Starting a Business in Italy: Conditions and Residence Rights

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Starting a Business in Italy: Conditions and Residence Rights

Italy ranks 30th in the world according to the Ease of Doing Business Index 2020 data created by the World Bank.

There are many advantages to establishing a company in Italy. The main reasons why investors prefer to establish a company in Italy are; its central geographical location in Europe, its climate, the country's stable political situation, its strong economy and its high workforce.

Italy's corporate tax rate is 37%, and in some cases it is reduced to 27% to direct corporate income towards capital growth. The income tax rate in Italy varies between 23% and 43%.

What are the Types of Companies in Italy?

The types of companies in Italy are listed below.

• Limited company
• Incorporated company
• Unlimited company
• Partnership divided into shares

Can Foreigners Establish a Company in Italy?

Yes, foreign nationals can establish companies in Italy and become partners in existing Italian companies. There is no obstacle for foreign nationals to establish partnerships and companies in Italy, provided that the necessary legal procedures are completed.

What are the Requirements for Establishing a Company in Italy?

In order to establish a company in Italy, a tax number must be obtained from the Italian tax authorities as a natural or legal person. Partners must determine an address in Italy in order to carry out the establishment procedures. When determining the address of the company, if an office will not be kept at the first stage, companies that provide virtual office services can be used.

In Italy, newly established companies are registered in the trade registry within 30 days after the signing of the articles of association and articles of association in the presence of a notary. The registration procedures required to establish a company in Italy in the trade registry take an average of 10-14 days. The company's tax number and official postal address are requested simultaneously with the establishment of the company. Notifications sent to the official postal address are deemed to have been served. The establishment of companies in the presence of a notary is possible with a power of attorney given by the persons who will establish the company to a third person.

What are the Requirements for Opening a Company Branch in Italy?

The requirements for opening a company branch in Italy are listed below.

• Preparation of company articles of association
• Registration and payment of company capital
• Obtaining a tax number
• Obtaining mandatory company books
• Social security transactions

How to Start a Business in Italy?

In order to establish a company in Italy, the articles of association are first prepared. After the completion of the contract process, the company capital is registered and paid, a tax number is obtained, the mandatory books are obtained and finally, social security procedures are initiated.

Can Citizens of the Republic of Türkiye Establish a Company in Italy?

Yes, citizens of the Republic of Türkiye can establish a company in Italy.

How Much Does It Cost to Start a Business in Italy?

The minimum capital for limited companies to be established in Italy is 1 Euro. The capital can be contributed or committed in kind or in cash. When the committed cash capital is between 1 Euro and 10,000.00 Euro, at least 25% of the capital must be paid during the establishment.

The minimum capital amount for joint stock companies to be established in Italy is determined as 50,000.00 Euros. At least 25% of the determined amount and the entire capital to be contributed in kind are paid during the establishment.

How Long Does It Take to Open a Business in Italy?

Once the necessary procedures for opening a business in Italy are completed and all required documents are submitted completely, acceptance takes approximately 5 to 7 business days.

Is it necessary to be in Italy to establish a company in Italy?

In order to establish a company in Italy, a visa must be obtained and the person must be in Italy. The visa type of those who plan to establish a company in Italy is evaluated in the Italian investor visa category.

After obtaining an Italian visa, the applicant can enter and exit Italy and have the right to legally reside there for the duration of the visa validity period. The validity period of the Italian investor visa can be a maximum of 2 years.

Is it possible to obtain residence permit in Italy by establishing a company?

It is possible to obtain a residence permit by establishing a company in Italy. The Italian investor visa is issued for a maximum of 2 years.

Foreign nationals who come to Italy with an Italian investor visa have a residence permit in Italy for 2 years. An application for an Italian investor visa can be made at least 2 months before the expiration of the specified period and the period can be extended.

Is it possible to obtain citizenship by establishing a company in Italy?

It is possible to obtain citizenship by establishing a company in Italy. In order to obtain Italian citizenship by establishing a company, one must first enter Italy with an Italian investor visa.

There are various conditions to obtain an Italian investor visa and the visa is issued for a maximum of 2 years. Foreign nationals who enter Italy with an Italian investor visa can apply to settle in Italy and obtain citizenship after 10 years.

What are the advantages of establishing a company in Italy?

The advantages of establishing a company in Italy are listed below.

• Due to the strategic location in Europe, international logistics is easy and inexpensive.
• The investment culture in Italy is rich and the propensity to invest is high.
• There is a potential market for investments in Italy.
• There is an embrace of technology and innovation in Italy.

What Are Italy's Largest Companies?

The largest Italian companies, according to 2021 data from the Italian National Statistical Office, are listed below.

• Gucci
• Prada
• Ferrari
• FIAT
• Pirelli
• Ferrero SpA
• Barilla
• Illy
• The General
• Width

What are the Consulting Companies for Investment in Italy?

Companies providing consultancy for investments in Italy are listed below.

• Italian Investment Agency
• Invitalia
• The Spectrum IFA Group
• AJ Reiss
• Arcadia Financial Advisors
• DPI International Investment Advisory

Vizem.net is the only accredited agency in Turkey that has been providing consultancy on company establishment and investment issues in Italy for the last 4 years.

What to Do in Italy?

Among the businesses that can be done in Italy; There are great potential and opportunities in the textile, packaging products, food, tourism, building materials and health sectors. It is advantageous for Italian citizens or foreign nationals to open a business in high-potential sectors in Italy.

What are the Turkish Companies in Italy?

Turkish companies in Italy are listed below.

• PFI Industrial Doors
• ANT Distribution
• Sedaberen Shipping Limited Company

What Do Turks Do in Italy?

Turks who establish companies in Italy generally work in sectors with high potential, such as textiles, packaging products, food products, tourism, building materials, construction and health.

Turkish citizens who want to work in Italy must first check whether they are eligible to work in Italy. People who meet the necessary conditions to work in Italy can apply for an Italian work visa.

What is the Contact Information for the Italian Trade Attaché?

The contact information of the Italian Trade Attaché is given below.

Fax : 0039 06 591 79 84

Address : Viale Pasteur, 77/8 Int: 8 Eur, Rome

Phone : 0039 06 592 51 17 - 0039 06 592 23 34