Italy Startup Visa

Sep 27, 2023

Are you interested in “Italy Startup Visa”? Non-EU nationals intending to set up an innovative Startup in Italy can obtain a self-employment visa. Innovative is a company whose business model is characterised by a strong technological character and with has an exclusive or prevalent corporate purpose the production, development and marketing of innovative goods or services of high technological value.

Which “startup” company qualifies for the Italy Startup visa?

Not all “newly” established companies are considered “startup” for this purpose. Law 221/2012 defines “innovative startup” as a new enterprise of a high technological value. Innovative startup companies benefit of several administrative, fiscal and accounting advantages and are registered under a separate section with the Companies House (Registro Imprese).

Innovative is a company whose business model is characterised by a strong technological character and with has an exclusive or prevalent corporate purpose the production, development and marketing of innovative goods or services of high technological value.

What are the requirements for the Italy Startup visa ?

The first step is to apply and obtain a clearance (nulla osta) on the Ministry’s portal

http://italiastartupvisa.mise.gov.it

The applicant must:

✓ have documented proof of financial resources (at least € 50,000 to be used for the sole purpose of establishing and operating the startup (at least € 100.000 for joining an existing startup);

✓ Write and submit a detailed business plan for a company having as core business the development, production and commercialization of innovative goods or services of high technological value

✓ The new startup business must must be a limited company, based in Italy and incorporated under Italian law

✓ (i) either 30% of the Company’s costs are related to Research & Development, or (ii) at least one third of the Company’s team is made up of people who either hold a PhD or are PhD candidates at an Italian or foreign university or have conducted research for at least three year, or (iii) the Company is the owner or the licensee of a patent registered with the Società Italiana degli Autori ed Editori (Italian Society of Authors and Publishers — SIAE

If the application is approved …

next steps are:

1. apply for the VISA at the Italian Consulate where you are domiciled (you cannot apply in Italy or in the country where you do not have a residence permit)
2. within 8 days from your arrival in Italy, you need to apply for Police Registration (Permesso di soggiorno) at the Post Office;
3. after 1–2 months, the Police will contact you and fix and appointment for fingeprinting and filing the supporting documents;
4. after 2–3 months your Permit should be ready and you will need to collect it personally.

What benefits can I obtain for my company?

Italy’s Startup Law has set up a vast range of tools to help entrepreneurs establish their own innovative business, including:

• flexible labour law applicable to the whole startup’s life cycle:
• variable pay depending on the company’s performance
• workers and consultants can be remunerated with stock options, taxed only in the event of capital gain
• robust tax relief (30%) on investments fueling startups,
• possibility for innovative startups to raise money through equity crowdfunding portals (1st country in the world to make it possible),
• free, fast-track public guarantee on bank loans covering 80% of the sum

Additional Facts

• FAMILY: NON-EU family members of Startup permit holders are eligible to apply for a family residence permit
• EXTEND THE PERMIT: In order to be eligible for renewal, at the expiration of the one-year permit the applicant must submit a certificate of incorporation and articles of association of the innovative startup and evidence that the applicant has an adequate annual income from lawful sources (exceeding € 8,500 year).
• JOIN AN EXISTING STARTUP: Applicants intending to join a Startup already established, must make sure that (1) the investment is for at least € 100,000 (2) they are appointed in one the following positions: chairman; CEO; member of the board of directors or auditor (3) they will also work as self-employees for the company (i.e. as independent consultant) and receive a remuneration.

Useful resources

• Home (mise.gov.it)
• FAQ — FAQ (mise.gov.it)
• The Italian Startup Act (mise.gov.it)

Marco Mazzeschi

Attorney at law.
One of the leading corporate immigration lawyers in Italy. Admitted to the Milan Bar Association (1988) and to the Taipei Bar Association (2016), a member of the American Immigration Lawyers Association (AILA) and an accredited partner of Invest in Tuscany.

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