Ecobonus 110 efficientamento energetico

In the context of energy retrofit and efficiency, Ecobonus 110 represents an important measure to relaunch the construction industry, the plant engineering sector, the companies of the sector and similar fields after a long period of economic stagnation, helping to reduce electricity consumption and modernising the buildings .

IBS ENERGY is able to operate by offering the service required by the Decree Law, through a partnership with a retrofit platform and agreements with investors active in the efficiency sector . Therefore we are collecting the needs represented by building managers and homeowners in order to provide the services required by the “ Decreto Legge Rilancio 2020 ” and the contents of the DL n. 34 / 2020 art. 119, in terms of Incentives for energy retrofit and efficiency, earthquake bonus, as well as photovoltaic and charching columns for electric vehicles, super bonus with 110% tax deductions . Below there is more information about :

- which interventions
- access conditions
- who are the beneficiaries
- method of credit assignment and invoice discount .

Premises and introduction to Ecobonus 110

This presentation makes no mention of which interventions combine to obtain the increase of two energy classes of the building and these technical aspects are deepened after the real estate analysis and survey . It is necessary to specify that if an increase of two classes is not possible, perhaps because the class energy of the building is already high, there has to be an improvement anyway . If the class energy of the real estate is already maximum, it is not possible to benefit from the statutory incentives .
The Italian Revenue Agency specifies some guidelines and final criteria, after the promulgation of the Decree Law that has to be converted into law within 60 days from the enactment, otherwise it is no longer valid . Criteria and guidelines may broaden the scopes, since they currently include only the main house ; however the second homes could be included too, maybe with some restrictions through the guidelines .


PERIOD OF VALIDITY OF ECOBONUS 110 : the Decree Law establishes from the 1st July 2020 to 31 December 2021, for household expenses paid during this period .
OTHER ACTIVE ECOBONUSES : Ecobonus 110 can be added to other Ecobonuses ( 50 %, 65 %, 85 %, earthquake bonus ), therefore it is important to avoid confusion among the several measures and the advantage planned for citizens . Below there are some indications about the measure: what it provides for and the implementing rules .
WHO IS ENTITLED TO ECOBONUS 110 ? The measure is applicable in the case of work on buildings for residential use, then multifamily buildings ( block of flats ) and single housing unit ( housings, detached houses ).
WHO IS NOT ENTITLED TO ECOBONUS 110 ? Productive activities are excluded, such as warehouses, production companies, etc. Return to the page ROOFINGS for industrial warehouses, especially in the case of consumption and SEU, and/or in the case of replacement of roofings with ASBESTOS .
FOR WHICH INTERVENTION ON BUILDINGS CAN ECOBONUS 110 BE REQUESTED ? It can be requested to conduct one of the following interventions :

Intervention 1 : THERMAL COATING

THERMAL COATING BOTH ON BLOCKS OF FLATS AND SINGLE BUILDINGS : the first type of intervention aims to isolate the house and to obtain a passive house, through interventions on vertical and horizontal opaque surfaces ( roofs and walls ) by more than 25 % of the dispersant surface of the building . Therefore you apply a thermal coating to the house, it is not necessary to apply it to the entire house ; this leads to 110 %, as long as the house increases by two categories of energy class or higher class because of the intervention . Expenditure ceiling of 60,000 euro, in the case of blocks of flats for each real estate unit composing the building . The thermal coating has to be done with specific materials, that meet the minimum environmental standards; they go beyond the simple energy efficiency and concern the organic part of construction, that is to say the following disposal and the environmental compatibility . The thermal coating deducts also other interventions, as specified below .
BOILER AND UNDERFLOOR HEATING : It is already sufficient if with the thermal coating you have an increase of two classes, otherwise for example you can also combine the replacement of the boiler or the underfloor heating, according to the type of building .
ROOF, PHOTOVOLTAIC, SOLAR THERMAL : the installation of photovoltaic and solar thermal system forms part of the applicable interventions, together with the reconstruction of the roof .
DOORS AND WINDOWS : if you choose the thermal coating and then you replace doors, windows and fixtures in a single-family house and/or detached house, Ecobonus 110 is applicable, rather than the 50 % Ecobonus normally planned . It is necessary to check carefully if doors and windows can be considered common parts in the blocks of flats . This means that the incentive is applicable to the common parts and not to the private parts of a block of flats .
WHAT IS ELEGIBLE FOR INCENTIVES as mentioned, it is possible to include other interventions that are compatible with legal requirements, less than vertical and horizontal opaque surfaces .


