Do I need a Business License in Italy as a foreign enterpreneur?
Oct 04, 2020 22:05
With few exceptionshow do i know if i need a business license? Many countries in EU allows foreigners to register a new ordinary company owned exclusively by natural or legal persons. Generally speaking, if the company is adequately funded, you can immediately apply for the employment of non-EU workers through the EU Blue Card procedure (reserved for highly skilled workers).
Your European enterpreneurs’ route may pass through Italy
Are you planning to open your business in EU? Italy is a developed economy with great potential, although cultural characteristics and numerous levels of bureaucracy constantly leave companies confused. That is why having the appropriate local help is essential for doing business, especially if you need a business license in italy, to start your company.
With a strategic location and a vast business network, Italy is considered an ideal place for the expansion of companies internationally. Other factors that are attractive to foreign companies are their modern infrastructure and developed economy; as well as its strength in sectors such as life sciences, information and communication technologies, renewable energy, high-quality consumer goods, high-tech design, and engineering products.
Start a Business and Obtain a Work Permit and residence Permit
Registering a company in Italy does not automatically lead to a work permit / visa / residence permit. Current immigration provisions grant a work visa as a director or owner of a business (self-employment) only if the business has been actively operating for at least 3 years.
The law does not establish any limits for the use of newly established companies to sponsor work permits (such as minimum capital or turnover, number of local workers), but leaves a wide margin of discretion to the local Immigration Office to assess the financial capacity of the company to carry out the business and assume all relevant positions for the workers. Consequently, it is always advisable to start a new business with adequate and substantial funds, in addition to the minimum capital of € 10,000 that is required to register a limited liability company (Srl) and to be able to demonstrate that you have the financial means to carry out the planned business. .
Start a Company
Settling in Italy must overcome strenuous government procedures and difficulties with decision-making and communication. A representative of the company must make a first deposit in a bank of at least 25% of the amounts in cash, prior to executing a public deed of incorporation and organizing the appropriate accounting procedures. It is also necessary to pay a state subsidy tax at the post office and register with the Comunicazione Unica and the Labor Office (DPLMO).
Take Care of Building Permits
Dealing with building permits characterizes the Italian business system. While it requires fewer procedures than the OECD average, the time to complete each stage is significantly longer. It takes 135 days just to get a building permit and 30 days with various other departments.
Time is the main concern when it comes to getting electricity. The service provider can take about 100 days to carry out the external connection works. Just getting an estimate after submitting the application takes two months on average.
The Italian tax system is extremely complex. Companies must make 15 payments per year, which implies about 269 hours. What's more, levels of the tax system are particularly high, and the private sector will likely feel the pinch as the government grapples with the growing budget deficit.
Marketing in other Countries
Doing business in other countries is another time-consuming task: exporting takes 19 days and exporting takes 18. Authorities require ten days to process the necessary documents and containers may also be detained at customs and technical control.
Compliance with Contracts
Italy ranks among the worst countries in the world in terms of contract enforcement, a process that requires an exorbitant amount of 1,210 days relative to the OECD average of 510 days. Considering that 41 procedures must be completed, this would not seem surprising.
Resolution of Insolvency
It takes 1.8 years for the resolution of insolvency and can cost an average of 22% of the real estate.
Traditions and a sense of history play a vital role in the minds of Italians, and both factors have a significant bearing on the Italian approach to business. Trying to make decisions can be a lengthy procedure, and building relationships is one of the most important aspects of business.
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