The Italian Government wants to support business owners by favoring entry in the country for work reasons. This political address extends the possibility of starting a business in Italy as a foreigner. All entrepreneurs with an interest in having a foreign partner or hiring a foreign specialized worker will be able to apply for entry into Italy following the rules provided by the new ‘flows’ Decree. The majority of work entry visas are connected to the construction and hospitality industries and to citizens of countries that have signed cooperation agreements on migration and business policies with Italy. Something new has been ruled for citizens of Italian origin residing in Venezuela. For them there are special entry conditions that can be explored by contacting a business law firm in Italy.
In the context of self-employment for entrepreneurs, the possibilities of entry for business reasons increase. According to the new rules, 500 shares are reserved for entrepreneurs, freelancers, holders of corporate offices, well-known artists, and foreigners who want to found new start-ups in Italy.
The law provision has been greatly appreciated by associations and entrepreneurs organizations in Italy and abroad, given how it increases the possibility of supporting skilled work for foreign companies based in the Italian territory. As a general rule, entrepreneurs and employees looking to invest in Italy and who may be of interest to the country’s economy are admitted. Admissions are also provided to freelancers who carry out high-quality professions as well as to foreign partners holding company shares or control positions within companies that do business in Italy. Internationally renowned artists and professional sports athletes are entitled to entry into Italy thanks to the new flows decree. Lastly, starting up a new business or having a relationship of self-employment within a company is also a way to obtain a long-term stay permit in Italy.
The entry quota for work reasons in Italy has more than doubled, but there are various other ways to start a business or to work in Italy. One concerns the reciprocity condition. Every foreign entrepreneur must be able to guarantee the Italian entrepreneur to do the same thing he wants to do in Italy. This possibility is granted by the mutual agreements stipulated by the respective countries. This condition concerns the possibility of opening a secondary branch or a representative office of the company, but it is also used for investments in real estate, monetary credits, international contracts, industrial property rights.
Having decided to obtain a residence permit in Italy for work reasons, you might want to stipulate a shareholders’ agreement in order to establish good relationships with your partners.
How to Choose a Good Shareholders Agreement for Your Start-up
A shareholders’ agreement is a contract that sets out the rights and responsibilities of the shareholders of a company. It can be used to protect both the company and its shareholders.
The agreement should be drafted by a lawyer who is experienced in this type of work. The lawyer should be able to answer any questions that you have about your particular situation. You should also consider getting advice from an accountant or other professional who is familiar with your industry. Having identified the right partners and established the company to start your business in Italy, an agreement with them is the next step to establish financial relationships aimed at protecting the business itself.