RECOSTRUCTION OF THERMAL SYSTEMS – REPLACEMENT OF BOILER ( IN BLOCKS OF FLATS ) : the second type of intervention concerns the replacement of the winter air conditioning system with a heat pump system or condensing boiler, also in combination with photovoltaic . A deduction of 30,000 euro is planned for each housing unit . We refer to interventions on the common parts, replacement of winter air conditioning system with systems used for cooling or domestic hot water; combined and centralised systems should be included . The functions that the new system has to fulfil, among which centralised mode, air conditioning / cooling / domestic hot water, will be evaluated according to the system solution you think you will adopt ( for example the traditional condensing boilers are not enabled to cool ) . It is preferred to consider heat pumps, hybrid boilers or geothermal heat pumps, in terms of system technology . If the conversion, the energy efficiency and the retrofit are obtained through heat pump boiler or hybrid boiler, such intervention can be combined with photovoltaic .


INTERVENTIONS AFFECTING INDIVIDUAL BUILDINGS, PRIVATE HOUSES, DETACHED HOUSES ( NO BLOCKS OF FLATS ): the third type of intervention focuses on the replacement of the winter heating system with an heat pump heating system, hybrid or cogeneration installations that can be combined with the installation of photovoltaic systems benefiting from 110 % Ecobonus .

Further Information :


In addition to the three main interventions mentioned above, also other interventions can be included in the Ecobonus 110 package, if they form part of HOME BONUS, ECOBONUS, EARTHQUAKE BONUS, that is interventions already benefiting from 50 % ( for example walls, installations, fixtures, distribution system, security door, etc. ); anyway they must be interventions on buildings, aimed at making the building more efficient, interventions of energy retrofit . In case you want to replace household appliances, we must consider other bonuses such as FURNITURE BONUS . Interventions such as outdoor paths, tree – trimming are obviously excluded .


The question that arises is : does an engineer have to conduct a survey ?
If the building is already certified and it has an APE ( Energy Performance Certificate ) we can start from that, however in the case of such intervention the Law 10 is applicable .
Therefore the starting point will be established and the final objectives will be defined . An engineer carries out a first survey, then the second final check is sent to ENEA ( Italian National Agency for New Technologies, Energy and Sustainable Economic Development ) for authentication within the following 90 days, that is the same method of the other Ecobonuses . The improvement process is certified, in fact sanctions are expected for false declarations of engineers, thus it is necessary to avoid making mistakes .
Basically the first step is the declaration of the building energy class and then a professional engineer has to asseverate the final energy class . It is applied what the Law 10 requires, the energy requirements of a building are established and later an APE ( Energy Performance Certificate ) is issued . The APE must certify the starting class and the energy class obtained after the interventions .



The procedure used to implement the payment of interventions is the so – called ” INVOICE DISCOUNT ” .
We consider 110 % because we include the bargaining margin with the subject receiving the credit .
The owner of the real estate spends 100, then he transfers the credit to the part who has to amortize it, therefore the additional 10% compensates expenses and interests .


- A TAX DEDUCTION : i.e. to deduct costs incurred over the next 5 years from taxes .
- OR TO ASK FOR AN INVOICE DISCOUNT TO WHO CONDUCTS THE WORK : at the moment, the invoice discount may be requested for any type of intervention, derogating from the assignment of the credit and the ceiling of 200,000 euro, art.14 Law 63 / 2013 converted into the law 90 . Among the interventions appear : recovery of the building heritage, home bonus, installation of solar thermal collectors, replacement of condensing boiler, class A condensing boiler, heat and air generators, solar thermal, heat pumps for winter heating, hybrid systems, micro-generators, photovoltaic system, charging columns for vehicles, water heater, biomass heat generator, earthquake bonus, domotics (that manages the intelligence of the heating and cooling system, in recent years it has been encouraged at 50% since it is in the Home Bonus ).


