The Italian Startup Law has set up a vast range of tools to help entrepreneurs establish their own innovative business, including:
- cuts in red tape: innovative startups can be registered for free. No fees are due for the fulfillment of bureaucratic procedures, i.e. filing of annual financial report.
- flexible labour law applicable to the whole startup’s life cycle:
- fixed-term contracts for 4 years,
- variable pay depending on the company’s performance,
- workers and consultants can be remunerated with stock options
- tax credit by 35% for hiring highly qualified personnel,
- robust tax relief (19-27%) on investments fueling startups,
- possibility for innovative startups to raise money through equity crowdfunding portals (1st tailored regulations in the world),
- free, fast-track public guarantee on bank loans covering 80% of the sum,
- tailored support by the Italian Trade Agency (ICE) in case innovative startups want to go international;
- fail-fast mechanism in order to help entrepreneurs move on quickly to the next startup in case things go wrong.
In the last few years the Italian Government has issued a set of laws in order to make Italy an attractive country for startuppers form all over the world. In fact, any foreign entrepreneur with a good innovative idea can obtain a special visa in a fast way for creating its startup in Italy.