How to start a real estate business in Italy
The property market in Italy is among the largest, both in terms of touristic renting and future investments. The nation's immense cultural heritage, breathtaking views and exquisite food entice tourists from all over the world to explore, and invite many to call it home. Non-resident business owners interested in investing in Italian real estate should be aware of the industry's numerous advantages - both juridical and economical.
Italian real-estate companies are established as limited liability companies or, more precisely and in Italian, società a responsabilità limitata (Srl) or società per azioni (spa). Both of these are provided for according to standing Italian legislation.
The primary aspect of these business structures is that both types entail that the company’s shareholders’ liability is exclusively restricted to their stake in the company itself. As a result, they will not be deemed personally accountable for the business's debts that transcend the scope of their ownership (based on the capital percentage). The formation of these organizations implies a variety of essential aspects, such as the preparation of the constitution and memorandum of the company and the collection of the financial resources in a provisional financial institution, as well as the legalization of the Articles of Association by notaries, signing off of the firm’s Constitutive Act, and the corporation's registration with the Italian Company registrar.
In addition to this, there may be specific certificates and licenses required for set enterprises, bed and breakfasts, hotels, or farm vacation lodgings for instance. Only once all the above documents and administrative provisions are correctly made can the business actually make its debut.
Should the company in question intend to sign up a trademark in connection with it, the trademark owner (the company representative in case of a firm) or a state constituted lawyer (in the capacity of full and unconditional authority) is required to apply to the Italian Trademark and Patent office for registration of the same. The request must comprise the trademark per se - that is, the phrases, pictures, signs, or audio that can be used to differentiate the company's services and products from rival businesses - all of which are to be accurately documented in the record.
Such products and services adhere to the (NCL) Nice Classification used in the application for trademark licensing. Protection granted is restricted to use the employment of the trademark as concerns the products & services specified in the original registration request, and the restrictions pertaining to protection determine the fee of registering or the list of products & services covered. One may renew the registered trademark every ten years (maximum validity timeframe) for an indefinite period.
The registered trademark is protected within the boundaries of the Republic of Italy if the Italian Trademark and Patent Office validate it. For EU trademark (EUIPO) registration, one must submit a request to the European Union Intellectual Property Office.
The above described procedures, and running of a business per se, necessitate substantial financial commitments. Thus, when considering starting a business in the Italian Republic, a sensible investor will want to evaluate distinctive and productive SME and entrepreneurial initiatives of the Financial Development Ministry in Italy.
Italian law maintains that an advanced SME meet preestablished requirements. These are: 1) its headquarters are located in the Italian republic or another member nation of the European Economic Area, however, has a manufacturing facility or outlet in Italy; 2) its most recent income reports and consolidated financial statements are validated; 3) it must not be classified on a market system, and 4) it must not be concurrently enlisted in more than one nation.
An innovative entrepreneurial start-up venture instead presumes:
- Research and Development Expenses equal to about three percent (at least) of the highest revenue and manufacturing costs.
- employment of highly qualified personnel (minimum of 1/5 of employed staff with PhD degrees or PhD students or researchers, and minimum 1/3 with master's degrees)
- the company proprietor, custodian or licensee holds at least one patent or a registered software.
Innovative small and mid-size enterprises and entrepreneurial start-up ventures may gain advantages from various and diverse tax and investment incentives including those related to investment in capital and/or easily available access to the Guarantee Fund for SMES, dispensation from stamp duties for Chamber of Commerce, raising of capital related to equity crowdfunding etc..
Finally, profitable and lucrative real estate management rests on expertise and understanding: in-depth awareness of market trends and thorough research of the assets available are critical. Comprising skilled professionals with extensive knowledge in the Italian property market, our team offers foreign investors strong, reliable counsel throughout the procedure, facilitating and expediting international customers’ endeavors by sharing our knowledge about the local property market and real estate companies, helping them locate the best agency and, eventually, the ideal asset. When we examine a particular location, we perform thorough expert assessments to determine the estate's legal standing, third-party and proprietorship rights, and constraints.
About our services
Our highly qualified accountants, savvy property managers, and insightful lawyers specialized in corporate law, property investment, and taxation proficiently guides buyers through the procedures of forming an Italian enterprise, and offers full support as regards the acquisition of property holdings and business administration in Italy.
Dedicated to our customers' satisfaction, we effectively assist, provide comprehensive services and expedite all negotiations and operations.
What we can do for you includes:
- Drawing up Power of Attorney documents, and representing your interests wherever and whenever;
- Comprehensive guidance and help for trademark registration procedures with the Trademark and Patent Office at the Italian Republic;
- Preparation of documents required by the Ministry of Financial Development to implement innovative small and mid-size enterprises and entrepreneurial start-up ventures in Italy;
- Financial reporting and record keeping services that are efficient, accurate, and thorough;
Extensive understanding of the market and its economic aspects, we offer relevant guidance and consulting services regarding real estate acquisition and observant technical support and lawful assessments regarding the prospective management.