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Business opportunities for SMEs and
VISA options for investors and entrepreneurs
Avv. Marco Mazzeschi
16 April 2018 – Hong Kong
ITALY
3 Good reasons to invest in Italy
Tips for doing business in Italy
Mind the Gap!
Business opportunities next 10 years
VISA options for investors
Three good Reasons to Invest in Italy
1.
- EU is a single market: a license in Italy is valid in all other EU countries
- EU is a market of 500 Million people
- EU is one single custom area: goods can circulate with no tariffs or trade barriers
Italy is member of the European Union (EU) – 28 States
«Made in China» products are
no longer second tiers.
Companies are increasingly
moving from being OEMs
to developing their own
brands.
Italy can be a good hub for
Expanding into other
Eu countries.
Italy is member of Schengen Area
- One single external border
- Internal borders are crossed
without further controls
- Also non EU nationals (i.e Chinese)
can move freely
Move freely in the Schengen area
Tips for Doing Business in Italy
2.
Buying real estate is safe
Notary Public must check that the title on property is free, there are no liens or other
burdens, that property is compliant with building regulations. If you buy a property
under construction, the builder must give a bank guarantee equal to price paid.
Check your potential partners or customers
Detailed information (i.e. capital, shareholders, directors, yearly accounts)
about companies can be easily obtained from the Companies Register
(Registro Imprese)
- Favorable prices (after 10 year recession)
- many SMEs need help to grow global (banks do not give credit)
- «Made in Italy» is still very valued brand not only for fashion and food, also light mechanics, food
processing machinery, etc.
Take advantage of the opportunities
Italy is like China in a
smaller scale, regional
differences and traditions
are important, be ready to
adjust to local «ways» of
doing business
Mind the Gap!
3.
i.e. buy a house or register a company and get automatically a resident visa. Double check
any information: ask the Italian Chamber for confirmation. Use a reliable local consultant,
check his international experience and reputation
Beware of fake news
Language (English is not yet spoken by
all people) and cultural differences can
be an obstacle. Italians are however
flexible and Italy/Chinese cutures have
many similarities. Take into
consideration cultural differences and
local traditions.
Political instability, high national debt,
inefficient red tape, financially troubled banks.
It is partly true, but in many cases news are
magnified by the media. Invest wisely but Italy
needs foreign investments and there are good
business opportunities
Don’t be scared by bad reports or news
Government and Regions offer in certain sectors, incentives and tax benefits to foreign investors.
Check out and take informatino from reliable sources before doing any new investments .
Check available incentives and tax benefits:
Individuals transferring their tax residency in Italy can take advantage of a yearly flat tax of € 100,000.
Family members will pay a flat tax of just € 25,000.
The new regime guarantees full exemption from reporting requirements with respect to financial and
non-financial assets abroad and from succession duties on assets outside Italy.
Favourable Flat-Tax regime for new residents
18
Houses for 1 Euro
Terms and conditions:
1. To stipulate a public deed within two
months
2. Support all expenses for the drafting of
the deed
3. Prepare a project for the renovation
and recovery
4. Start work within two months from
building permit
Business Opportunities in Italy
2018-2030
4.
20
TOURISM
• 33% of world tourist visit Europe
• 60 million tourists in Italy in 2017
• By 2020, China will be the country in the world with the most
tourists traveling abroad (200 Million forecast)
21
• 25% Italian companies provide green products/services. This number
will rise 7% each year in next 7 years.
• In Italy, total volume of trade in green industry is expected to reach 22
Billion in 2020
Green Economy
22
Aging Society
• The declining birth rate, combined with longer life expectancy, has left Italy with a significantly older
population.
• Nearly 60 per cent of residents are 40 or older, while nearly 23 per cent are over 65.
