The “made in Italy” brand is one of the most iconic in the world. From pasta to Prada, Ferrari to Fellini, Brunello to Benetton the country is outrageously over-endowed with globally recognised talent in many different fields. Even in sectors that are not traditionally considered “made in Italy”, there are champions and best practices for example, for the past five years the country’s pharma industry has recorded the largest export growth in the world.
Italy’s economic strength lies in its wide variety of small and medium sized family owned firms staffed by top quality, qualified professionals in industries that you may not at first associate with the country. Italy is among the top three countries in the world for robotic and non-invasive surgery for example. Precision machinery, chemicals, nanotechnology and electronic goods are among its top exports.
Italy’s strategic position in the mediterranean gives it easy access to southern, central and northern Europe and is an excellent location for product distribution.
The Italian economy attracts foreign investors however bureaucracy including the country’s labor law is seen as a key barrier for some foreign investors.
Italy encourages foreign investment by offering foreign-owned entities the same incentives - such as subsidised loans, cash grants and tax credits – that are available to entities owned by Italian nationals. In order to attract further foreign investment in the country, the Italian Government recently introduced several changes to tax laws relevant to foreign companies, in particular a new research and development tax credit and a new patent box regime. It also introduced new incentives for investments in manufacturing and R&D (notably the “Development Contract”) and extended the tax incentives available for “technological start-ups” and “innovative SMEs”.
The Italian government also grants financial assistance to foreign investors depending on the geographical location of the investment, the size of the investing company and the sector in which the company is investing.
Is Italy the place for your next strategic move?
Our core areas of expertise
TMF Group Italy provides a one-stop shop for all of your compliance needs in the country. We can help you with everything from setting up the most appropriate type of entity, to on-going management, accounting, corporate secretarial, real estate, payroll and HR services.
We work from the top level right down to the basics of compliance such as setting up compliance deadline schedules, exercising corporate health checks and helping your staff with visas and immigration. Whether you are starting out, enjoying business as usual or winding down, TMF Group's Italy offices can help you through your company's entire life cycle.
Our specialist private equity team create and administer solutions that will provide for extended families, manage multiple and complex cross-border assets, navigate tax and regulatory requirements and plan for estate and business succession. We have one common goal: to create and maintain solutions that protect and enhance your assets.
Our in-country teams with local knowledge have the backing of a group with global reach, helping you to do businesses seamlessly across borders.
View our case studies here.