A S.p.A. is a capital company with share capital divided into shares, governed by Civil Code arts. 2325 onward. It has a more formal corporate and governance regime than an S.r.l. and can be used by larger property or investment undertakings. It is not inherently social-purpose or eligible for affordable-housing support. An S.p.A. may adopt impresa sociale status only if it meets Decree 112/2017 requirements; that status carries constraints and disclosures. Ordinary company form, social status, project role and property tenure must be assessed separately. Public support may exclude for-profit applicants or impose affordability/alienation conditions.