Milan – the capital of Lombardy and the second biggest city in Italy (after Rome) – is often quoted as a synonym for investments, business, and international cooperation. Italians often say that “Milan is a different kind of Italy” – it is where traditions adapt to modern realities, the administrative system aims at business optimization and the dynamics of a global city are clearly seen.
Aiming to make foreign investments in Milan Italy even more successful, ILF (Italy Law Firms) with its business consultants offers legal and business advice for no resident clients that are planning to incorporate a company, purchase a property or setting up a business in Milan Italy. The ILF staff is composed of Italian lawyers, accountants, web and marketing experts, engineers all fluent in English, that have collaborated with international investors to find and create business or start ups in Italy over the past 15 years in fields ranging all the way from real estate to investments in the digital or industrial sphere.
In the last decades, a great number of international companies have decided to move or open their branches in Milan, thus turning the city in what can now be called, Italy’s business capital. According to the database of Assolombarda Confindustria Milano, Monza e Brianza, Lodi, Milan is home to 123 large companies (defined as a company with turnover greater than € 1 billion), and of 581 innovative start-ups. Key sectors in Milan include ICT & media, financial consultancy services, fashion & design, commerce, life science and biotechnology.
Looking back at Milan, it hits the first places in many Italian and European business rankings. Definitely, what Milan is internationally best known for, is fashion. The Milan Metropolitan area produces 61% of the Italian turnover for design and fashion industry. The value of the fashion industry, including trade, is approximately € 2.4 billion, of which approximately 60% is industry. This makes Milan one of the world capitals of shopping, alongside Paris and New York.
But fashion is not the only sphere marking success in Milan. The city can also be called the financial center of Italy, giving home to the Italian Stock Exchange. It manages 353 listed companies with €557 billion of overall market capitalization. It is also part of the London Stock Exchange, the biggest stock exchange in the European Union in terms of market capitalization values. Milan has a developed banking and finances sphere, and gives home to more than 170 banks (49 non-Italian) and about 10,000 financial service companies (employing 70,000 people).
Prediction of the 2019 Report of the Real Estate Research Institute quote that for the decade of 2019-2029 Milan shall attract more than 13 billion euros in real estate investments. With this number, Milan is predicted to score higher than Monaco (10,8 billion euros) and Amsterdam (10,2 billion euros). The research compares cities of similar growth and importance, and thus estimates that excluding the capital cities of London, Berlin and Paris, Milan shall be the European city attracting the most of the foreign real estate investments in the 2019-2029 period. This data makes Milan one of the top locations for investing in general and expands its prestige not only in Italy, but also internationally.
All of the above quoted numbers guarantee a stable ground for foreign investments in Milan and provide for successful cooperation between the big international companies, the innovative start-ups and the public institutions. In order to strengthen these connections and enable a rewarding transition of international businesses on the Italian market, ILF offers expertise consultancy on a range of legal and financial matters, and together with its network of companies and associated professionals, it provides the perfect guide for any foreign investor in Italy.
The contents of this page should not be taken as an authoritative statement of Italian law and practice. Neither the author nor the publisher are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. This text is not intended to render legal, accounting or tax advice. Readers are encouraged to seek professional advice concerning specific matters before making any decision.