How and what kind of business to open in Italy

Many foreigners who have decided to buy property in Italy not only for vacation, but also with the prospect of moving to a permanent place of residence, are also thinking about stable sources of income. With a fairly high level of unemployment, when even native Italians experience certain difficulties in finding employment, hired work does not seem to be the optimal solution to the problem. In this regard, the question arises of how and what kind of business to open in Italy in order to provide a decent lifestyle for yourself and your family.

It should be taken into account that in Italy there is no Golden Visa program, thanks to which you can obtain a residence permit in Spain, Portugal, Greece, Malta and Cyprus. Therefore, the most preferable and pragmatic form of emigration to Italy is to organize your own business – especially since the country has had a law in force since the summer of 2002 that simplifies the corresponding procedure. Suffice it to say that within the framework of this law, an entrepreneur who has registered a legal entity receives a temporary residence permit, and after two years of successful work without claims from the tax office and other government bodies, he can apply for permanent residence in Italy.

How and what kind of business to open in Italy

In order to open a business in Italy, you will first need to register with the Chamber of Commerce and Industry, providing a bank statement in excess of 16 thousand euros. After this, a business visa (lavoro autonomo) is issued at the Italian consulate, for which it is necessary to collect a package of documents, which, in addition to the standard set (application form, passport, photographs, etc.) includes confirmation of sufficient funds for living, a certificate of ownership and a detailed business plan. As a rule, all these bureaucratic procedures take no more than three months.

However, before this, you should finally decide on the choice of economic sector and become familiar with the peculiarities of doing business in the country – at least, understand the mentality of Italians, so as not to subsequently learn from your own mistakes. And, of course, it is necessary to take into account that the Covid-19 pandemic has made adjustments to the usual course of life. As a result, those areas of life that previously looked like a win-win from an investment point of view may well turn out to be unprofitable.

First of all, we are talking about the hotel and restaurant business, organizing excursions and entertainment events, as well as the sale of luxury goods. Fitness centers, beauty salons, hairdressers and studios are still in question, since after the possible introduction of the next “quarantine” they will also be left out. In the recent past, 13% of Italy’s GDP came from tourism, and now the government of this country had to turn to the Council of Europe for financial assistance to primarily restore this sector of the economy.

How and what kind of business to open in Italy

Based on the widespread introduction of digital technologies, which, for example, is expressed in the transition to the so-called. “distance learning”, IT specialists will be in demand – accordingly, you can try to enter this market or engage in e-commerce. Many Italians are thinking about refurbishing their apartments or moving to a new place, so renovation and construction work, plumbing, electrical, design, car maintenance, household and computer equipment will also be in high demand. The south of the Apennine Peninsula lives mainly from agriculture, so livestock and crop farming also seems quite promising, despite the high level of competition.

It is also necessary to take into account the fact that Italians, despite all their openness and sociability, are very conservative in terms of choosing places to relax. Therefore, simply copying a successful business without original ideas and creativity will lead to bankruptcy in 90% of cases. The likelihood of such an outcome will be significantly lower if you invest in so-called “food trucks” – mobile cafes and restaurants that offer simple food on the go. Finally, you can open your own business in Italy as a franchise, working for a well-known brand with an established reputation.

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