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Ease of Doing Business in

Italy

Italy Download Profile (1729KB, pdf)
Region OECD high income
Income Category High income
Population 60,802,085
GNI Per Capita (US$) 32,790
City covered Rome

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 50 44 down
6
72.25 71.97 down
0.28
Starting a Business 63 57 down
6
89.40 89.39 up
0.01
Dealing with Construction Permits 86 82 down
4
69.41 69.31 up
0.10
Getting Electricity 51 45 down
6
80.70 80.69 up
0.01
Registering Property 24 24
-
81.69 81.67 up
0.02
Getting Credit 101 97 down
4
45.00 45.00
-
Protecting Minority Investors 42 40 down
2
63.33 63.33
-
Paying Taxes 126 134 up
8
61.65 59.33 up
2.32
Trading across Borders 1 1
-
100.00 100.00
-
Enforcing Contracts 108 106 down
2
54.79 54.79
-
Resolving Insolvency 25 23 down
2
76.59 76.14 up
0.45

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:

24

DB 2016 Rank:

24

Change in Rank:

0

DB 2017 DTF (% points):

81.69

DB 2016 DTF (% points):

81.67

Change in DTF (% points):

up0.02

STANDARD PROPERTY TRANSFER
Property value EUR 1,343,846
City Rome
Indicator Italy OECD high income
Procedures (number) info_outline 4 4.7
Time (days) info_outline 16 22.4
Cost (% of property value) info_outline 4.4 4.2
Quality of the land administration index (0-30) info_outline 26.5 22.7
  • Measure of efficiency
    No. Procedure Time to Complete Associated Costs
    1

    Notary public obtains the necessary certificates for the transaction through Notartel

    Agency: Notary

    The notary public obtains all the needed due diligence certificates required for the transaction and verifying the identity of the parties. The notary will obtain the following certificates through Notartel, a portal which enables the notary to access the Land Registry, the Cadastre and the Commercial Registry directly:
    (i) Certificate on the property, from the Land Registry, stating who the owner is and any rights that third parties have on the property (if any);
    (ii) Certificate on the property, from the Cadastre, stating the physical characteristics of the property.

    Less than a day (online procedure), simultaneous with procedure 2) Included in procedure 3
    * 2

    Notary verifies the powers of relevant signatories

    Agency: Notary (via the Company Registry - "Registro imprese" online)

    Using the website of the company registry's website, the notary will obtain certificates stating that the parties have the needed powers to complete a property transfer on behalf of their companies.

    Less than a day (online procedure), simultaneous with procedure 1 Included in procedure 3
    3

    Notary drafts and executes the deed of sale

    Agency: Notary

    Then, the notary public prepares and executes the deed of sale.

    11 days EUR 5019 (Notary's fees without VAT) + EUR 230 (Imposta di Bollo) + EUR 200 registration tax (Imposta di Registro) + 3% of property value (Imposta Ipotecaria) + 1% of property value (Imposta Catastale) + EUR 35 (Tassa Ipotecaria) + EUR 55 (Diritti Catastali per Voltura)
    4

    Registration of the deed

    Agency: Land Registry and Cadastral Office

    The notary files the deed of sale and the transcription note on line using the “Modello Unico Informatico (MUI)”. It is mandatory for the notary to file the documents within 30 days of the signature of the contract. Otherwise, the notary will be fined. With a single electronic transmission digitally signed by a notary, the following information is sent: (i) the data concerning the payment of taxes (debited from bank account), (ii) the offices of destination, i.e. Tax Agency for tax registration, Land Agency for the Land Registry and Cadastral office (jointly), Land Registry Offices (Ufficio Tavolare) for the municipalities where this specific method of registration for real estate transfers is operational; (iii) the certified copy of the deed with its attachments. Taxes are credited directly to the central Revenue Office and the various offices retain the competence to verify the correctness of the payment. The notary gets online receipts of the various Procedures and payments made. In the case of a warehouse used for commercial purposes, sold by a company that is not in the construction business the cadastral tax is equal to 1% of sale price, according to the law 248 of 2006, and the transcription tax is equal to 3% of sale price. Italian VAT law applicable to commercial properties states that the sale of a commercial property is generally VAT exempt, unless (i) in the cases mandatorily provided for by the Italian tax law (ii) if the seller has elected for the VAT regime. In any case, the transfer of a commercial property where both the seller and the purchaser are Italian companies is subject to a fixed registration tax rate. The Land registry and cadastre are 2 different databases, but managed by the same government agency since 2008-2009. The Land Registry has the purpose of rendering deeds enforceable towards all third parties. Until a deed has been registered in the Land Registry, it is only enforceable between the parties thereto. The Italian Land Registry system is based on the principle of continuity of the registrations ("continuità delle trascrizioni"). This means that an individual or an entity may sell a property only if the relative deed of purchase has been registered beforehand in the Land Registry.

