The Italian Parliament approved the Budget Law for 2017 which provides important measures to attract investments from abroad.
The Budget Law provides for a) special “investment visas” lasting two years for foreign investors willing to invest in Italy and b) tax exemption for foreigners transferring their residence in Italy. As to letter a), the Budget Law expressly provides that the “investment visa” shall be granted to foreigners willing to make investments in Italy for at least Euro 2 million in government bonds, to be maintained for at least two years; or, alternatively, to make investments in equity instruments representing the share capital of an Italian company for Euro 1 million, to be maintained for two years; or, to make philanthropic giving for at least Euro 1 million.
Legislative Decree 136/2016 implements in Italy Directive 2014/67/EU concerning the posting of workers within the EU in the framework of the provision of services.
The Decree establishes a series of obligations for EU member States’ companies willing to post workers in the Italian territory, including the obligation to inform preemptively (at least one day before kicking off the post in Italy) the Italian Minister of Labor (see article 10 of Legislative Decree 136/2016). Any breach of the obligations set out in article 10 of Legislative Decree 136/2016 entails the application of fines to EU member States’ enterprises: for instance, the breach of the obligation of information mentioned above entails the application of a fine between 150 and 500 Euros per worker.
Posted workers shall be submitted to the terms and conditions of employment that apply in the Member State where the service is to be provided in accordance with Article 3 of Directive 96/71/EC (see article 4 of Legislative Decree 136/2016).
avv. Sondra Faccio
28/11/2016 - CODE OF WINE: THE ITALIAN PARLIAMENT APPROVES THE FINAL DRAFT FOR A UNIQUE PIECE OF LEGISLATION REGULATING THE WINE SECTOR
Today, the Italian Parliament has approved the “Code of Wine” (Testo unico sulla disciplina organica della coltivazione della vite e della produzione e del commercio del vino http://www.camera.it/_dati/leg17/lavori/stampati/pdf/17PDL0046720.pdf), which has the ambition of gathering in a unique piece of legislation all norms and regulations pertaining to wine production and trade.
16/11/2016 - ITALIAN REAL ESTATE: OPPORTUNITIES ARISING FROM THE PUT ON SALE OF PUBLIC SECTOR BUILDINGS
The Italian State has identified a number of public properties to be put on sale in the most interesting Italian cities, including Milan, Rome, Venice and Florence. Properties to be put on sale belong to government administration, Regions, Provinces, local Municipalities, Chambers of Commerce, State Agencies, etc. and, provided certain conditions, they may be purchased through private negotiations.