore, S.r.l. is not required to have its capital verified. In summary, S.r.l. is a flexible form of company suitable for small and family businesses.