Starting a small business in Italy has its hassles but the government provisions and incentives announced recently are making it more lucrative to start a business in Italy. Knowing the language and being familiar with the Italian market is always a plus.
In case you are looking for a comprehensive list of everything that you need for opening a small business in Italy then you have come to the right place.
Check out also this article about small business opportunities in Italy, for more information.
Things You Will Need To Start A Small Business in Italy
- An Accountant Who Is Well-Versed with Tax Laws and Procedure in Italy
While setting up a business, navigating the tax scene in a foreign country without a professional accountant might be extremely difficult so it is essential that you search for and hire the best accountant you can afford before starting a business in Italy 2021.
- A Business Plan Should Be in Place
Forging ahead on moving to Italy and starting a business in Italy in 2021 without having a business plan in place is not a good idea. For a business plan to come together one must survey the market for that business, study the clientele for the business and then make a list of goals to be reached. This groundwork is crucial and embarking on a journey of moving to Italy and starting a business without this in place can be tough to do.
Decisions also have to be made about the kind of business you want to run – whether you want to operate as an individual or as a company. If you want to function as a company then what kind of company your business will fall under and many more. The amount of capital to be invested will depend on the kind of company you need to set up.
- Set Up A Bank Account in Italy
Before starting a business in Italy in 2021, you must have set up a bank account in which you can deposit your capital. Italian laws entail that 25% of the capital must be deposited into the account of an individual who wishes to set up a business in Italy no matter what kind of company it is.
- A Long-Term Permit Is A Must
Starting a business in Italy in 2021 will only be possible when you have a long-term permit to stay and conduct business there. This should ideally be one of the first things that you do when you think about moving to Italy because all other steps will be rendered ineffective if you do not have a valid permit to live and work in Italy.
- Set Up an Email Address
An official email address for your business has to be set up for you to be able to set up a small business in Italy. This is where all the official notifications and communications will be sent to you. This email address is recognized by the government as the way to reach you with all notices and concerns about your business.
- Get Your Company Registered
Getting your company registered is one of the first things you must do. This will make it legal for you to conduct your business in Italy without any hassles. You must gather all the documents required to carry out the registration procedures and keep them ready. This will streamline the process of registering your business for you.
You might be setting up a small business but the ordeals coming your way may not be small. So, it is best to be prepared with all you can so you can deal with problems that come your way. You can always seek professional help whenever required but you must be careful to see that you do not miss any deadlines or documents. This will make the hurdles to setting up your business in Italy less daunting. Starting a business in Italy in 2021 will not be a far-fetched dream if you follow all the rules.