Doing business in: Italy
Produced in partnership with Marco Mazzeschi of Mazzeschi Srl
Doing business in: Italy

The following Commercial practice note Produced in partnership with Marco Mazzeschi of Mazzeschi Srl provides comprehensive and up to date legal information covering:

  • Doing business in: Italy
  • Introduction
  • Business environment
  • Establishing a presence
  • Procedure to incorporation
  • Enrolment with Companies Register
  • Legal nature of a subsidiary
  • Financing a company
  • Insolvency and bankruptcy procedures
  • Purchase of real estate assets
  • More...

Updated in July 2020

Introduction

Italy is a founding member of the EU. It extends for 301,230 sq km and it has a strategic position at the heart of the Mediterranean Sea. It has a population of approximately 60.5 million people. The country’s main cities and metropolitan areas are Rome (2.4 million), Milan (1.2. million), Naples (959,000), and Turin (870,000). The majority of the workforce (comprised of approximately 25 million people) is employed by the service industry (70.4%%), followed by those engaged in industrial activities (25.8%) and agriculture (3.8%). The gross national income per capita is €33,560.

Italy is a parliamentary republic with a bicameral system. Presiding over the government is the Prime Minister, who is the Head of Government. The Parliament is composed of two Houses: the Chamber of Deputies and the Senate. The President of the Republic nominates the Prime Minister which is elected by the Parliament and holds the position for seven years. General polls for the election of the Parliament are held every five years.

Italy has a civil law system. Its sources of law are the Constitution, Statutes, Secondary regulations and EU regulations (which are directly enforceable and do not need any act of implementation) and EU directives (that need to be implemented through a Government or Parliamentary act).

The country is divided into 20 regions and each region, according to the Constitution, is

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