• In 2030, 30% of population will be older than 65
- Bloomberg predicts that electric cars and
plug-in hybrids could come to represent 54%
of new vehicles sales by 2040
- ING Bank estimates that electric cars shall
account for all new vehicle sales by 2035
- France committed to ban new petrol and
diesel car sales by 2040
- Volkswagen targets sales of 2-3 million
electric vehicles annually by 2015
- Renault-Nissan-Mitsubishi will launch 12 new
electric models by 2022
Electric vehicle market
- Ecommerce in the EU increased by 15% to €530 billion in 2016
- Ecommerce sales in Western Europe will rise from $96.29 billion in 2016 to $218.26 billion in 2021
- Ecommerce revenues in Italy is expected to grow from roughly 10 billion USD in 2016 to roughly 16
Billion in 2021.
Ecommerce
VISA OPTIONS FOR INVESTORS
Visit or Move to Italy?
4.
26
First,
for any kind of Visa .....
size matter!
SCHENGEN VISA or ALLOWANCE
(TOURISM/BUSINESS)
DO I WANT TO STAY
MORE THAN 90 DAYS
WITHIN 180 DAYS?
TRAVEL TO ITALY
EXIT THE COUNTRY
NATIONAL VISA
Yes
SPEND THE ALLOWED TIME IN ITALY
REGISTER WITH
POLICE/APPLY FOR
RESIDENCE PERMIT
LIVE IN ITALY/STAY MORE
THAN 90 DAYS
No
VISA OPTIONS FOR INVESTORS
Do Business Invest or Donate No Work
Self-
employment
work permit
Investors Permit
Elective
Residence
Permit
Employment
work permit
set up a
company
buy
existing
company
establish
or
join a
startup
donate
1M in
public
interest
2M
in gov.
bonds
1M in
company
or 0,5M in
startup
Buy/rent
property
Meet the
requirements
VISA OPTIONS FOR INVESTORS – Do Business
Do Business
Self-
employment
work permit
Employment
work permit
set up a
company
buy
existing
company
establish
or
join a
startup
Buy Existing Company
» Buy/Invest in Italian company…
» with at least 3 years of activity
» in good standing
» SRL (Ltd) or Spa (Inc.)
» be appointed as Chairman; CEO;
Member of board or Auditor
VISA OPTIONS FOR INVESTORS – Do Business
Do Business
Self-
employment
work permit
Employment
work permit
set up a
company
buy
existing
company
establish
or
join a
startup
Establish or Join a Startup
» proof of financial resources (at
least €50,000) to be used for
starting business
» business plan for innovative start-
up (core business: development,
production, innovative
goods/services, high technological
value
VISA OPTIONS FOR INVESTORS – Do Business
Set up a Newco or Branch
» Company: min. capital €10,000
(but higher capital advisable)
» Branch
Obtain a work permit as company’s
employee
Do Business
Self-
employment
work permit
Employment
work permit
set up a
company
buy
existing
company
establish
or
join a
startup
Invest or Donate
Investors Permit
donate
1M in
public
interest
2M
in gov.
Bonds
(2 years)
1M in
company
or 0,5M in
startup
Invest or Donate
» evidence of being the
beneficial owner
» Amounts to be readily
available and
transferable to Italy;
» commitment to use the
funds within 3 months
from entry into Italy;
VISA OPTIONS FOR INVESTORS – Invest or Donate
VISA OPTIONS FOR INVESTORS – No Work
No Work
Elective
Residence
Permit
Buy/rent
property
Meet the
requirements
Elective Residence Visa
» Have a property or rent a house in Italy
» You cannot work in Italy
» income not less than € 31,000/year (not salary),
deriving from savings, pensions, investments
» Income must be steady and likely to continue in the
future
Avv.Marco Mazzeschi
Website| www.mazzeschi.it
Email |mm@mazzeschi.it
Tel| +39.0577.926921
Weibo| @mazzeschi
34
MazzeschiSrl is partnerwith
http://www.investintuscany.com/
Tel:+39.055.4382425/5642
Fax:+ 390554384135
Email:info@investintuscany.com
Milano | Roma | Firenze | Taipei

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Italy - Business opportunities for Chinese SMEs and investors

  • 1. Business opportunities for SMEs and VISA options for investors and entrepreneurs Avv. Marco Mazzeschi 16 April 2018 – Hong Kong ITALY
  • 2. 3 Good reasons to invest in Italy Tips for doing business in Italy Mind the Gap! Business opportunities next 10 years VISA options for investors
  • 3. Three good Reasons to Invest in Italy 1.
