Business immigration is one of the easiest ways of immigrating to Italy. Italy’s partnership and collaboration with the majority of world countries, including former USSR countries, enables foreign citizens to open their own business or purchase an existing business in Italy.
Business immigration is the most popular type of immigration to Italy; it gives foreign citizens a number of benefits with minimum requirements.
Immigration status cannot be granted automatically (opening a business in Italy does not secure immigration status). An applicant must prove his qualifications, ability to manage a profitable business and, most importantly, availability of a strong financial foundation. In spite of Europe’s acceptance of entrepreneurs from CIS, they still must go through red-tape procedures at the Consulate, the Chamber of Commerce and the Migration Services.
The main requirements for Business immigration / opening a business:
1. Availability of sufficient, legal funds. The requirements set by the Italian authorities for financial capability of applicants largely depend on the type of business and the region the business will be operating in. The amount can range between 10 000 Euro and 100 000 Euro and that deposit must be secured in the bank account of an applicant.
2. Proof of qualifications of an applicant (education and professional activity)
3. A legal address of the business – for its future registration. Apart from that, an applicant must have a permanent residential address in Italy, whether it is a rental or a purchased property. EUeasy provides services in obtaining the following documents:
- proof of no criminal history;
- proof of no infectious diseases.
Advantages of Business immigration to Italy:
- In Italy the most widespread types of business are a close joint-stock company, limited liability company and Individual Entrepreneurship.
- Internal policies of the government focus on family unity, therefore a foreign citizen who was granted Residence in Italy and who has accommodation and is able to support family financially is allowed to bring his/her spouse, children under the age of 18 and dependent parents to Italy.
- It is a convenient option: you don’t need to know or speak local language;
- If a foreign citizen continues to operate and develop his/her business and pays taxes and insurance fees in a timely manner, Residence can be extended every 2 years.
- At the end of a 5-year term a foreign citizen obtains Permanent Residence. In 7 years he/she is qualified to file for citizenship in Italy (10 years of Residence and 2 years of waiting).
Procedures for obtaining Residence for conducting Business Activity on the territory of the EU:
- Making a Business immigration plan
- Obtaining a permit from the Chamber of Commerce on the grounds of relevance, financial capability and a necessity to acquire licenses to open a legal entity or individual entrepreneurship in the chosen field.
- Consultation and assistance in preparing documentation at home, including a list of documents, filing procedures and notarization.
- Gathering and filing documents at home, including translation into Italian and notarization. A trip to Italy for 2-4 business days to sign relevant documents and register the business.
- Registration of the company without applicant’s personal appearance.
- Mailing documents about the company after obtaining them from the Chamber of Commerce
- Preparing documents and filing for visa
- Upon arrival to Italy – filing for Residence.