Major points about Italy business visa
Do you need a Italy Business visa? Here's some information for foreign citizens who intend to travel to Italy and want to know Italy business visa documents or how to apply for Italy visa.
Through a guided procedure, on the basis of nationality, country of residence, reasons for the visit and length of stay, you will know whether or not it is necessary and how to apply for Italy visa. In case you need to apply for an entry visa, you will be provided with all the information and forms necessary for the application. According to Italy visa requirements the submission of the required documentation does not necessarily lead to the issuance of the visa. Upon entry into Italy and the Schengen area, even if in possession of a visa, the border authorities are authorized to request proof of the Italy visa requirements for obtaining the visa itself.
10 good reasons to invest in Italy and apply for Italy business visa:
1. one of the world's most important economies and markets
2. a strategic center at the crossroads of international markets
3. a leading country in manufacturing and exports
4. the strength of the 'made in italy' brand and the machinery sector
5. excellence in research and innovation
6. a highly qualified and competitive workforce
7. an unparalleled artistic and cultural offer and a unique country brand
8. a solid set of pro-innovation and competitiveness policies
9. a public administration on the side of businesses
10. a country open to foreign investment
The Budget Law for 2017 introduced several measures aimed at increasing the attractiveness of our country for international flows of human and financial capital. This body of legislation presents a measure of particular relevance for those interested in the Investor Visa for Italy program: a facilitated tax regime for foreign citizens with high tax capacity who intend to transfer their residence to Italy.
Article 24-bis of the Consolidated Income Tax Act (TUIR) provides, in fact, an optional tax regime that allows new residents to pay, for the entire income generated outside the Italian territory, Italy business visa fees require an annual lump sum of € 100,000, instead of the amount due under the ordinary tax rules.
All individuals who decide to move their tax residence to Italy may opt for this regime, provided they have not been resident in the country for at least nine of the last ten years. Interested parties may, in addition, request a specific prior appeal to the Revenue Office.
According to Italy business visa fees, the lump sum of €100,000 must be paid in a single instalment by June 30 of each year and the taxpayer's dependents may join the scheme by paying a further €25,000 for each member of the household.
Once recognized, the benefit is valid for 15 years, without prejudice to the possibility for the taxpayer to renounce it at any time, and it automatically lapses in case of non-payment, partial or total, of the sum.
All individuals who decide to move their tax residence to Italy may opt for this scheme, provided they have not been resident in the country for at least nine of the last ten years. Interested parties may, moreover, request a specific prior appeal to the Revenue Office.
The lump sum of €100,000 must be paid in a single instalment by June 30 of each year and the taxpayer's dependents may join the scheme by paying a further €25,000 for each member of the household.
Once recognized, the facility is valid for 15 years, without prejudice to the possibility for the taxpayer to renounce it at any time, and it automatically lapses in case of non-payment, partial or total, of the sum.
The facilitated regime covers, among other things, inheritance tax, with reference only to assets located in Italy, and transfers of assets from third countries, which are exempt from tax. The beneficiary may also decide to waive the option for income and revenues generated in certain countries, for which the ordinary rules will apply.
Finally, the benefit is compatible with employment and other professional activities carried out in Italy, whose income will be taxed according to the ordinary rules in force.
You will also find information on how to request a prior appeal, the checklist to be attached to the form for Italy visa application and the instructions for its compilation.
The incentives introduced by the National Plan Industry 4.0 have made the Italian tax system one of the most favorable in the world for companies engaged in digital investments (Digital Tax Index 2017): the benefits of which it is composed, activated automatically by all types of companies with a view to simplification, reward companies that invest, especially if in innovation.
Alongside the tax incentives, the Plan includes a broader spectrum of measures dedicated to different categories of businesses, from technological startups to multinationals. The five tax measures described in the following boxes represent the cornerstones of the Plan:
1. Investments in innovative startups and SMEs are eligible for tax breaks. Investments in the venture capital of innovative startups and innovative SMEs benefit from a significant IRPEF deduction or deduction from IRES taxable income, depending on the legal nature of the investor. The deduction/deduction amounts to 30% of the investment, up to a maximum of €1 million for investments by individuals and €1.8 million if by legal entities. The incentive applies both to direct investments in the risk capital of companies and indirect investments through UCITS, venture capital funds and other companies that invest primarily in innovative startups and SMEs.
