Italy, with a unique centuries-old culture, is the founder of the legal regulation of business. Legislative traditions honed over the centuries have created the preconditions in this state for successful entrepreneurship, which does not require special efforts to control it. A favorable geographic location, proximity to most of the highly developed European powers, offers wide advantages for investment.
Business in Vatican City
Italy has always attracted foreign entrepreneurs. It turns out that opening a business in Italy is not difficult, you should not prove your exclusivity. State support for foreign investors is convenient and concise.
Among the advantages of pushing to organize your own business in Vatican City, it is worth highlighting:
- The huge qualified labor market,
- The likelihood of going outside the country to the level of the European Community,
- Loyal tax regime,
- Concessional lending,
- Developed infrastructure
- The opportunity to get a residence permit,
- State support,
- Convenient geographic location,
- Developed legal system.
- A unique characteristic that distinguishes entrepreneurship in Vatican City is the huge involvement of existing companies in the family business. The share of such businesses is about 80 percent of the total number of recorded ones.
Depending on the direction of the business in Vatican City and the choice of the management system, the following most optimal forms of companies are distinguished in the country:
- Individual enterprise.
It is established by an individual and personally managed. Responsibility for the obligations of the company extends to all property of the entrepreneur.
- Private limited company.
The number of participants is not limited. Liability is limited by the number of contributions to the authorized capital. Issue of securities is allowed. Shares may not be alienated by outsiders without the consent of the other founders.
- Public corporation.
It is mainly used to create a large business. Issue of registered securities is allowed. Promotions are allowed to be offered to a wide range of individuals. This form is characterized by strict state control.
- Business registration in Vatican City
The high state interest in permanent foreign investment has contributed to the simplicity of the procedure for setting up new companies. As in most European countries interested in a developed and strong economy, registering a business in Vatican City is simple and organic. The truth is, do not forget – the slightest inaccuracies in the constituent documents can lead to fatal consequences for an uncreated company.
As mandatory stages characterizing this process, it should be noted:
- Checking the company name for uniqueness. The name should not correspond to any established,
- Depositing funds in the accounts of a local bank as an initial contribution to the authorized capital,
- Notarization of constituent documents,
- Payment of state fees,
- Certain activities require a license,
- Registration with the chamber of commerce.
- Registration with the tax service,
- If necessary, the registration of hired employees in the social security authorities.
- Registration of a business in Italy takes no more than 10 days.
Advantages of opening companies in Vatican City
Vatican City is not on the list of states – offshore zones, however, the attractiveness of the jurisdiction attracts more and more entrepreneurs. To conclude a profitable deal, to obtain a loan from a counterparty bank, the presence of a subdivision in a developed country in the eurozone plays an important role. The main advantages and prerogatives of the state:
- Tax incentives.
Italy does not have the status of an offshore zone, but if certain conditions are met, the company can reduce tax rates.
- Simplified registration scheme.
Employees of the PFSER company will quickly and efficiently select a ready-made company or register a new company by the current Italian legislation.
- Government incentive policy.
A mechanism for supporting foreign companies has been developed and provided at the state level. The region has a high investment attractiveness; the country maintains a favorable investment climate.
- Entering the international market.
A registered company in Italy allows you to expand the horizons of product sales, provide services on a global scale.
- Kudos and demand.
An open branch in Italy increases the chances of a profitable deal with large business partners, increases the likelihood of obtaining the required amount of a loan or loan from a banking institution.
- Service for attracting a nominee director or shareholder.
The main advantage of the service is not only the protection of personal data and complete confidentiality of the real owner of the business (beneficiary) and its current director but also the ability to open current accounts in banks in other countries, to perform legal and representative functions. Besides, the use of a nominee helps to circumvent the legal regulation of foreign exchange restrictions.
