The European Structural and Investment Funds (ESIFs) represent the main investment tool used by the member-states of the European Union (EU). For the period of 2014-2020, the EU allocated a total budget of EUR 454 billion. The ESIFs are used to sustain businesses throughout the members of the Community, including Italy. Such funds are used to increase the value of the competitiveness in the business environment, create new jobs and develop new products and services. Our team of lawyers in Italy can provide legal assistance on the ESIF regulations applicable here.
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ESIFs in Italy
Investors who want to open a company in Italy can receive financial support through the ESIF structures. In Italy, the local authorities have already implemented 74 programmes aiming at the development of the local market through the usage of ESIFs. So far, Italy allocated a total sum of EUR 42,77 billion from such funds, while the national investment in this sense was of EUR 30,96 billion.
The overall budget Italy can use through ESIFs reached the value of EUR 73.73 billion. This sum is aiming to have positive effects on the following:
• creating new jobs;
• invest in research and innovation;
• environmental policies;
• increasing the participation on the labour market.
Businessmen should also know that amongst the European member-states which have received funding through ESIFs, Italy occupies the second position, after Poland, and our Italian attorneys may provide more details on this sense.
The ESIFs structure in Italy
The entrepreneurs who are seeking to register a company in Italy should also know that the programme addresses to various types of economic fields and each country included in the programme had to present its priority fields.
The ESIFs are further categorized in five sub-domains, as follows:
• European Regional Development Fund (ERDF);
• European Social Fund;
• European Agricultural Fund for Rural Development;
• Cohesion Fund;
• European and Maritime and Fisheries Fund.
However, Italy, alongside with other 19 EU member states, benefited from another fund, which is the Youth Unemployment Initiative.
The highest sum received by Italy was in the case of the ERDF, for which EUR 20,75 billion was allocated.
We invite businessmen to contact our law firm in Italy for more details on the benefits of the European Structural Investment Fund.