2. Super-amortization. This is a 40% increase in the value of investments in new machinery, consisting of an increase in the acquisition cost for accounting purposes for calculating depreciation. As the costs of these assets are subject to tax relief, this mechanism determines a net and lasting reduction in the tax base and, consequently, in tax charges.
3. Hyper-depreciation. Similarly to super-depreciation, hyper-depreciation consists of a 150% increase in the value of investments in capital goods, which results in significant tax savings. This measure is applicable to specific tangible goods, devices and technologies enabling the transformation of industrial processes in key 4.0 - for example, machinery capable of exchanging information with other systems through Internet of Things technologies. Companies are thus incentivized to digitally transform their production and distribution processes.
4. Tax credit for Research and Development. Companies that increase their R&D costs in the period 2017-2020 benefit from a 50% tax credit on such incremental expenses, up to a maximum ceiling of 20 million euros per year. The measure applies to expenses for fundamental research, industrial research and experimental development, including personnel costs, research contracts with other entities and industrial patents. The tax credit may be used, even in the event of losses, to cover a wide range of taxes and contributions.
5. Patent Box. This is a special and optional taxation regime that provides for a 50% reduction in tax charges on income deriving from the direct or indirect use of intangible assets such as industrial patents, industrial designs, know-how and software protected by copyright. In order for the benefit to be recognized, it is necessary for the income deriving from intangible assets to be clearly linked to an R&D activity (so-called nexus ratio). Normally, the incentive is granted after a preliminary assessment by the Inland Revenue.
According to Italy Business visa requirements, to obtain an investor visa, you must have a Nulla Osta to the visa, which is issued by the Investor Visa for Italy (IV4I) committee through this portal. Once you have obtained the Nulla Osta, you can go to the Italian diplomatic office of your country of residence to apply for an investor visa lasting two years.
The following are Italy Business visa requirements and process to apply:
1. Create your personal account on this portal and follow your Italy visa status;
2. Fill in the forms (contact details, CV, choice of investment type, etc.) and upload the required Italy business visa documents (passport, proof of financial resources, certificate of pending charges, etc.)
3. Download the final statement, validate it with digital signature, and submit it through the portal.
Second step. Verification of compliance, the Committee Secretariat will notify you:
1. Approval: the application form for Italy visa and documentation is complete and compliant, and can be evaluated by the Committee;
2. Request for integration, to be followed up within 30 days. In this case the application is suspended;
3. Rejection of the application by the Committee.
Third step. Evaluation, the outcome of the Committee's evaluation will be communicated to you within 30 days of the submission of the application. To check your Italy visa status here are three possible outcomes:
1. Approval of the application: you will be able to download the Visa Clearance through your personal page in the portal.
2. Request for integration, to be followed up within 30 days. In this case the application is suspended.
3. Rejection of the application by the Committee.
Fourth and final step. Issue of visa, from the receipt of the Nulla Osta you have 6 months to apply for an investor visa at the nearest diplomatic representation. You will need to submit your clearance and Italy business visa documents for application. You will be able to use the visa to enter Italy within 2 years of its issue.
There are also some Italy visa free countries. Here is the list of Italy visa free countries: Albania, Andorra, Antigua and Barbuda, Argentina, Australia, Bahamas, Barbados, Bosnia-Herzegovina, Brazil, Brunei, Canada, Chile, South Korea, Costa Rica, Croatia, El Salvador, Former Yugoslav Republic of Macedonia (FYROM), Japan, Guatemala, Honduras, Hong Kong, Israel, Malaysia, Macao, Northern Marianas, Mauritius, Mexico, Moldova, Monaco, Montenegro, Nicaragua, New Zealand, Panama, Paraguay, Saint Kitts and Nevis, Serbia, Seychelles, Singapore, United States, Taiwan, Uruguay, Venezuela, but only in the case of short stays (maximum duration of 90 days) for tourism, mission, business, invitation and sports competition. For long stays (over 90 days), all foreign persons must always have a visa.
Aytan lives in Milan, Italy for 3 years now and has always been passionate about traveling and discovering new beautiful places all over the world. As of 2020, she has been to 10 countries and numerous cities which she lost the number of but the majority of them are definitely located in beautiful Italy. She loves digital marketing, art, music, and tries to find beauty in the smallest moments of our life. Her recent interest in spiritual growth has taught her one simple truth: "The most beautiful things in life are abstract." So, surely we can add travel to the list of these most beautiful things!