The ISO code of Italy is IT according to the ISO 3166 standard. The local name of the country is Italia. Italy capital city is Rome. People in Italy speak the Italian language. On 25 April 1945, Italy emerged as a sovereign political entity. In the year 04/25/1945, Italy emerged as a sovereign political entity. The largest cities in Italy are Rome, Milan, Naples.
Italy is located in the UTC +01:00 time zone, which is also called Central European Time or CET. The internet country code top-level domain (ccTLD) for Italy is .it. Other domains assigned to Italy are .eu. The domain name .eu is available for use by organizations in and residents of European Union member-states. The International dialing code for Italy is 39. People in Italy drive on the right side of the road. Total land area of Italy is 301,340 km² (approx. 116,347 mi²). Italy is not a landlocked country. It means that is is bordered by at least one major body of water.
Italy is located in Europe. Italy is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Italy faces various issues, including air pollution from industrial emissions such as sulfur dioxide, coastal and inland rivers polluted from industrial and agricultural effluents, acid rain damaging lakes, inadequate industrial waste treatment and disposal facilities.
Doing business in Italy
We offer various corporate services in Italy jurisdiction. These services can serve both, people coming from Italy and foreigners. If you plan on doing business in Italy you might be interested in contacting us.
To find out about starting your business in Italy click on company formation in Italy.
To find out how to open a bank account in Italy and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Italy.
Choose preferred service below or continue reading to find out more about Italy.
Demographics of Italy
The total population of Italy is 59,290,969 people. In Italy, the population density is 202 people per square kilometer (525 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Italy is 0.1145. Italy has approximately 5788875 foreign immigrants. The median age is approximately 44.5 years. In Italy, 58 in every 100 people use internet. Italy has a Human Development Index (HDI) of 0.872.
The majority religion of Italy is Christianity, Italy is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Italy.
Culture of Italy
People in Italy speak the Italian language. According to data on inbound tourists in Italy, 47,704,000 tourists arrive in the country each year. The first McDonalds in Italy was opened on 15 October 1985, and it was located in Piazza Walter, Bolzano. One of the most popular national dishes of Italy is pasta. To read more click on culture of Italy.
Geography of Italy
Italy is considered to be a large nation because of its total area. Its total land area is 301,340 km² (approx. 116,347 mi²). Italy is located in Europe. Its capital city is Rome. Italy has 6 neighbouring countries. Its neighbours include Austria, France, San Marino, Slovenia, Switzerland, and Vatican City. Total length of land borders of Italy is 1836.4 kilometers (~709 miles).
The highest point of Italy is Monte Bianco, with its official height being 4810 m (15,782 ft). Including land mass and EEZ, the total area of Italy is approximately 843,255 km² (~325,581 mi²). The most notable natural resources found in Italy are coal, mercury, zinc, potash, marble, barite, asbestos, pumice, fluorspar, feldspar, pyrite, natural gas, crude oil, fish, arable land.To read more click on geography of Italy.
Economy of Italy
The currency of the country is euro. The symbol used for this currency is €, and it is abbreviated as EUR. 11.1% of population in the country are unemployed. The total number of unemployed people in Italy is 6,581,298. Each year, Italy exports around $474 billion and imports roughly $435.8 billion. The Gini Index of the country is 31.9. Italy has a Human Development Index (HDI) of 0.872.The Global Peace Index (GPI) for Italy is 1.669. Italy is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Italy is $2,135,359 billion. Each year, consumers spend around $1,300,337 million. The ratio of consumer spending to GDP in Italy is 0%, and the ratio of consumer spending to the world consumer market is 3.02. The corporate tax in Italy is set at 27.9%. Personal income tax ranges from 23% to 43%, depending on your specific situation and income level. VAT in Italy is 22%. To read more click on economy of Italy.
Infrastructure of Italy
Infrastructure quality in Italy is rated to be at 3.78. It indicates a good quality - roads, railroad, ports and other facilities are adapted and regularly maintained to handle high levels of traffic at all times, as well as most probably there are special facilities for handling high intensity and/or special traffic or vehicles (e.g. motorways a.k.a. autobahns and deepwater ports).
In Italy, 100% of the population has access to electricity. There are 25,662,000 internet hosts in Italy. Italy has 129 airports nationwide.
The logistics performance index of Italy is 3.69. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.84. It indicates a good performance - the tracking systems provide detailed and up-to-date information about most of the parameters of shipments, as well as often transcend national (both political and linguisitc) barriers and may be qualified as international shipment tracking systems.
To read more click on infrastructure of Italy.
Politics of Italy
Italy, is a unitary parliamentary constitutional republic. With regard to political and civil freedoms, Italy is 1. Citizens in Italy experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Sergio Mattarella.
According to the World Bank Group, the government effectiveness index of Italy is 0.38. This indicates that the government of Italy is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Italy before considering any business maneuvers.In Italy, the legislative power is vested in a Parliament. The Global Peace Index (GPI) for Italy is 1.669. The strength of legal rights index for Italy is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. Italy is a member of the United Nations (UN). On 14 December 1955, it joined the UN as a full member state. Italy is a member of the European Union (EU). On 14 December 1955, it joined the EU as a full member state. Italy is a member of the World Bank. To read more click on politics of Italy.
Environment of Italy
Italy emits 6.7 metric tons per capita of CO2. 106736 km² of Italy's territory is covered in forests. and forest land comprises 35% of all the land in the country. To read more click on environment of Italy.
Company formation in Italy
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Italy.
When establishing a company in Italy, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Italy that will affect the establishment and growth of one's business. Contact us or click on company formation in Italy to read additional information when setting up a business.
Bank account opening in Italy
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Italy. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Italy, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Italy or contact us.