    4 days Included in procedure 3

    * Takes place simultaneously with previous procedure.

  • Measure of quality
    Answer Score
    Quality of the land administration index (0-30) 26.5
    Reliability of infrastructure index (0-8) 8.0
    What is the institution in charge of immovable property registration? Conservatoria dei Registri Immobiliari
    In what format are the majority of title or deed records kept in the largest business city—in a paper format or in a computerized format (scanned or fully digital)? Computer/Fully digital 2.0
    Is there an electronic database for checking for encumbrances (liens, mortgages, restrictions and the like)? Yes 1.0
    In what format are the majority of maps of land plots kept in the largest business city—in a paper format or in a computerized format (scanned or fully digital)? Computer/Fully digital 2.0
    Is there an electronic database for recording boundaries, checking plans and providing cadastral information (geographic information system)? Yes 1.0
    Is the information recorded by the immovable property registration agency and the cadastral or mapping agency kept in a single database, in different but linked databases or in separate databases? Different databases but linked 1.0
    Do the immovable property registration agency and cadastral or mapping agency use the same identification number for properties? Yes 1.0
    Transparency of information index (0–6) 4.5
    Who is able to obtain information on land ownership at the agency in charge of immovable property registration in the largest business city? Anyone who pays the official fee 1.0
    Is the list of documents that are required to complete any type of property transaction made publicly available–and if so, how? Yes, in person 0.0
    Link for online access:
    Is the applicable fee schedule for any property transaction at the agency in charge of immovable property registration in the largest business city made publicly available–and if so, how? Yes, online 0.5
    Link for online access: http://www.agenziaentrate.gov.it/wps/content/Nsilib/Nsi/Home/CosaDeviFare/C...
    Does the agency in charge of immovable property registration commit to delivering a legally binding document that proves property ownership within a specific time frame–and if so, how does it communicate the service standard? No 0.0
    Link for online access:
    Is there a specific and separate mechanism for filing complaints about a problem that occurred at the agency in charge of immovable property registration? Yes 1.0
    Are there publicly available official statistics tracking the number of transactions at the immovable property registration agency? Yes 0.5
    Number of property transfers in the largest business city in 2015: 27,356
    Who is able to consult maps of land plots in the largest business city? Anyone who pays the official fee 0.5
    Is the applicable fee schedule for accessing maps of land plots made publicly available—and if so, how? Yes, online 0.5
    Link for online access: http://www.agenziaentrate.gov.it/wps/content/Nsilib/Nsi/Home/CosaDeviFare/C...
    Does the cadastral or mapping agency commit to delivering an updated map within a specific time frame—and if so, how does it communicate the service standard? No 0.0
    Link for online access:
    Is there a specific and separate mechanism for filing complaints about a problem that occurred at the cadastral or mapping agency? Yes 0.5
    Geographic coverage index (0–8) 8.0
    Are all privately held land plots in the economy formally registered at the immovable property registry? Yes 2.0
    Are all privately held land plots in the largest business city formally registered at the immovable property registry? Yes 2.0
    Are all privately held land plots in the economy mapped? Yes 2.0
    Are all privately held land plots in the largest business city mapped? Yes 2.0
    Land dispute resolution index (0–8) 6.0
    Does the law require that all property sale transactions be registered at the immovable property registry to make them opposable to third parties? Yes 1.5
    Is the system of immovable property registration subject to a state or private guarantee? Yes 0.5
    Is there a specific compensation mechanism to cover for losses incurred by parties who engaged in good faith in a property transaction based on erroneous information certified by the immovable property registry? No 0.0
    Does the legal system require a control of legality of the documents necessary for a property transaction (e.g., checking the compliance of contracts with requirements of the law)? Yes 0.5
    If yes, who is responsible for checking the legality of the documents? Notary.
    Does the legal system require verification of the identity of the parties to a property transaction? Yes 0.5
    If yes, who is responsible for verifying the identity of the parties? Notary.
    Is there a national database to verify the accuracy of identity documents? Yes 1.0
    For a standard land dispute between two local businesses over tenure rights of a property worth 50 times gross national income (GNI) per capita and located in the largest business city, what court would be in charge of the case in the first instance? Tribunale Ordinario di Roma, Quarta Sezione Civile (Contenzioso Immobiliare)
    How long does it take on average to obtain a decision from the first-instance court for such a case (without appeal)? Between 1 and 2 years 2.0
    Are there any statistics on the number of land disputes in the first instance? No 0.0
    Number of land disputes in the largest business city in 2015:
    Equal access to property rights index (-2–0) 0.0
    Do unmarried men and unmarried women have equal ownership rights to property? Yes 0.0
    Do married men and married women have equal ownership rights to property? Yes 0.0