Latest News
  • 13 11 2017    European Union Companies Can Transfer Registered Offices with More Freedom (LAW)

    Complied with the Polbud ruling (C-106/16 of 25 October 2017), CJEU (the Court of Justice of the European Union) took a step further, following after a series of rulings like the Centros (1999), Uberseering (2002), Inspire Art (2003) and Descartes (2008), to empower more freedom of establishment in EU territory. According to the judgement, the CJEU stated that the freedom of establishment applies to the transfer of the registered office of a company from one Member State to another even if no real business is intended to be conducted in the latter Member State. Secondly, the CJEU ruled out national legislation providing for the mandatory liquidation of a company if the company requests the removal from the initial commercial register in cases of outward migration. Freedom of establishment entails not only the establishment and management of companies under the legislation laid down by the Member States but also includes the rights for a company formed in accordance with the law of one Member State and then governed by the law of another Member State provided that the conditions and in particular the criteria laid down by the “landing State” are fulfilled. In addition, freedom of establishment also involves the case where a company transfers the seat to another EU member state but continues to implement its essential business activities in the EU state from which it "moved out ". According to the Court of Justice, such the case, particularly for the purpose of gaining benefits from more favorable legislations regulated by any other state cannot constitute an abuse of the right of establishment. Therefore, the decision of a company to transfer its sole registered office but without moving its real seat away cannot be excluded out of EU standards (Articles 49 and 54 of the Treaty) for freedom of establishment.  
  • 06 11 2017    In 2017 Italian Electronic Commerce Growth of 17% to 24 Billion Euros - Accelerate Product Sales (ECONOMY)

    With the e-commerce B2C continuing booming, retail sales have further broadened the scope of business year-by-year; as a result, in 2017, gross turnover in Italy will exceed 23.6 billion euros with a rise of 17%. What’s more, according to the research of the Politecnico of Milan, it is for the first time in the history of Italian electronic commerce that the value of product purchases surpasses that of services. In fact, online product sales have amounted to € 12.2 billion (+ 28% in one year, 52% of total eCommerce), if excluded services, amounting to € 11.4 billion (+ 7% about 2016). Good performance has achieved and witnessed by the growth in Computing and Electronics (+ 28%), Clothing (+ 28%), Food & Grocery (+ 43%) and Furniture and Home Living (+ 31%). Tourism still remains the first sector in terms of absolute value, with purchases of € 9.2 billion, a rise of 7% by the previous year. Thanks to these incredible success, the penetration rate of online purchases in Italian retail market is up from 4.9% in 2016 to 5.7% in 2017 with products accounting for 4% of total sales and services by 9%. In addition, based on the data and analysis provided by the School of Management of the Politecnico of Milan and Netcomm, not only have Smartphone purchases reached to € 5.8 billion in 2017, up 65% by the year of 2016, but online Export, sales from Italian sites to overseas consumers, the value is worth 3.5 billion euros.  
  • 28 10 2017    UBS Releasing Global Real Estate Bubble Index---Milan, the economy center in Italy, is rated as the most cost-effective and most investment-oriented real estate market in Europe. (ECONOMY)

    UBS (United Bank of Switzerland) on Thursday released the latest global real estate "bubble index" tracking the major cities globally with highest risk of housing bubbles. In Europe, UBS pointed out that the economy improved greatly with revenue growth taking off in the key cities, and on the other hand, low interest loan rates also boosted the booming demand for urban housing. Switzerland, home to UBS, has a quite good performance in 2017. According to UBS, it’s particularly worth noting that in Milan, the center of Italian finance, you need to work only 5,7 years to afford 60 (650 sq ft) flat, which represents one of the the best value in Europe with greatest meaning of investment.
  • 23 10 2017    The Law Firm Picozzi & Morigi in Indonesia (BUSINESS)

    The law firm Picozzi & Morigi has long been serving for some well-known clients in the chemical industry. Following the expansion of Italian investments in Southeast Asia, the firm has also found itself involved in a variety of cases in consultation in the area concerned. In recent years, the firm’s professionals have taken over a series of projects in the Republic of Indonesia. In particular, Vincenzo R. Palmisano, the attorney who is in charge of Asian business in the studio, travels with great frequency on behalf of Italian customers to closely follow up with the ongoing projects, help customers overcome the difficulties of distance and language, and optimize management costs of internationalization process. By virtue of its over 20-year experience in dealing with Asian issues and cases, the studio also establishes and protects the true value of its own. Having returned from his latest trip to Jakarta and the surrounding areas, Attorney Vincenzo R. Palmisano found the country-albeit a step below other countries in the area, especially in terms of infrastructure-has firmly undertaken a decisive path towards incentives of foreign investment at the local places. The main challenges to achieve on-site investment successfully are the same common ones as those faced by many other countries: governance and control issues, conventional accounting and bookkeeping, discovery and retention of human resources. There is still a long way to go, but Indonesia, the fourth most populous country in the world only after China, India and the United States, has enormous potential for European and Italian companies. Similar confirmations also come from the institution known as the Massachusetts Institute of Technology and the Conference Board, "as a region that could record higher productivity growth over the next decade", highlighting "the Indian Ocean basin, in terms of economic growth, unequivocally as the hottest spot in the planet is likely to be higher in the near future. "
  • 18 10 2017    Xi Jinping delivers report to CPC congress (POLITICS)

    - The 19th National Congress of the Communist Party of China opened Wednesday as socialism with Chinese characteristics enters a "new era." On behalf of the 18th Central Committee of the CPC, Xi Jinping delivered a report titled "Secure a decisive victory in building a moderately prosperous society in all respects and strive for the great success of socialism with Chinese characteristics for a new era." Here are the highlights of the report: New era with new thought - Socialism with Chinese characteristics enters new era It will be an era of securing a decisive victory in building a moderately prosperous society in all respects, and of moving on to all-out efforts to build a great modern socialist country, Xi said. It will also be an era that sees China moving closer to center stage and making greater contributions to mankind, he said. - CPC rolls out Thought on Socialism with Chinese Characteristics for a New Era The CPC has given shape to the Thought on Socialism with Chinese Characteristics for a New Era, a long-term guide to action that the Party must adhere to and develop. The thought "builds on and further enriches Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory, the Theory of Three Represents, and the Scientific Outlook on Development," Xi said. "It represents the latest achievement in adapting Marxism to the Chinese context." Xi defined components of the thought, calling it a "guide to action" that must be adhered to and steadily developed on a long-term basis for all Party members and all Chinese people in their efforts to achieve national rejuvenation. http://http://www.chinadaily.com.cn/china/19thcpcnationalcongress/2017-10/18/content_33398037.htm