- OR TO TRANSFER THE CREDIT TO ANOTHER SUBJECT OR OTHER SUBJECTS WITHOUT ANY LIMITATION : he can transfer the credit to banks and to anyone several times . Please note that in the past it was possible to transfer the credit to a subject of the own supply chain only once; now it is possible to transfer the credit to anyone, all subjects included ( banking, insurance, financial bodies, multiutilities ), as often as you want . The subjects are interested in acquiring the credit for several reasons :
- Too taxes to pay
- Interest in building a relationship
- To enter the market .
The Italian Revenue Agency is completing the partial information about the transformation of the credit, through a measure .



From a political point of view, a more specific scheme could be hypothesized, i.e. starting from buildings with lowest class, in order to reduce emissions and determine an improvement of energy efficiency, with greater impact in favour of situations with more pollution and energy leakage ; however, the same measure brings an advantage anyway, although distributed differently, allowing already high energy classes to improve their efficiency .
However this decree results in a race to building restoration for the heavy intervention through state incentives, with the risk of having medium-long time to carry out the work, because of the large number of work to be realized within the statutory period .
Therefore it is predicted operational and logistic stress on the building sector as a result of Ecobonus 110, and transversal skills must be hypothesized for a proper management of the commissions and the efficiency of the system .
The central issue is not just finding funds, but the know – how, the skills, the collaboration between installers and a coordination of activities are especially relevant for the effectiveness of the intervention, in terms of economic resources .
As mentioned above, the measure will have a big impact on the entire sector, and the credit matures at the end of the work, after checks, authentication, validation stamps . In order to do it, the companies need to obtain funding, especially if we talk about long – term work . In particular if the client decides to operate more complex interventions, considering that he won’t have to incur direct expenditures; consequently, he could carry out more important interventions such as a thermal coating, heat pump, fixtures, instead of replacing the boiler .
The 110% leap of the incentive is also aimed at impeding illegal work as much as possible, therefore in terms of promoting the emergence of undeclareted work .
The paperwork is not perfectly defined and it will be completed soon .

If we talk about heat pump, photovoltaic is included, so it is a combination between thermal and electrical system ; therefore operators need to team and acquire the necessary skills . The thermal coating is not a usual construction work and a specialised company is required .
The restoration could have no cost for the client, and this may encourage him to include a thermal coating, a heat pump and a photovoltaic system in the energy retrofit and efficiency . All this demands specialist skills that can not be ignored to carry out the work .
The specialised operators and the service providers have to collaborate with vertical companies specialised in a field, operators with certificates, able to ensure :
- guarantees and experience to complete the work perfectly and professionally .
- in addition to the quality of systems / installations, the use of materials falling within minimum environenmental criteria is required ;
- it is necessary that installers have been properly trained by the producer about the materials used ;
- the quality of the service must be guaranteed for years, also considering the multiannual nature of the interventions .


- The correct collocation of the thermal coating is important : if it has been installed incorrectly, after 5 years it could unglue itself or it could determine the formation of condensations and mould on the north sides, resulting in disputes in construction . Moreover, the thermal coating implies the rebuilding of the facades, so an interdisciplinary intervention that can be complex in some cases .
- To adopt the technology through heat pump could cause inconveniences, in absence of proper distribution systems ; the heat pump could be not efficient in solving the problem and ensuring the desired comfort, if you use high temperature radiators and inadequate emyssion systems . The problems would be more solvable in a single-family house, whereas it would be more complex in a block of flats . Bear in mind that rebulding the distribution system of water means operating invasive interventions in almost the entire house .


110 % Ecobonus contained in the “Decreto Rilancio” seems to be a very positive measure for the user who does not need to pay anything .
Expenditure ceilings are planned for each type of intervention and/or for housing unit, in order not to waste economic resources .
It has no income limit, for this it is a very expansive measure .
The company anticipates . Solid financial partnerships believing in the initiative are necessary for the implementation . The financial aspect becomes more important than the company or who conducts the work .
Some technologies are promoted .
Rise in prices can not be excluded both because the owner does not have to pay anything and because there are longer time and financial costs that can result in higher prices .
The cost of energy could increase too .
There are technical checks and a validation from the CAF (tax assistance centre) on the regularity of contributions and compliance with the various requirements . Therefore, in addition to a technical check, there is an administrative supervision . ENEA is supposed to do checks on site .
If you have taken advantage from this measure without then doing the work or respecting the statutory regulations, the requirement can be claimed with interest on the arrears, even with complications for the operator companies . If the company violetes or does not respect the rules, also the operator company is required to pay back with interest on the arrears . Moreover, the false declarations of the engineers are punished with sanctions; fines from 2,000 to 15,000 euro for each practice .


