The beauty of this European gem is undeniable. Italy is a great place to live. What about investing or starting a business?
Overview of the Italian economy
Italy has the eighth largest economy worldwide and third in the Eurozone. Possessing an internal market of 60 million people, a GDP that is valued at $36,000 per capita (IMF 2018), and one of the most advanced economies, investing in Italy is a great way to build your business in the heart of Europe.
Italy has a very diverse economy. Developed industrial factories that are dominated by private companies are located in the North while underdeveloped, highly subsidized businesses and industries control the Southside of Italy. The Italian economy is largely composed of manufacturers of high-quality goods and services usually produced by small SMEs.
Why you should invest in Italy
Attracting foreign investments is one of the strategies employed by the Italian government, The continuous effort to improve investment has attracted a lot of investors. Entrepreneurs, and businessmen from all over the world. The government has created a favorable environment for foreign investors.
Investing in Italy gives you free access to a very rich and profitable market. You are surrounded by immense, unique, and rich people of intellectual knowledge and expertise on a global scale. These people are fairly experienced in all fields of work, industrious, productive, and possess extraordinary know-how in strategic sectors like manufacturing, machinery, automatization, logistics, fashion, and design. For almost 6 decades, Italy has also opened its door to external investments in delicate sectors such as energy, networks, aviation, telecommunications, and transport.
Profitable, rich market
The Italian households rank as one of the least indebted in Europe, this is a positive sign of a very profitable market. According to OECD 2016, this household debt is equal to 76.4% of disposable income; this is by far the lowest found anywhere in Europe.
Good Transport System
Italy is the main access point to a market of over 600 million customers in Europe, 400 Million in North Africa, the Middle East, and Asia. The transportation network available in Italia comprises over 6,900 km of highways, 1,000 km of high-speed railways, and over 6 seaports that can house multiple cargo ships sailing all across the globe.
The Italian Republic is the fifth country worldwide for investments of scientific publications produced, twelfth in biomedical research, for investments, and 27th in innovation rates of businesses & the economy. Italian small and medium-sized enterprises are innovative, strategic, and organized in Europe.
Italy has been the second-largest manufacturing economy in Europe for over 30 years, second only to Germany. It Is also the 7th largest manufacturer worldwide [World Bank 2015] beating France, Spain, and the UK. This European country has the highest applications of international registration of industrial designs, agri-food brands, and the pharmaceutical sector.
Italy makes use of the most advanced technologies in the manufacturing sector for processing raw materials, conserving more energy in production processes, and efficient production. Industries in Italy save more energy when compared to France, Spain, Germany, and the UK. Italy is the world power in the production of renewable energy.
Italian cities also embellished a lot of monuments, artworks, historic centers, and architecture. Italy also has the highest number of UNESCO heritage sites of humanity in the world. This makes it a prime destination spot for ex-pats & tourists planning on spending time in Europe. Italy welcomes over 50 million tourists every year, investing in Italy allows you to showcase your brand/business to an international audience.
Investor Visa Application
Applications for Italian residency by investment have three schemes available to all interested parties. With a minimum threshold of €500,000, which increases to €2 million, you can get a permit to stay in Italy for two years.
You can also get another permit to stay in Italy if you maintain the investment. In the end, you can obtain Italian citizenship after 10 years of residency status for non-EU citizens. The investment visa also extends to family members. The permits that come with the investment allow the beneficiary to travel to any EU state without a travel visa. One of the best things about an Italian visa is that you obtain visa-free travel to over 170 countries.
Applications for the Non-Domiciled Program are filed to the Italian tax authorities. While applications for the Investor Visa program are filed to the Italian Ministry of Economic Development an online portal to complete their application. The Italian economy is striving but developed, and one of the best places to invest money in Europe.