I can underscore to our international readers that Italy has implemented an interesting Startup Law to encourage the creation and development of innovative international startups whose business is based on technology.
The Law article 25.2 includes innovative startups whose business is linked to innovation and technology and not all new companies.
The Italia Startup Visa policy is designed to help our country will become a global Hub for international investment and talent and provides a process for non-EU players to found innovative startups in Italy.
Italian Law ensures tax relief on seed and venture capital investments, equity crowfunding provisions, substantial guarantees on bank loans, employment law benefits, etc.
Startup Limited Companies shares may not be listed on a regulated market or multilateral trading system, new enterprises or no longer than four years operating, place Head Office in Italy, annual sales of less than five million euros, not distribute profits.
2013 Flow Decree allows a new type of entry in Italy for self-employment that is “foreign citizens to establish innovative startups in accordance to Law 221 of 17 December 2012, who meet the requirements envisaged by that same law and who will entering into a self-employment relationship with the enterprise concerned.”
Startup Company, first of all I suggest to verify Italian Law 221 prerequisites, chooses direct way application for I.S.V. or try to be host by Certified innovative startup Incubators.
Applicants must submit requested documentation to the diplomatic consular mission in their countries.
In brief I.S.V. main eligibility requirements are Certificate of No Impediment issued by Italia Startup Visa Technical Committee, documentation attesting possess of certified financial resources of at least 50,000 euros to develop innovative startup, evidence of a suitable accommodation in Italy as Presidential Decree 445/2000 rules, evidence of income earned during previous financial year in their country higher than 8,400 euros.
If startups have a Certified Incubator availability shall obtain an undertaking signed by its legal representative and by that way Committee shall issue the Certificate of No Impediment.
The complex procedure as you see requires a qualified counselling support in Italy also in the after VISA life of the Company.
More information about I.S.V. and application process shall be obtained by Italian Government official website www.italiastartupvisa.mise.gov.it.
So let’s take the chance to start your innovative business close the areas of “our” Rome Colosseum or Milan Duomo, Naples Maschio Angioino Castle, Sardinia and Sicily beautiful landscapes and so on.