Please contact us to the following email if you are a building manager, a homeowner or a representative of various owners :

Thank you for your Collaboration!

Credit Risk, Trade Export Finance

credito trade export finance



For financial partners research, research and negotiation banking instruments for export / trade finance (documentary credits, stand by, international bank guarantees, forfeiting, etc.), export credit management CLICK HERE


Through the following contact format indicate:
- The course/s of interest through the identification number from 1 to 14.
- The city/ies closest to your residence or where you are willing to go to participate in the course of interest to you.
- Specify if are also willing to the provision of the course through distance education (digital platform).
- Your complete references to allow us to contact You.
- Further requests.


Through the expressions of interest to courses, according to the number of accessions room will be organized, both at distance and in locations closest to the residence of participants, using also dates of courses already planned in collaboration with other training organizations on which the teacher works. The cost of participation depends on the above-mentioned parameters and will be communicated following the pre-enrolment. The didactic administrative office of IBS thanks for your collaboration.


contact IBS by mail


- SECTION A: list training courses Foreign Trade, Credit Risk Management
- SECTION B: detail information on each and every course
- SECTION C: consultancy paths and advanced consultancy
- SECTION D: extra information on methodology, competencies, and certifications
- SECTION E: information on spokesman and consultant
- SECTION F: publications and tools on trade, export finance, credit management (available on request)

credito corsi trade export finance

SECTION A: Specialized training offer “Techniques of Foreign Trade”, Trade & Export Finance and Credit Risk Management


• Form n. 1 – Incoterms® 2010 the application profiles of the commercial terms in international sales, problems, operational implications, to optimise the use and reduce risks.

• Form n. 2 – International payments : payments that can be activated in foreign commercial transactions and related peculiarities, criticality.

• Form n. 3 – The documentary collections and instructions for use : transfer of operational competences on the Documentary Collections, characteristics, problems, regulations, functioning.

• Form n. 4 – International payments & credit risk management : weighted management of the insolvency risk in the context of the international sale, in the short, medium and long term, instruments among which financial instruments.

• Form n. 5 – Documentary credits : characteristics and peculiar aspects, legislation UCP 600 ICC and 745 ICC uniform international banking practice.

• Form n. 6 – New codification of the uniform international banking practice & operational management of the letter of credit : news after the Pub.n no. 745 ICC. Hyper-specialized learning process on documentary credits, operational management, news on the uniform international banking practice, impact on document production to accompany a credit.

• Form n. 7 – Workshop – Operational management of credit letter depending of the new codification of the uniform international banking practice : hyper-specialized learning process, management of two letters of credit, from the contractual agreement to proceeds, analysis of the credit and production of documents starting from the invoice and packing list.

• Form n. 8 – Documentary credits and transport documents : in the preparation of transport documents, analysis of the discordance while examining the documents accompanying a letter of credit. Specialistic learning process to understand problems and to produce conforming documents.

• Form n. 9 – Notice of refusal in the documentary credits and in the context of international bank guarantees : understand how to structure properly a notice of refusal during a non-complying presentation, in the case of documentary credits and international bank guarantees. How to behave with banks and beneficiaries after the document examination. Exercises and practical cases of real commercial transactions.

• Form n. 10 – The LC Import and the responsibility given to the bank for the letter of credit issue : in the issue of a documentary credit, how to give the bank the responsibility in the issue of the LCs, optimize the process, allowing the national importer to reduce risks in the purchase from abroad. Dynamics and problems in the designation and application for documents and transport insurance.

• Form n. 11 – International bank guarantees characteristics of the “guarantees” in use in the context of international trade, detail, criticality. Analysis of bank guarantees issued on behalf of the seller and buyer. Real cases, exercise on examination of payment guarantee.

• Form n. 12 – BPO – Bank Payment Obligation : new instrument of regulation for the firms that work abroad. Functioning and operational positioning of the BPO, examination of the principal articles of the URBPO ICC.

