“Resto al Sud” “Resto al Sud” is the new measure managed by Invitalia, aimed at encouraging young people to start their business activities in the Southern regions of Italy. The program is aimed at financing new production activities, both in the form of sole proprietorships or corporations, in industry, manufacturing, processing of agricultural products, fishing [..Read more..]

Last 6 October 2020, the EU Commission launched a new digital platform to support EU companies doing business with Iran. The JCPOA (Joint Comprehensive Plan of Action) dated 14 July 2015intended to put an end to all economic and financial sanctions imposed by the European Union in connection with the Iranian nuclear program. However, some [..Read more..]

The real estate simple partnership (“società semplice immobiliare”) An efficient instrument to hold real estate assets in Italy The real estate simple partnership (“società semplice immobiliare”) is a type of partnership that does not carry out commercial activity as its only purpose is to hold real estate assets. The shares of a real estate partnership [..Read more..]

The Italian Investor Visa Program (Golden Visa), regulated by Article 26-bis of the Italian Consolidated Law on Immigration (Legislative Decree No. 286/98) has introduced a 30 days fast-track procedure to obtain an Italian residence permit for foreigners who intend to make one of the following eligible investments in Italy: an investment of at least Euros [..Read more..]

Italy implemented a comprehensive reform of the Third Sector and other not-for-profit organizations. Introduction. Pursuant to Italian law, a Third Sector Organization or Ente del Terzo Settore (“ETS”) is a not-for-profit private organization or entity that pursues civic, solidarity and social benefits purposes carrying out, exclusively or principally, activities of general interest in an accountable and transparent [..Read more..]

The Italian Liquidity Decree: Covid-19 Government measures to support Italian enterprises. Last 8 April 2020 the Italian government implemented new important measures to support and provide liquidity to Italian enterprises. Read our comprehensive guide.

Decree Law no. 23 of 8 April 2020 On 8 April 2020, the Italian Council of Minister approved Law Decree no. 23, published in the Official Gazette (General Series no. 94, Extraordinary Edition of April 8, 2020), containing “Urgent measures related to access to credit and tax obligations for businesses, special powers in strategic industry [..Read more..]

Covid-19 emergency measures: New rules for remote shareholders’ meetings and extension of the term to approve the yearly financial statements The emergency measures against COVID-19 also apply to the corporate framework. First, under the Italian law the shareholders’ meeting for the approval of annual financial statements must be convened within 120 days from the last [..Read more..]

Read our guide on the COVID-19 Emergency Italian labour law framework.

Which investments qualify as investments into a “company incorporated and operating in Italy” under the Golden VISA legislation? Under Italian immigration law, one of the options to qualify for Golden VISA is to «invest at least € 1 million in equity instruments of a company incorporated and operating in Italy, to be held for at [..Read more..]

Taxation of Italian Companies. The taxation of the income of an Italian company is based on its aggregate income earned both in Italy and abroad. This articles provides an introduction to corporate tax in Italy, outlining the types (IRES and IRAP) and rates of income tax and explaining how such tax is calculated. Corporate Tax [..Read more..]

Rewarding scheme for “highly-qualified” workers that want to relocate to Italy. The Italian government has recently implemented incentives for “highly-qualified” workers that want to relocate to Italy. The rewarding system consists in a lowering of the personal income tax base to the extent of 50% and it applies from the tax year in which the [..Read more..]

MANAGEMENT AND STATUTORY AUDIT OF AN ITALIAN COMPANY  In Italy, companies are managed either by a Board of Directors (consiglio di amministrazione) or by a sole director (amministratore unico). The Board of Directors or the sole director can delegate certain management powers to non-directors to facilitate the day-to-day management of the company. This document discusses [..Read more..]

Come and work in Italy and have up to 90% of your employment income tax free The preferential tax regime for “inbound workers”(a tax regime aimed at attracting to Italy non-resident employees / self-employed workers), provides for a 50% exemption of Italian-sourced employment (and assimilated) and self-employment income. The preferential tax regime applies for the [..Read more..]

Acquisitions and joint ventures. Italian Decree Law No 58/98 and the regulations made under this law provide, amongst other things, the legal framework for public offers for the acquisition of shares, whether these are listed on the stock exchange or not. This document discusses matters relating to acquisitions of company shares in Italy, covering: public [..Read more..]