Italy is one of the founding members of the European Union and from July to December 2014 will be in charge of EU Presidency. Also, Italy in 2015 it’s going to host the next world fair: MILANO EXPO.
Italy has a diversified industrial economy. The great strength of its economy lays in its vibrant small and medium firms, specializing both in high quality consumer goods and in high tech design and engineering products, which have won gained large shares of the global market. The small size of such companies is often offset by their belonging to and working within specialized clusters.
Over the past years, Italy has been implementing structural reforms, such as lightening the high tax burden and overhauling its labor market.
With almost 60 million consumers, the Italian market offers countless opportunities to businesses in expansion.
Thanks to its strategic location in the heart of the Mediterranean, Italy is a crucial crossroads for land, sea and air routes linking the north and south of Europe.
|Official Languages||Italian; two bilingual regions: Alto Adige, German and Italian; Valle d'Aosta, French and Italian|
|National Holidays||April 25th (Liberation Day); June 2nd (Republic's Day)|
|Religious Holidays||November 1st (All Saints); December 8th (Immaculate Conception)|
|Form of Government||Parliamentary Republic|
|Administration||15 Regions and 5 autonomous Regions: Friuli-Venezia Giulia; Sardinia; Sicily; Trentino -Alto Adige; Valle d'Aosta|
Gross Domestic Product (at current prices)1
|EUR 1,590 billion (2012)|
|Exports (at current price)||EUR 477 billion (2012)|
|Imports (at current price) es)1||EUR 483 billion (2012)|
|FDI Flows2||Inflows: 29,059 million USD; Outflows: 47,210 million USD (2011)|
|Neighbouring Countries||France, Switzerland, Austria, Slovenia; Enclaves: Holy See (Vatican City), Republic of San Marino|
|60,6 million inhabitants (1st January 2011)|
|Largest Cities3||Rome (2.7 million), Milan (1.3 million), Naples (959 thousand)|
|Time Zone||Central European time (CET) with European daylight savings time|
|Currency Euro||1 € = 100 Cent|
|Phone Dial Code||39|
|Power1||Voltage 230 V, 50 Hz|
Located in the heart of the Mediterranean Sea, Italy is the main crossroads linking southern Europe to the rest of the continent.
Italy ranks 2° in the world for business innovation- oriented clusters
Italy is the 5° manufacturing economy Worldwide and 2° in Europe
Italy is the 10° largest market in the world, with significant economies of scale
Italy ranks 12 Worldwide on FDI ranking by source and it is one of the world's 10° leading exporting nation with almost 500 billion euros of export.
Italy produces goods high on the value chain with export-oriented companies present along all the chain
11° in terms of unique products
More than 4 million entrepreneurs
High growth potential Fashion, home furnishings, capital goods, aerospace, robotics, pharma and biotech
First worldwide for Unesco World Heritage sites
Countless opportunities for expanding companies
New business environment
Following a thorough reform of Italian corporate law in 2003, the legal framework for companies can now be considered one of the most modern and dynamic in Europe.
Overall the 2003 reform successfully introduced:
Our Service Kit encompasses a comprehensive Company Set-up Service (pls refer to attachment OING BUSINESS IN ITALY)
Over the past years, Italy has been implementing a broad reform of the Italian corporate tax system, with new amendments being introduced annually:
Italian Labour Law has been subject to important changes after the Law 28 June 2012 n. 92 came into force on 18 July 2012.
Seen as a step forward, the reform gives a strong signal to foreign investors showing Italy’s willingness to exploit its enormous potential. From the first section of the Law, it is easily to identify how the domestic labour market should be: “inclusive and dynamic”.
The core points of the new Law are the following:
Labour is regulated by Italy’s Constitution, Civil Code, the Workers’ Bill of Rights (Statuto dei Lavoratori), and other relevant laws and decrees. Employment terms and conditions are also periodically fixed by collective labour agreements within the various professional categories.
Admission, work permit and residence
Business trips up to 90 days
For the purpose of business trips of up to 90 days, foreign nationals require a visa for entry into Italy. This requirement does not apply to citizens of member states of the European Union, or citizens of certain other countries
Work permits and residence (over 90 days)
To work in Italy, foreign nationals from outside the European Union must be in possession of a permit (nulla osta), which their future employer must apply for in advance from the Immigration Office. The Immigration Office will grant the permit on the basis of current immigration quotas established by the State.
A residence permit is no longer required for citizens of the European Union but requires simple registration as residents.