  • 4. - EU is a single market: a license in Italy is valid in all other EU countries - EU is a market of 500 Million people - EU is one single custom area: goods can circulate with no tariffs or trade barriers Italy is member of the European Union (EU) – 28 States
  • 5. «Made in China» products are no longer second tiers. Companies are increasingly moving from being OEMs to developing their own brands. Italy can be a good hub for Expanding into other Eu countries.
  • 6. Italy is member of Schengen Area - One single external border - Internal borders are crossed without further controls - Also non EU nationals (i.e Chinese) can move freely Move freely in the Schengen area
  • 7. Tips for Doing Business in Italy 2.
  • 8. Buying real estate is safe Notary Public must check that the title on property is free, there are no liens or other burdens, that property is compliant with building regulations. If you buy a property under construction, the builder must give a bank guarantee equal to price paid.
  • 9. Check your potential partners or customers Detailed information (i.e. capital, shareholders, directors, yearly accounts) about companies can be easily obtained from the Companies Register (Registro Imprese)
  • 10. - Favorable prices (after 10 year recession) - many SMEs need help to grow global (banks do not give credit) - «Made in Italy» is still very valued brand not only for fashion and food, also light mechanics, food processing machinery, etc. Take advantage of the opportunities
  • 11. Italy is like China in a smaller scale, regional differences and traditions are important, be ready to adjust to local «ways» of doing business
  • 13. i.e. buy a house or register a company and get automatically a resident visa. Double check any information: ask the Italian Chamber for confirmation. Use a reliable local consultant, check his international experience and reputation Beware of fake news
  • 14. Language (English is not yet spoken by all people) and cultural differences can be an obstacle. Italians are however flexible and Italy/Chinese cutures have many similarities. Take into consideration cultural differences and local traditions.
  • 15. Political instability, high national debt, inefficient red tape, financially troubled banks. It is partly true, but in many cases news are magnified by the media. Invest wisely but Italy needs foreign investments and there are good business opportunities Don’t be scared by bad reports or news
  • 16. Government and Regions offer in certain sectors, incentives and tax benefits to foreign investors. Check out and take informatino from reliable sources before doing any new investments . Check available incentives and tax benefits:
  • 17. Individuals transferring their tax residency in Italy can take advantage of a yearly flat tax of € 100,000. Family members will pay a flat tax of just € 25,000. The new regime guarantees full exemption from reporting requirements with respect to financial and non-financial assets abroad and from succession duties on assets outside Italy. Favourable Flat-Tax regime for new residents
  • 18. 18 Houses for 1 Euro Terms and conditions: 1. To stipulate a public deed within two months 2. Support all expenses for the drafting of the deed 3. Prepare a project for the renovation and recovery 4. Start work within two months from building permit
  • 19. Business Opportunities in Italy 2018-2030 4.
  • 20. 20 TOURISM • 33% of world tourist visit Europe • 60 million tourists in Italy in 2017 • By 2020, China will be the country in the world with the most tourists traveling abroad (200 Million forecast)
  • 21. 21 • 25% Italian companies provide green products/services. This number will rise 7% each year in next 7 years. • In Italy, total volume of trade in green industry is expected to reach 22 Billion in 2020 Green Economy
  • 22. 22 Aging Society • The declining birth rate, combined with longer life expectancy, has left Italy with a significantly older population. • Nearly 60 per cent of residents are 40 or older, while nearly 23 per cent are over 65. • In 2030, 30% of population will be older than 65
  • 23. - Bloomberg predicts that electric cars and plug-in hybrids could come to represent 54% of new vehicles sales by 2040 - ING Bank estimates that electric cars shall account for all new vehicle sales by 2035 - France committed to ban new petrol and diesel car sales by 2040 - Volkswagen targets sales of 2-3 million electric vehicles annually by 2015 - Renault-Nissan-Mitsubishi will launch 12 new electric models by 2022 Electric vehicle market
  • 24. - Ecommerce in the EU increased by 15% to €530 billion in 2016 - Ecommerce sales in Western Europe will rise from $96.29 billion in 2016 to $218.26 billion in 2021 - Ecommerce revenues in Italy is expected to grow from roughly 10 billion USD in 2016 to roughly 16 Billion in 2021. Ecommerce
  • 25. VISA OPTIONS FOR INVESTORS Visit or Move to Italy? 4.
