The laws and that belongs to the parliament. The

The legal system of a
country is the laws and principles of the
country, how the country operates, and
the rules and regulations expected for citizens of the country to follow. The
risk of investing in a foreign country that has corruption in its system, laws that block investments and trade dealings, frequently finding situations where people’s rights
are violated, can have a costly, damaging effect
on your business. It’s important to
know the risks and the unfortunate realities the legal system a foreign country may have. In Italy, the legislative branch
has the power to make laws and that belongs to the parliament. The members of
the parliament make amendments to the constitution as well review ing bills made.
In Italy, to create a law, the bill needs to the pass Upper and Lower Houses.
An agreement must be made by both houses on the bill, and in some cases, this
is the reason that leads bills to be on hold for years. As an investor, it can
be frustrating if bills that can be beneficial towards your businesses or investments
are stuck in gridlock

Legal Information

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 Italy is a part of many international trading agreements and supports trading of goods and services.
Italy is a member of the European Union (EU), the World Trade
Organization (WTO), the Organization for Economic Co-operation and Development
(OECD), the Organization for Security and Co-operation in Europe (OSCE) and the
North Atlantic Treaty Organization (NATO) (Government of Canada, 2017). As a part of the European Union,
the members are expected to adapt to the common trade policy (Government of Canada, 2017). Goods and services
imported to the European Union countries are subject to import tariffs.
Depending on importing countries, value-added tax (VAT) in Italy the standard
rate is 12%, is applied as well on Goods and services (Government of Canada, 2017). Currently, that
percentage may increase to 25% in 2018, depending on the performance of the Italian
economy (Government of Canada, 2017). As an investor
looking to invest or import goods and services into Italy, it’s important to
record and document all business transactions in your investments for credibility.
Tariff charges and tax charges are applied to imported goods and services
automatically.This will prevent the risk of losing track money, and not pay government
law taxes.

As an
investor, the political structure should be carefully studied when choosing to
make investments in that foreign country. The political structure is the social
structure of the country where the society as an institution can manage a
government. It tells investors the country’s values and beliefs in the system and
most of the time, voice the concerns and issues in the country. The official constitutional name of Italy is “the Italian
Republic”. (Italy’s political system: Key
things to know, 2017). The forms of government
Italy is the Republic, Unitary state, Parliamentary republic, Constitutional
Republic (Sawe, 2016).The president Sergio
Mattarella is the head of state, however, laws and court rulings are made by
the Constitutional Court. Made up of 15 judges, the president, parliament, and
other courts that elect 5 judges each (Italy’s political system: Key
things to know, 2017). Italy divides
the power into three branches, executive, legislative,
and juridical (Italy’s political system: Key
things to know, 2017). The Council of the Ministers and Prime
Minister Paolo Gentiloni are in charge of the executive branch of Italy (Italy’s
political system: Key things to know, 2017).  The Italian parliament (Parlamento) is the legislative branch that consists of two chambers.  The Upper house is the Senate of the Republic
with 315 senators over the age of 40, and the Lower house is the Chamber of Deputies with 630 deputies (Italy’s
political system: Key things to know, 2017). All members are elected for five-year terms and only extended if the country is currently in a
war.

Political & International Information

Natural
resources found in Italy are asbestos, barite, coal, crude oil reserves,
feldspar, fluorspar, marble, mercury, natural gas, pumice, and pyrite. (Natural Resources, 2017). The government
controls the mineral industry

 

Businesses
thrive in major cities such as the capital city of Italy, Rome, and Milan. The
capital city of Italy has 67 companies in
the Inc. 5000 Europe (Henry, 2015)  The Inc. 5000 Europe, is a list of 5000
businesses in Europe that is named
Europe’s Fastest-Growing Companies. Rome’s most successful businesses are in
Industries of real estate, food and
beverage services, and IT services (Henry, 2015).  The northern Italian city Milan is home to the Italian stock exchange and generates about 9% of the
country’s economic growth (Henry, 2015). The city has 83
known companies in the Inc. 5000 Europe (Henry, 2015). The official
language that is spoken in the country is
Italian. Most businesses either speak Italian and English. The adult literacy rate
between the ages 15 and older, is 99. 2% (Italy, Human Development
Indicators, n.d.).
Meaning almost every person in the country can read and write. Investments can
be made in a population that has a high literacy rate. A population, that
consists of individuals that are well-educated
can experience little to no difficulty when reading and write papers. Encounters with potential
investors are made easier when information can be easily understood by a
population. The major religions practiced in Rome is Catholicism, Christianity.
There is also a Muslim immigrant community. 
As a foreign investor or business person looking to target a population
of a different country, it is important to know your target audience. Religion
can create disagreements on issues, ethics, politics, and conflict. To ensure that the targeted audience needs and expectations are met, know where the
targeted audience is to boost profits in that area. The risk of blindly
investing in an area without knowledgeability of religions and beliefs can offend
people, lose audience members and their interests, and affect profits. (Heckstall, 2016)

 

Investors
looking to invest in a foreign country can be risky. Investing in any foreign
country it’s crucial to research covering the background of that country, the
economics, infrastructure, politics and policies, cultural standards, legal, and international information. The result of this will minimize and
prevent loss of profits and allow investments greater chances of successes in
that country. Italy is located along the Mediterranean Sea near France.
Italy experiences hot dry summers and cool rainy winters. Italy’s population is
more than 62 million individuals as of 2017 (Zimmermann K. A., 2017), and the life
expectancy in the country, if patterns of age-specific mortality rates since
the time of birth is constant throughout infant’s life, is 83.3 years. With the
population consisting more than 62 million individuals as of 2017, 65.6 percent
of the population are internet users. (Italy, Human Development
Indicators, n.d.). This is an advantage by itself because
businesses can use the internet as an outlet to advertise and reach out the majority of the population online. The internet
is one of the main routes businesses use to expand, invest, advertise and
connect with people. Connecting with people locally and internationally is
imperative to the success of businesses. It can build and expand your brand through the websites or ads you create, polish
your brand collateral, and build worldwide exposure that much faster and
effective than other ways.

Country
Overview