Italy’s (slow) legal system. Another reason not to invest in Italy?
In world charts the Italian legal system is at about 103rd position. Really not a good result! What does it mean for Italian economy? It means inefficiency, slowness and complications at all levels, and most of all, one of the lowest growth in the Eu. This situation has also contributed to reduced investments, foreign direct investments are positively correlated with the quality of legal institutions.
The Italian judicial system suffers from excessive delays (e.g., it needs at least three or four years just to obtain a sentence in the first level of Court), and, moreover, the number of practicing lawyers in Italy is one of the highest in the all Europe (see chart below).
So, how does the Italian justice system could respond and guarantee to foreign companies who want to invest in Italy?
Undoubtedly, the right solution is hard to come, but what we note in our daily work experience could give us some important advices!
First of all is important to know that our legislation is particularly complex due to the high number of laws. So, the motto “do it by yourself” doesn’t fit: if you want to invest in Italy (ndr: Italy has a lot of investment opportunities!) it is essential to contact an Italian professional figure that could support you and give you the pre-investments informations you need before concluding the deal.
Secondly, don’t fear the Italian judicial system.
Unfortunately, what we said before is tremendously true, but we are strongly convinced that with the right support you could easily define and conclude every sort of contract or investment. Especially considering the complexity of our laws system, is important to choose the right legal professional (how to do that? Search the internet and try to evaluate his (web) reputation, read what he wrote (if he wrote something…), and search for some videos of him).
With a good initial business set-up could the possibilities of resorting to justice will be reduced considerably.
We can help you for this, so keep in touch with us!