Italian Dual Citizenship: About Italy Law Firms
Based in Italy, ILF specializes in providing non-resident foreign nationals with comprehensive legal assistance in a variety of fields, including, but not limited to, non-contentious transactional corporate and property law, visas and permit stays, and services related to applying for and obtaining Italian citizenship. The ILF team comprises proficient English-speaking Italian-qualified lawyers and attorneys with diverse and far-ranging professional backgrounds, as well as accountants, surveyors, notaries, and an English-qualified lawyer.
Across-the-board expertise, extensive knowledge of the world’s main legal systems, and language proficiency are what sets ILF apart: the team deals deftly with cross-border transactions and bureaucratic issues that imply having a full understanding of more than one country’s distinctive legal prerequisites and cultural differences, responding to client’s needs in a timely fashion and ensuring success.
Areas of expertise
Real estate services
Whether the deal involves purchasing or selling real estate, establishing a company, or finalizing an acquisition, assisting foreign nationals and companies who aim to invest in Italy by buying real estate is one of ILF’s fortes. Purchasing property is a momentous step, and dealing with Italy’s intricate bureaucracy and complex legal system as a foreigner can be difficult. ILF offers the insight and qualified proficiency one needs to successfully carry out any kind of property transaction, be it buying a vacation home or finding the perfect property and turning it into a thriving hospitality business.
The company’s reputation speaks for itself: over the years, ILF has assisted countless foreign investors helping them find and secure their dream Italian property, by leading them through the Italian red tape maze, streamlining processes, carrying out due diligence, and finally formalizing the offer and drawing up the final deed. Endeavoring to guarantee that foreign buyers enjoy a smooth, flawless, and successful purchase experience, ILF provides trustworthy, well-versed assistance in all areas of real estate law and beyond, including liaising with real estate agents, drafting and negotiating purchase offers, providing attentive legal and technical due diligence services, and arranging for renovation.
Setting up a business in Italy
ILF’s skilled attorneys and fiscal experts have the knowledge and insight it takes to help foreign investors set up a business in Italy and register a company trademark in a timely manner. Aside from providing assistance with legal and bureaucratic requirements, i.e. drafting and legalizing the mandatory “Articles of Association” and “Constitutive Act” and registering the company at the Italian Register of Companies, ILF assists foreign investors by providing invaluable insider information on convenient tax incentives, such as those reserved to entrepreneurs that establish a startup or an innovative SME. In Italy as elsewhere, starting a company and registering a trademark calls for a substantial investment, and this is why the Italian Ministry of Financial Development instituted specific financial programs designed to favor those who choose to open a startup or an innovative SME. Italian law defines innovative SMEs as those companies that meet the following requirements:
- a) are resident in an EEA country and have a production site or branch in Italy, or are resident in Italy;
- b) have certified their last financial statements;
- c) are not listed on a regulated market;
- d) are not registered in the special section of innovative startups.
Innovative startups, on the other hand, are those that:
- a) have invested in R&D and innovation in a measure equal to at least 3% of the higher value between its turnover and its cost of production.
- b) employ highly-qualified personnel;
- c) have an owner, custodian, or licensee who holds at least one patent or owns registered software.
Setting up an innovative SME or a startup can be extremely worthwhile because it allows an entrepreneur to benefit from tax incentives for investment in capital, access the Guarantee Fund for SMEs, be exempt from stamp duties for documents filed at the Chamber of Commerce, raise capital via equity crowdfunding campaigns, and other similarly significant advantages.
Visas and residence permits
Italy welcomes foreign nationals, as long as they comply with the conditions and prerequisites required to live and work in the country legally. Bureaucracy and rules are what make things knotty: complying with the law can be easy, as long as one understands the regulations. ILF lawyers and advisors specialize in helping foreign citizens find the path they need to follow to become legal residents in Italy. For instance, according to Italian law, Art 26 (2) Legislative Decree 286/1998, foreign nationals are allowed to “work in an industrial, professional, artisan or trade capacity, set up profit-making companies or partnerships, or become a company office bearer”. To do so, one has to be fully aware of the requirements, which depend on where one is currently living and her/his status. Non-residents will need to obtain a visa, while foreigners who already have an Italian residence permit will need to turn it into the kind that allows a longer stay and authorizes one to work as a self-employed person or establish a business. Whichever the case, ILF has the answers one needs, and knows how to streamline the procedures to make everything quick and hassle-free.
Tax and loan advisory services
The ILF team includes skilled tax advisors who offer invaluable assistance when it comes to getting a loan in Italy and reaping the benefits of novel and convenient tax regimes. Efficient, experienced, and in the loop, they know where and how a foreign national who wants to buy property in Italy can obtain a mortgage from an Italian bank and are able to advise their clients on favorable tax schemes. For instance, current Italian fiscal legislation provides specific flat tax regimes for expats, i.e. those who transfer their residence to Italy from abroad, and resident taxpayers who have a gross income lower than the thresholds established per type of business (regime forfettario). ILF can help foreign nationals who wish to relocate to Italy benefit from these regimes.
How to get an Italian codice fiscale quickly and easily
There’s one thing you can’t do without if you want to live or work in Italy, and that’s a codice fiscale, a personal Italian fiscal code. You need a codice fiscale to do virtually everything, in Italy, from buying a car to accessing the national healthcare system services to opening a bank account. Italian citizens who are born in Italy get one automatically, whereas foreigners need to apply for one, and doing so on their own, from abroad, can be time-consuming and annoying. If you need an Italian fiscal code quickly, just contact ILF: an expert English-speaking assistant will help you process your request and you’ll get your codice fiscale in no time.