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Italy – a paradise for businesspersons

Business immigration to Italy can significantly improve your life:

  • Lake Como and Capri are among top-10 posh resorts in Europe;
  • Rome and Milan are in the top-10 cities in the world with the biggest density of theatres, museums, concert halls, UNESCO objects and Michelin restaurants;
  • Italian passport scores 11th in the rating of the most influential ones, allowing a person to freely cross the borders of 155 countries;
  • You will get access to high-quality medical care, insurance and one of the oldest universities on the continent;
  • PricewaterhouseCoopers predicts that Italy will be among 15 most prosperous countries in the world by 2020;

Business immigration to Italy will also contribute to the wealth of entrepreneurs due to the following aspects:

  • Dual citizenship
  • An ability to work in any European country
  • Lucrative prospects for the business
  • The possibility of lending from banks in Italy

However, taxes are the main concern for the businesspersons, and Italy is lagging behind in this area. The country has a complicated system of state, regional, and municipal levies. Over the last 2 decades, the taxes have almost doubled. The country is constantly raising them in order to cut the budget deficit. As a result, there exist utilization tax, gambling tax, high property and tobacco taxes etc. Individual taxes totally make up 47.8% and the corporate tax is 31%.

Nevertheless, the government understands the economic importance of business immigration to Italy. The plans have been announced to cut individual taxes in coming years, as well as lower the levy for the entrepreneurs down to 24%.

In addition to that, in 2017 the country has introduced new tax rules to attract rich non-residents to the country. Italy will grant foreigners a special status, which exempts them from paying Italian taxes on profits from offshore companies. Such rules of taxation for non-residents will become possible with the introduction of an annual fee of €100.000. This fee is also extended to the whole family when paying an additional €25.000 per person. The specified rules of taxation for non-residents, who are interested in business immigration to Italy, will be valid for 15 years, provided that foreigners regularly pay fees. Income acquired within the country will be taxed on a progressive basis. The innovations apply to all persons who were not tax residents of Italy for 9 years before they moved to the country.

How to move to Italy?

Italian legislation foresees many options for obtaining legal status for an immigrant, so the main difficulty lies in the professional approach when choosing the most optimal way of legalization. The consultants of Intelligent Solution Group offer you their professional skills and knowledge to achieve obtaining Italian citizenship without problems and wasting time.

To begin with, there are no set programmes of business immigration to Italy. The way to citizenship lies through initial residency statuses. Temporary residency permit is granted in case of marriage with a citizen, family reunification, employment under the contract, and self-employment.

A temporary permit is renewed annually, and in 5 years, the person can apply for permanent residency. A candidate must prove knowledge of Italian and prove annual income of at least €6000. After the same additional period, an application for citizenship becomes available. A marriage with an Italian citizen speeds up the process up to 6 months in case of residing in the country or 3 years if the spouses leave elsewhere.

Peculiarities of business immigration to Italy.

There are two types of visa for entrepreneurs in Italy. Start-Up Visa is for those who have an innovative business idea and a minimum of €50.000 for its implementation. You can either file documents directly or use the services of a licensed business incubator. In both cases, such applications are given priority in the review.

The second type of visa is granted for the conduct of traditional economic activities. There are no specific investment requirements. There is only a minimum amount of investment, €4962.36. The rest of the expenditure for business immigration to Italy will largely depend on the business idea itself. In general, the size of the authorized capital depends on the scope of activity and the region of registration. Accordingly, the financial requirements for the applicant can range from €10-15.000 to €50.000.

The following requirements are more relevant to the second type of visa:

  • The maximum validity of the business visa and the corresponding renewable residence permit is 2 years;
  • You need to get permission to enter Italy from the law-enforcement authorities. In this case, you can use the services of a proxy without a need of personal presence;
  • To obtain a permit for business immigration to Italy, you also must apply to the Italian Chamber of Commerce to obtain a document confirming the availability of funds for a certain business, as well as confirm the availability of funds in the Italian bank;
  • To receive a statement that there are no barriers to opening your business in the country (licenses, permits, declarations etc.);
  • It is preferable to provide a business plan in which the advantages of your business for Italy are indicated;
  • To confirm the legality of residence. This could be the purchase or rental of property or a statement from a citizen or resident of Italy that you have access to adequate housing;
  • To confirm your annual income (minimum €8400).

As mentioned above, business immigration to Italy is also available for self-employed persons. In this case, an individual must obtain permission for independent activity, “lavoro autonomo”.

It is worth mentioning that the country also offers a long-term permission to stay for wealthy foreigners who have property and do not intend to work. After the purchase of real estate, an individual can officially reside in Italy without engaging in any kind of labour activity. This visa is valid for 90 days, after which a residency permission valid for a year is an option. An additional requirement is a proof of sufficient funds.

Business immigration to Italy requires thorough preparations and thoughtful approach. Intelligent Solution Group offers a professional look at the options available for each specific client in order to eliminate any immigration problems. Entrust your prosperous European future with the professionals!

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