Picturesque Italy with an amazing atmosphere attracts hundreds of thousands of tourists annually. This is a country of unique color and great opportunities. As a member of the G-7 the state has serious economic potential.
Italy’s doors are open to business immigrants who help the country grow its economy. The flow of tourists and foreign investment is increasing every year. The start-up ecosystem of Italy does not stand still.
Thanks to the promotion of research and new innovative enterprises, the share of foreign investment in Italy has grown significantly. Italy ranks second in the European Union for loyalty and tax benefits for small and medium businesses. It also contributes to a favorable investment climate in the country.
An important role in progressive economic policy is played by Italy’s developed start-up ecosystem. The state has created all the necessary conditions for the implementation of the ideas of business immigrants. Therefore, the doors for innovative start-ups and their founders are opened by the “start-up visa to Italy” program.
Italian Startup Visa (IVS) is a real opportunity for an entrepreneur, not an EU citizen, to realize his innovative idea in one of the most developed countries. The founder of the start-up, along with a visa, gets a real chance for business immigration with his family.
In addition, according to one application for a start-up visa, up to 5 founders can immigrate to Italy. At the same time, the creation of an innovative project in Italy remains a mandatory condition. It is also important to note the project’s rationality and feasibility. It’s not even necessary to invest your own funds.
In Italy, crowdfunding is developed, that means that start-ups can attract investment through online platforms. Moreover, venture capital funds and government agencies can invest in start-ups.
Business incubators also help at all levels, from the approval of an idea to its implementation. They consult a business immigrant and launch a start-up.
Interestingly, the legislation provides benefits for participants of the “start-up visa to Italy” program. For example, the opportunity not to pay for stamp duty and for providing administrative services when registering a start-up.
However, the project must definitely be beneficial for the Italian economy.
What do you need to get a start-up visa to Italy?
- application with a business plan that proves the start-up’s innovation, rationality and feasibility
- proof of the presence of 50 thousand euros (investment)
- turnover not exceeding 5 million euros
- start-up must be new.
A business immigrant’s application is first considered by a special Italian committee. It includes representatives of the Italian start-up ecosystem. They are checking if the start-up to meets at least one of the alternative requirements.
- product or start-up idea should be patented
- one third of the team must have a master’s degree, graduate student status or be engaged in science for at least three years
- more than 15% of the company’s expenses should be directed at research and development.
A start-up visa gives a business immigrant and his family a residence permit in Italy for 1 year. It can be extended for another two years. However, this requires evidence of the success and functionality of a start-up. After five years of legal residence in Italy on a residence permit, a start-up founder can ask for permanent residence. In this case, permanent residents receive almost the same rights as local Italians.
Thus, thanks to a start-up visa, an active entrepreneur with an innovative idea can establish his own start-up in Italy. Moreover, he does not even have to invest his own money for this.
As in Canada, in order to get a start-up visa and immigrate with your family to Italy, you need to prove the innovativeness, rationality and effectiveness of the project. And in Italian, as well as in the Canadian start-up application, up to 5 founders of the company can immigrate.
If you have interesting and progressive ideas for implementation in a European country, a start-up visa to Italy is your chance for success.