Italy is economically well-developed and is quite well established financially. The distinct features and characteristics of the Italian market can be quite difficult to grasp especially for foreigners or outsiders. However, if you plan well, your business will more than thrive in the Italian market. They are constantly looking for innovative and new ideas and are not afraid to turn their backs on old and boring brands. One thing they are extremely particular about is quality. If you want to enter Italian industries, sell genuine and quality products. If they discover that your products are not up to the mark, your journey will end. 

Here are five tips to establish your business in Italy from Qatar:

1. What kind of Company Are You Looking Are You Interested in

There are mainly two categories or types of business. The first is SRL and the second is SpA. Both of these have their advantages as well as difficulties. The two factors that determine the type of business you should opt for are the size of the organization and the sum of your investments. 

2. Understand Italian Taxes, Rules and Regulations

If you are thinking of setting up your business in Italy, you need to learn and remember the Italian laws thoroughly. It will be different from Qatar and any other country. The citizens and the law systems take these rules very seriously and violating any regulation can cause a major setback to your business. There are mainly five major taxes that you should consider before operating business in Italy. The Imposta sul reddito is one of these and can be regarded as the income tax. Imposta sulle società is the corporate tax, Imposta sul valore aggiunto resembles GST, VAT or sales tax, Imposta sui servizi is mainly imposed on services, and the accise refers to excise taxes. 

3. Custom Duty, Import, and Trading

If you are conducting business from Qatar, most likely you will need to trade goods in and out of Italy. Importing can be a little tricky if you are not doing it from within the country. Italy has banned the import of some items like live animals, cattle, pirated items, and genetically engineered items. Some chemicals and substances are prohibited too. You can avoid customs if you plan on dealing with European countries and importing from EU states. However, you will require spotless documents if you are importing from other states and countries. We advise against taking the customs duties of Italy lightly. You may get into some serious trouble if you fail to honor their custom laws and trading procedures. 

4. Get Familiar With Italian Culture and Beliefs

Italians take their culture very seriously. They like to live in a certain way and their belief system is quite solid. If you want to make your business big, the first step is to think like Italians. If you are conducting business in Italy, learn some basic Italian phrases. If you have employees who do the work, make sure they know some Italian. Qatar is very different from Italy and the beliefs and practices are somewhat contradictory. You cannot operate in Italy the way you would in Qatar. Learn about Italian life and closely watch how Italian brands operate. You should also understand that under no circumstance should you insult or take a dig at their religion. They are very closely associated with the Pope and the Vatican.

5. Learn Market Dynamics and Strategies

Several companies have made it large in the Italian market. If you feel intimidated by the business dynamics you can start by buying a shelf company in Italy, instead of starting your own company. You can learn a lot from your competitions. It is essential to collect as much information as possible regarding the shelf industry and its market dynamics.  Strategies are always different in each country because citizens do not think alike. Italian lifestyle is different and unique. Gather details regarding the things they are passionate about and incorporate those elements into your marketing techniques. If you want to impress Italians make sure you dress for the part. To conduct business with them be well-prepared and ready with all the documents. They love to interact to understand whom they are working with so prepare yourself to share some personal details. If you are in Qatar, you will probably have to fly to Italy before you can start your company successfully. 

Conclusion

If you want to survive in Italy you will require some kind of local help. Therefore, make some Italian friends and gather important insights about what they like and prefer. This is necessary to understand the country politically, economically, and socially. Business affects all three of these and having some knowledge about the current zeitgeist of the country will only help your company.