• Form n. 13 – Export Finance: Financial instruments for the global market : weigh up the financial and insurance instruments in service of the operators to finance and monetize your export credit. Processes and functioning of the forfeiting, insurance instruments Sace Spa and intervention of Simest Spa.

• Form n. 14 – Insurance of the export credit : weighted analysis of the insurance solutions to rule the credit risk in the sphere of international commercial transactions, in the short, medium and long-term, checking the referential normative framework, and the operational processes of the products Sace Spa, Sace Bt highlighting the functioning of the pertinent policies.


We consider appropriate to indicate that the form can be modified, integrated and made adequate to the needs of the customer with regard to the length, content, levels of deepening.


Addressee professions : Foreign Office agent, export managers, transport and banking operator, international trade operator.
Level of the course: intermediate
Length of the course: 4 hours
Objectives of the course: Despite the wide use of the Incoterms® 2010, there is still the need, from the international trade agents and operators, to understand better the problems and the dimension of operational consequences. Therefore, the objective of the form is to transfer adapted knowledge and technical skills to assimilate them and to optimize their use, in order to minimize the risks in the context of an international sale.
• Definition of Incoterms® or commercial terms and operational setting of application
• Chronicle and evolution of the Incoterms® from 1936 to 2010
• The Incoterms® and the process of containerization of the goods
• General principles of the Incoterms®
• Incoterms® and Documentary credits (Letters of credit – LC)
• The maritime terms and the multimodal commercial terms
• Sections and subdivisions of the official regulations
• From the EXW (Ex-works) to DDP (Delivered Duty Paid): punctual analysis of each commercial term;
• Deepening and Comments Wall Chart Incoterms® 2010
• Exam of practical cases
• Q&A – Questions and Answers Session.

Form n. 2: International payments

Formative objectives: This form sets the objective of explaining and clarifying the forms of payment that can be operationalised in a commercial transaction with a foreign country characterizing the concerning peculiarities (settlement, risk mitigation or financing).
Contents of the form:
• The Payment Conditions in the context of an International Sale Contract
• The payment in the Open Account mode
• The context of Open Account assisted by a demand guarantee or a standby letter of credit
o Differentiation between demand guarantee and SBLC (standby letter of credit)
o Study of practical cases
• Condition of advance payment assisted by an advance payment guarantee
o Exam of an advance payment guarantee
• Illustration of the Documentary Collection concept
o Documents against Payment: D/P
o Documents against Acceptance: D/A
o Documentary Collection: and the Financing Facilities
o Analysis and discussion of real cases.
• What is “the documentary credit”
o The documentary credit: definitions, characteristics and peculiarities, structure, details on the functioning, subjects, operational profile, reference standards
o The different types of documentary credits: “by payment”, “by deferred payment”, “by acceptance”, “by negotiation” and the related services of the banks
o Procedure of “Confirmation of a documentary credit”
• The Bank Payment Obligation: BPO (Bank Payment Obligation), correct definition, stakeholders, structure of the BPO and functioning
• Cheque, Bill of Exchange, Promissory Note
• Automated collections: electronic transfer of funds to the seller account
• Clarify the concepts and the tools of Settlement, Risk Mitigation or Financing
• Exercises
• Q&A Session (questions and answers).