  • 26. 26 First, for any kind of Visa ..... size matter!
  • 27. SCHENGEN VISA or ALLOWANCE (TOURISM/BUSINESS) DO I WANT TO STAY MORE THAN 90 DAYS WITHIN 180 DAYS? TRAVEL TO ITALY EXIT THE COUNTRY NATIONAL VISA Yes SPEND THE ALLOWED TIME IN ITALY REGISTER WITH POLICE/APPLY FOR RESIDENCE PERMIT LIVE IN ITALY/STAY MORE THAN 90 DAYS No
  • 28. VISA OPTIONS FOR INVESTORS Do Business Invest or Donate No Work Self- employment work permit Investors Permit Elective Residence Permit Employment work permit set up a company buy existing company establish or join a startup donate 1M in public interest 2M in gov. bonds 1M in company or 0,5M in startup Buy/rent property Meet the requirements
  • 29. VISA OPTIONS FOR INVESTORS – Do Business Do Business Self- employment work permit Employment work permit set up a company buy existing company establish or join a startup Buy Existing Company » Buy/Invest in Italian company… » with at least 3 years of activity » in good standing » SRL (Ltd) or Spa (Inc.) » be appointed as Chairman; CEO; Member of board or Auditor
  • 30. VISA OPTIONS FOR INVESTORS – Do Business Do Business Self- employment work permit Employment work permit set up a company buy existing company establish or join a startup Establish or Join a Startup » proof of financial resources (at least €50,000) to be used for starting business » business plan for innovative start- up (core business: development, production, innovative goods/services, high technological value
  • 31. VISA OPTIONS FOR INVESTORS – Do Business Set up a Newco or Branch » Company: min. capital €10,000 (but higher capital advisable) » Branch Obtain a work permit as company’s employee Do Business Self- employment work permit Employment work permit set up a company buy existing company establish or join a startup
  • 32. Invest or Donate Investors Permit donate 1M in public interest 2M in gov. Bonds (2 years) 1M in company or 0,5M in startup Invest or Donate » evidence of being the beneficial owner » Amounts to be readily available and transferable to Italy; » commitment to use the funds within 3 months from entry into Italy; VISA OPTIONS FOR INVESTORS – Invest or Donate
  • 33. VISA OPTIONS FOR INVESTORS – No Work No Work Elective Residence Permit Buy/rent property Meet the requirements Elective Residence Visa » Have a property or rent a house in Italy » You cannot work in Italy » income not less than € 31,000/year (not salary), deriving from savings, pensions, investments » Income must be steady and likely to continue in the future
  • 34. Avv.Marco Mazzeschi Website| www.mazzeschi.it Email |mm@mazzeschi.it Tel| +39.0577.926921 Weibo| @mazzeschi 34 MazzeschiSrl is partnerwith http://www.investintuscany.com/ Tel:+39.055.4382425/5642 Fax:+ 390554384135 Email:info@investintuscany.com Milano | Roma | Firenze | Taipei

Editor's Notes

  1. Main principle of the EU structure - 4 freedoms: freedom of movementsof capitals, services, good and people
  2. China exports have become more chinese. In 2000, only 55% of thier value was added in China (most of the remainder was embedded in parts and components that China has imported and assembled). The value added in China now has grown to approximately 67% China’s industrial masterplan “Made in China 2025” aims to turn the country into a “manufacturing superpower” over the coming decades. This industrial policy will challenge the economic primacy of the current leading economies and international corporations. The strategy targets virtually all high-tech industries that strongly contribute to economic growth in advanced economies: automotive, aviation, machinery, robotics, high-tech maritime and railway equipment, energy-saving vehicles, medical devices and information technology to name only a few
  3. If you purchase a property under construction, the seller must give you by law a bank warranty for the same amount paid valid until Clsoing is finalized. This is to guarantee you in case Seller goes bankrupt or cannot complete the project. The Seller is also liable for major defects for 10 years after Closing.
