Italy is, according to the AIBE (Italian Foreign Banks Association) index, improving its attractiveness for foreign investors. The report redacted together with Censis and under the auspices of the Ministry for Foreign Affairs, sees an authoritative international panel rank Italy 8th out of ten countries examined. Over the previous year, Italy rose from 40.3 points to 43.5 (on a scale from zero to 100).
There is still much that can be done to improve Italian business environment. However, the percentage of those who consider Italy more attractive than last year increased by 3 points (from 28% to 31%); on the other hand, the share of those who consider it less attractive decreased significantly from 32% to 16%. The quality of human resources is the main contributor to the positive image of Italy (82% giving a mark between 7 and 10). In the second place, there is the strength of the banking system, followed by infrastructures and logistics quality.
Among the most attractive sectors, those ones which in “Made in Italy” is traditionally very strong are still the most appreciated. Italy is still identified with its fashion system (83.7% of the preferences) and with the agri-food sector (72%). The accommodation sector follows close behind (60.5%). The prestige of “Made in Italy” brands, the creativity, the innovation and the flexibility of some productions, the quality of the products and services offered are reported as the most important factors among those that led to the most important merger and acquisition deals in Italy last year.
The concerns expressed by the panel, mainly the fiscal burden for entrepreneurs and the bureaucratic intricacies, can still improve greatly but for the time a small step in the right direction has been made thanks to the new visa program. In fact, following their investment in an Italian company, foreign investors can now request a visa through a vastly simplified procedure; if they are willing to transfer their fiscal residence in Italy, they can benefit from significant tax advantages which can be extended to their families.
Investorvisa.it is championing the cause of “Made in Italy” and offering non-EU entrepreneurs an ever-expanding catalogue of investment proposals.