# Opening Branch Office in Italy - and moving there to run it



## Talisman Guide

Hello all. I am just beginning the preliminary research for my future move to Florence and am wondering if any of you can shed some light on the benefits and roadblocks of how I plan to conduct my move.

I am the founder and acting president/ceo of a small tech firm based in NYC. We cater our web-based programs to the education market, both K-12, and colleges/universities. 

In approximately two years my wife and I plan to move to Florence, Italy, for the dual purpose of expanding our client base internationally (selling to the Italian market and using the Italian home base to reach other European centers more effectively) and to enjoy the region's cultural offerings.

My question has two layers:

1) What is the best option for my business? Establishing a branch office? 
2) How easy is it then two pull off the one-two punch of establishing a legal entity (branch office) and then moving myself to it as its operator?

Of all the research I have been doing, it has typically covered employees who work for large multinational companies or those who are seeking employment with an Italian company. I'm sure there are many entrepreneurial types like myself who are already employed and want to take their business to the Italian market, hire Italians to round out a staff, and therefore add something positive to the Italian economy (rather than just moving there to look for work and compete with Italians for jobs that I understand are somewhat scarce).

I thank you in advance for any assistance you can provide.

-Matt


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## Bevdeforges

I would start here: Consolato Generale d'Italia a New York

They have links to a number of agencies and organizations that would be very useful to you in gathering information for your project. You may also want to check around for an Italo-American Chamber of Commerce type of organization - either in New York or in Italy. These are generally associations of American businesses in Italy (or wanting to do so) and vice versa who can help with much of the regulation process.

The US Embassy in Italy also has a business and trade section that may be able to provide you with further information about investment in Italy and groups of American businesses established in Italy. 
Cheers,
Bev


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## Talisman Guide

Thank you _very_ much for this information. I greatly appreciate it.

-Matt


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## Joppa

While it will involve a great deal of red tape (being Italy!), what you propose to do seems perfectly legitimate and the sort of thing that Italian authorities should look on positively. You will be bringing your business to Italy, investing your own capital and presumably creating local jobs. You need to have a clear business plan as part of your visa application, and once you get that, you need to establish a legal entity in Italy conforming to its various requirements, such as commercial, regulatory, taxation and insurance. 
You clearly need professional help in all this. Get in touch with the commercial/trade attache at your nearest Italian consulate.


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## Talisman Guide

Joppa said:


> While it will involve a great deal of red tape (being Italy!), what you propose to do seems perfectly legitimate and the sort of thing that Italian authorities should look on positively. You will be bringing your business to Italy, investing your own capital and presumably creating local jobs. You need to have a clear business plan as part of your visa application, and once you get that, you need to establish a legal entity in Italy conforming to its various requirements, such as commercial, regulatory, taxation and insurance.
> You clearly need professional help in all this. Get in touch with the commercial/trade attache at your nearest Italian consulate.




Wonderful feedback, thank you. I commend this site. Its been of great assistance.


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## TransactionsItaly

*Answer to Matt*

1) What is the best option for my business? Establishing a branch office? 
2) How easy is it then two pull off the one-two punch of establishing a legal entity (branch office) and then moving myself to it as its operator?

Dear Mat
Starting from the two questions above is important you understand open up a company in italy is not straight forward and is neither tasty. The taxes in this country are extrimelly high, but the life quality is good so many people just come and pay these taxes to have a nice and good life.

In order to open a branch or a company you need a fiscal code, codice fiscale, which is a number that register you in the tax office, you need a bank account and you need a resident permis( regard this point you got to talk with your counsolate)

You could start with a self employed regime, in this way you do not have to put any capital, you will be a sort of free lance and untill you reach 3000 euros you can only pay a 20% deductions without involving VAT or social security.

What you need to do this is an accountant, they are the only person allow to proceed the request for opening up a company, accountant in italy are called Commercialista. Then you need a bank account, many banks open account to non italian easily, you only need a residence and a fiscal code.

Once you have got all this things in place you can start. Moreover, and very impoirtant, if you will be working with foreigners clients in your invoice VAT won't be added at least within European country.

Let me know if you need some more info, I basically do this as a second activity.

Regards

Davide


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## Talisman Guide

Talisman Guide said:


> Hello all. I am just beginning the preliminary research for my future move to Florence and am wondering if any of you can shed some light on the benefits and roadblocks of how I plan to conduct my move.
> 
> I am the founder and acting president/ceo of a small tech firm based in NYC. We cater our web-based programs to the education market, both K-12, and colleges/universities.
> 
> In approximately two years my wife and I plan to move to Florence, Italy, for the dual purpose of expanding our client base internationally (selling to the Italian market and using the Italian home base to reach other European centers more effectively) and to enjoy the region's cultural offerings.
> 
> My question has two layers:
> 
> 1) What is the best option for my business? Establishing a branch office?
> 2) How easy is it then two pull off the one-two punch of establishing a legal entity (branch office) and then moving myself to it as its operator?
> 
> Of all the research I have been doing, it has typically covered employees who work for large multinational companies or those who are seeking employment with an Italian company. I'm sure there are many entrepreneurial types like myself who are already employed and want to take their business to the Italian market, hire Italians to round out a staff, and therefore add something positive to the Italian economy (rather than just moving there to look for work and compete with Italians for jobs that I understand are somewhat scarce).
> 
> I thank you in advance for any assistance you can provide.
> 
> -Matt


Thank you Davide. This was definitely helpful.


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## bunty16

Hi, regarding the tax code and bank account, I was able to open an account before I purchased my house, hope this helps.


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