Form n. 3: Documentary collection and instructions for use

Addressees and professional profiles to which the course is addressed: Foreign office agents, export managers, banking operators, international trade operators, enterprise consultants.
Level: for the discussed themes, the level is advanced
Length of the course: 1 day;
Didactic objectives: This form wants to place itself near the ambitious objective of managing to transfer specialized operational expertise on “Documentary Collections”, showing their characteristics and representing the most peculiar aspects.
In a distinguishing way, the problems and complexities linked to the loss collection of documents, as well as dynamics characterizing the disinvestment of the underlying credit claims, in the D/A sale (Documents against Acceptance) will be sounded out. Moreover, ample space will be dedicated to the study of regulations URC 522 ICC (Uniform Rules For Collection). To conclude, some practical cases will be examined to better gain familiarity with the operation of the instrument.
Contents of the course :
• The transport documents used in the international trade: CIM (Convenzione Internazionale per le Merci in ferrovia), AWB (Air Waybill), CMR (Convention des Marchandises par Route), MTD, Bill of Lading
• The main forms of settlement in the international trade
• The documentary collection: definitions, stakeholders, regulations, and operation working methods
• “Collection Cycle”: the stages of the documentary collection
• D/P (Documents against Payment) versus D/A (Documents against Acceptance)
• What are the differences between “Clean”, “Documentary” and “Direct” Collections?
• When it is appropriate to apply the documentary collection: the advantages and disadvantages of the instrument;
• What are the roles and the responsibilities of the banks participating in the process
• When collection is dishonored: actions, close examination of notices and procedures
• D/A (Documents against Acceptance): how to mobilize, therefore to convert in money the underlying credit claims
• How to prepare and organize the Bill of Exchange
• Rule the management of interests, banking charges, costs
• Analysis of the Documentary Collections: “Creation of Documents”, “payment in local and in foreign currency”, “protest” , “partial payments” and “case-of-need”
• How to clarify carefully and appropriately the “collection instructions” to the bank
• Analysis of practical cases
• Focus: URC 522 ICC (Uniform Rules For Collection): analysis of the main articles
• Assessment Test
• Decision-making case-study
• Q&A Session.

Form n. 4 : International payments and the efficient credit risk management

Addressees to which the course is addressed: Foreign Office agents of enterprises, export managers, and enterprise consultants.
Level: intermediate level
Length of the course: from 1 to 2 days
Didactic objectives: The objective of this form is to identify, explaining the characteristics, the instruments for a profitable and aware management of the credit risk in the context of the trade and international sales, in the short, medium and long term. Specifically, the instruments with a focus on the short term will be discussed, explaining, in particular, the financial instruments.
The Export Credit Risk Management
• Defer through a deferred payment, as instrument and means to create value for the client;
• How to rule the credit risk management: by what means?
• The distinction between financial instruments and assurance instruments
• Appropriate instruments in the short term and instrument in the middle and long term.
• Monitor the critical variables: country, amount, type of goods, client, bargaining power.
The financial instruments active in the short term and those in the medium / long term
• The documentary credit: definition of documentary credit, characteristics, and peculiarities, structure of an LC, functioning, stakeholders, operation, reference standards
• The different types of documentary credits: by payment, by acceptance, by deferred payment, by negotiation and the linked performances of banks
• The confirmation stage of a documentary credit
• How to mark the role, obligations, and duties of banks
• How to take correctly advantages of a documentary credit: how to produce appropriate documents, uniform and in line with the UCP 600 ICC (Uniform Customs and Practice, Rules and Use of documentary credits, contained in the Publication number 600 of the International Chamber of Commerce of Paris) and the new uniform international banking practice
• The international bank guarantees: payment guarantee and SBLC (stand-by letter of credit)
• Short accounts on the forfeiting and on the open lines.
The insurance instruments
• Details on the normative context: both international and community and national
• The consensus: definition
• EU directive 98/29 ( of the Council, 7th may 1998, concerning the harmonization of the provisions in the field of export credit insurance, for operations guaranteed both in the medium and long term) and EU communication on the short term
• The legislative decree 143/1998 containing provisions in the field of foreign trade and the decision CIPE n. 62/2007 operations and insurable risks by SACE S.p.a.
• The supplier credit: structure, functioning, operation. What are the insurance risks
• The policies Basic Online and Plus One
• Characteristics, operative functioning of the registration (change of ownership of a property) of Policy Sace Spa
• Insurance of export credit: key principles, fields of operation, prize, entirety, compensation expected by the policy, LMA, latitude, clauses of the first risk, recovery of the claim, and expected exemptions;
• Policies BT 360° and BT Sviluppo Export
• The policy Excess of Loss
• Observations and conclusions.