  4. Differently from many other countries, many information about companies are publicly available in Italy. WOULD YOU BUY A SECOND HAND CAR WITHOUT CHECKING IF THE ENGINE WORKS? So, why doing business with a party without checking his status, history, financial situation?
  5. A research conducted recently by the MIT shows that true stories take on average six times longer than fake news to reach people Also fake stories were shared 10 times more than true stories. Things spread through social networks because they are appealing not because they are true.
  6. 43.7% of the population (aged 18-74 years) spoke English, while another share of people spoke French (21.7%), German (4.8%), Spanish (4.5 %) or other languages (2.1%). Statistics show that there are now about 150 schools providing Chinese courses in Italy, according to Guangming Daily. About 340,000 Chinese are living in Italy
  7.  3.79 million Chinese tourists visited Italy in 2016, about 4 million in 2017, making the Mediterranean country the fourth destination of choice after Germany, the U.S., and France Travel & Tourism is expected to have attracted capital investment of EUR9.5bn in 2016. This is expected to rise by 0.3% in 2017, and rise by 1.8% pa over the next ten years to EUR11.3bn in 2027. Travel & Tourism’s share of total national investment will rise from 3.3% in 2017 to 3.5% in 2027.
  8. In 2015, according to Eurostat, 17.5% of national energy consumption was covered by renewables, more than France, Germany and UK and the share of renewable energy in electricity production reached 40%. Waste recycling: the highest rate of inert waste recycling, which represent the largest share of waste produced by a country, reaching 76% against 69% of Germany and 61% of France. Italy is one of the world's leading producers of quality food products, also for the environment. The organic agricultural land is about 1.4 million hectares, 11% of all agricultural land used in Italy, one of the most extended in the world, with more than 50,000 workers employed in the sector. Certified food products, Italian PDO and PGI, account for 33% of the EU total production, showing excellence with a production value in 2014 of over 13 billion euros and an export value of 7 billion euros. In the ISO Survey 2015, Italy is the 3rd country, after China and Japan, for the number of ISO 14001 certified businesses worldwide (1st in Europe). In 2016, almost 1.800 Italian companies are EMAS – environmental management system – registered. (almost 25,000 ISO 14001 certified companies)
  9. the older population who are ‘responsible for 40% of the consumer demand’ in the UK ‘spending £200 billion per year’. The key sectors that have been identified as likely to benefit from the ageing demographic are those in which “companies are able to help consumers achieve more independent lifestyles” And more specifically, “healthcare and pharmaceuticals, leisure and tourism and financial services” have been singled out as being particularly attractive to older consumers alongside “consumer goods, food and beverages, retail and technology” robotic solutions, which aim to augment human presence in the care sector and act as companions with the potential to prevent loneliness. (GORE) wireless sensor networks with related response teams personal services tailored to the individual such as companionship, walks, and weekly grocery shopping. By the end of this decade, the spending power of consumers aged 60 and older will hit $15 trillion globally, up from $8 trillion in 2010, U.S. consumers over 55 spend twice as much as Millennials Forbes, sectors that where to invest: senior housing; urban life sciences clusters; pharmaceuticals; and biotech and technology-enabled medical services and devices Real estate: growing demand for independent living communities, assisted living communities and nursing homes.
  10.  - Ecommerce has huge margins of growth in Euope: only 15% people shop online from another EU country Only 7% small business sell goods or services across EU borders EU is investing on a Single Digital market, for example promoting and financing investments in broadband infracstructures At the end of June 2016, overall broadband and fixed broadband coverage remained relatively unchanged at a total level. In rural areas, overall broadband coverage increased by 1.5 percentage points, but no increase in rural fixed broadband coverage was registered in the same period. NGA broadband coverage increased considerably, both nationally and in rural areas, rising by 31.3 and 12.9 percentage points, respectively. Yet, despite this significant growth, Italy remained below the EU average for NGA broadband coverage, both nationally and in rural areas.