Entrepreneurs Love To Set Up Business in Italy Due To Many Factors
Italy may be one of the most popular destinations for a vacation for many, but it is also popular for another reason – investments and as a thriving business hub. Italy has attracted hundreds of foreign investors to set up a business in the country for years, and because of the attractive business environment the country has, not to mention the abundance of opportunities, it is no wonder many entrepreneurs are keen to set up business in Italy.
Among the benefits that an investor stands to gain by establishing a business base in Italy include:
The Benefit of No Capital Gains Tax
The Italian tax regulations are one of the most attractive things that serve as the hook, line and sinker, luring entrepreneurs to the country. Such opportunity entices them to set up business in Italy. Investors who conduct business in Italy are benefitting because they do not have to pay capital gains tax or wealth tax.
Being a member of the EU and the G8 means Italy is a safe destination for investors to run a business, With 60 million consumers, this is the place to be for an investor thinking about expanding their opportunities.
Gaining Entry to the Eurozone
Milan, Turin and Genova form what is known as the industrial triangle, favorably positioning Italy near other rich areas which include the Rhone-Alpes and the core of the European heavy industry, the Rhine-Ruhr region.
Italy’s Flexible and Diverse Economy
Being in a strategic location plays a major role for Italy’s economy being as diverse as it is. International organizations conducting business in Italy will have access to both its internal market and the markets of Italy’s bordering countries. Tourism, raw mineral extraction and processing, textiles, car production and fashion are just some of Italy’s most vibrant sectors, and despite suffering the credit crunch in 2008, Italy has still managed to boast of a higher per capital income in the Union and has one of the highest export rates in the world.
The Supportive Government and Initiatives
Italy has a unique combination of both small and large companies, companies which are thriving because they can depend and count on support from the Italian government. Local businesses and government-backed groups have given rise to a unique economic landscape in Italy. Communicaid’s Doing Business in Italy cross-cultural awareness training course offers investors the tools to address the cultural barriers companies in Italy are likely to encounter.
A Well-Trained Labor Force
There’s no shortage of skilled labor in Italy, and investors will have no problem filling the available positions within a company’s ranks with the available talent pool in the country that is ready to take on and face the challenges of the business world.