A Gateway of Opportunity beckons Milan

Milan is, of course, the commercial heart of Italy with three airports, good rail links and only a few hours drive time from Paris, Frankfurt and Geneva together with being the international fashion capital and financial axis of Italy with a highly attractive tax-free zone being proposed as a tempting incentive for businesses, not mention the talent pool that arises from the top rated business and finance Bocconi University as well as housing the main Stock Exchange. 

All this makes the city well placed to pitch for any of the pickings that may become available in the wake of the UK’s game changing Brexit vote.  The Prime Minister, Matteo Renzi, is laying plans to attempt to seize the European Medicines Agency as well as the European Banking Authority with a view to relocating the headquarters of both agencies in Milan. 

Many organisations are re-considering their strategy following Britain’s intention to exit the EU.  Milan also offers an attractive proposition for employees who are posted to the city for long term secondments in that house prices have not climbed significantly since the 2008 recession created a flat-line in real estate expenditure and prices are not expected to rise anytime soon.  Areas of Milan previously considered to be run down and populated by blue collar workers are now becoming attractive, trendy and affordable.

There are potential flies in the ointment in the shape of the perception of Italy’s judicial system being ponderous and the bureaucracy is deemed to be inefficient.  Also, there are fewer English speakers in Milan than other some major cities in Europe; so there may not be a stampede so much as a steady stream of commerce moving in Milan’s direction as the moment.

To learn more about how to leverage potential business opportunities in Milan please contact clientservices@giambronelaw.com   020 7183 9482.