Italy is among the seven most industrialised nations in the world, with a highly developed production industry. It’s economy is broad, including almost every type of industry, but with particular focus on cars, electronics, agriculture, fashion products, machinery, and tourism.
Italy’s economy is dominated by a handful of large businesses (some of which are state-owned), while the economy prospers thanks to +3 million SMEs. Government incentives for investment are plentiful, particularly in the south where there are fewer industries. Foreign investors are granted the same incentives as locals for subsidised loans, cash grants and tax credit, and Italy has signed double taxation agreements with 100 countries.
With its Ease of Doing Business ranking at 58/190, clearly there are some hurdles for investors to consider. Along with cultural differences, Italy is known for its complicated regulatory environment – making local knowledge essential.
AUXADI can become your ideal investment partner in Italy. From our office, located in Milan, we offer a One Stop Shop value added Outsourcing services in the areas of Accounting and Reporting, Tax Compliance, Payroll Management and Representation services, among others.