Useful Tips/Hints for Indian Businessmen for doing business with Italy

• Visa is required for visitors coming from India.

• The monetary unit in Italy is Euro.

• For most of the year, Italian standard time is one hour ahead of Greenwich Mean Time.

Every year from the last week of MARCH to the last weekend in SEPTEMBER, the country adopts daylight saving time and advances clocks by one hour.

• Offices work for five days a week: from 09.30 a.m. to 12.30 p.m. and from 2 p.m. to 6 p.m. Most businesses and factories close down in late July and August for vacation and during December 23-January 6. During these periods, businesses run on a skeleton staff and no effective contact can be made with management. In view of this, Indian companies may avoid visiting Italy during this period.

• Common custom tariff of the European Union applies for goods imported into Italy.

• No customs duties on goods transferred within EU member countries.

• Participation in Italian fairs: Participating in an international trade fair held in Italy is an important opportunity for Indian companies to expand their visibility, enter new markets and establish contacts with new potential customers and partners. To get the most out of this experience, it’s crucial to plan and organize the participation at the fair carefully. The main steps for effective participation have to be planned in the pre-event (choise and analysis of the fair, strategy of the participation, logistical organization etc.), during the event (management of the space, promotion and marketing etc.) and post-event (follow-up and analysis of the results). The request of participation has to be made well in advance, at least a few months as the Italian organisers often decline last minute entry citing reasons of non-availability of space.

• Tenders: Participating in tenders offers an opportunity for companies wishing to expand their business. Italian tenders are governed by a complex framework of regulations and procedures, which can vary depending on the type and value of the procurement (the so-called “Codice degli Appalti”). Therefore, understanding the complexity of the Italian tenders law is crucial for foreign companies who want to participate in tenders in Italy and in order to avoid mistakes it is recommended to appoint a local qualified lawyer specialized in participation in public tenders (in fact, The lawyer has all the instruments necessary to access the tender and submit the offer properly in addition to the legal skills to prepare the tender offer in the right way).

• A database of tenders floated in Italy is available at https://portaleappalti.mit.gov.it/PortaleAppalti/it/homepage.wp?)

• Invitalia, the Government Agency supporting the foreign investors wishing to invest in Italy, provides a comprehensive range of information and support services to foreign companies. They include the support in the presentation of investment opportunities throughout specific sectors, business location packages and incentives in sectoral opportunities or location opportunities. Invitalia supports new projects and is providing aftercare services as well. Invitalia is reachable at www.invitalia.it/eng