Form 5: Documentary credits

Addressees : Foreign Office agents, export managers, banking profiles, international trade operators, enterprise consultants.
Level: level advanced course
Length of the course : from 1 to 3 days according to formative objectives.
Objectives: This form aims at the ambitious and challenging objective of conferring specialized operational expertise on the documentary credits (also indicated informally as letters of credit), defining accurately characteristics and remarking the most peculiar aspects and complexities. An ample space will be assigned to the analysis of the rule UCP 600 ICC and to the accurate and careful assessment of the new publication 745 ICC relating to the uniform international banking practice. Finally, various practical cases will be analyzed to understand in depth the operation and the application profiles of the instrument.
Contents of the course :
• Export Credit Risk Management: how to rule and manage the risk linked to the credit in foreign commercial transactions
• Differences in the form and substance between financial instruments and insurance instruments
• The documentary credit (also indicated as LC letter of credit): definition, characteristics and peculiarities, structure of a documentary credit, functioning, stakeholders and operation, relevant legislation
• Types of documentary credit: by payment, by deferred payment, by negotiation, by acceptance and linked bank performances
• How to delete the bank risk and country risk: the operation of “documentary credit confirmation”, “silent confirmation” and “del credere”
• How to determine the role of banks?
• What does “negotiation” mean?
• What is the meaning of “designated bank” and which performance?
• What is a Draft?
• What is the meaning of “certified”, “visaed” and “legalized”?
• In the case of “Transhipment prohibited”: can it be assumed that it is sure?
• What does “blank endorsed” mean?
• What are the consequences if you lost the documents?
• Explanation and deepening in relation to the operational management of a documentary credit / letter of credit: how to generate and present compliant documents in accordance with the legislation UCP 600 ICC and the new publication 745 ICC regarding the uniform international banking practice.
• Analysis and discussion of various real concrete cases.
• Q & A Session.

Form n. 6: The new codification concerning the uniform international banking practice and implications in the operational management of the letter of credit: news contained in the Publication n. 745 ICC

Addressees and professional profile: Foreign Office agents, export managers, banking profiles, international trade operators, enterprise consultants
Level of the course: advanced
Length of the course: from 1 to 3 days
Didactic objectives: This form wants to place itself as a learning process of a hyper-specialized nature on the theme of documentary credits and on their proper operational management. Specifically, the basic news introduced by the uniform international banking practice will be examined, estimating their influence and repercussions on the production of documents accompanying a documentary credit.
• The documentary credit: definition and explanation of the instrument, through the distinctive characteristics, structure and its functioning, stakeholders, types of documentary credit, operation and relevant regulation.
• Describe and define the “uniform international banking practice”: what are you talking about in a precise manner?
• The news in the publication ISBP 745 ICC :
Considerations and preliminary remarks, general principles of the publication:
• Purpose of the publication ISBP 745 ICC
• Explanation of “Certifications” and “Declarations”
• Illustration of “Copies of transport documents”
• Clarification on documents to which the art. 19-25 UCP 600 ICC should not apply
• Clarification on definitions of: “shipping documents”, “third party documents acceptable” , “stale documents acceptable”, “exporting country”, “third party documents not acceptable”, “shipping company” and “documents acceptable as presented”
• Why the production language of documents is important
• The procedure to “sign a document”
• How to distinguish “Originals and Copies”
• What are the “Shipping Marks”
• Examine “Non-documentary conditions”
How to prepare documents in full accordance with the new ISBP 745 ICC indications:
• How to organize the “draft”
• How to prepare the invoice
• Multimodal Transport Document versus Bill of Lading
• What “On board notations” means
• Bill of Lading versus Non-negotiable Bill of Lading
• How to arrange the AWB and CMR
• How to prepare the insurance certificate
• How to proceed to the preparation of the origin certificate
• How to organize the Packing List and Weight List
• How to prepare certificates of the beneficiary
• How to complete and prepare analysis, quality and quantity certificates, certificates of inspection, sanitary and phytosanitary certificates, etc.
Analysis and study of real practical studies with accompanying documents
Q & A Session.

Form n. 7: Workshop / Laboratory: How to operationally manage the letter of credit after the new codification of the uniform international banking practice

Addressees and professional profile of participants: Foreign Office agents, export managers, banking profiles, international trade operators, enterprise consultants.
Level: advanced, hyper-specialized learning process
Length of the course: 2 days
Objectives of the workshop: The workshop is intended to be a learning process and hyper-specialized training on the operational management of a documentary credit (sometimes indicated also as “Letter of Credit”), in the light of the normative implications after the new publication concerning the international banking practice by the International Chamber of Commerce (ICC) of Paris. In this form is included the operational management of two (2) letters of credit, through a learning process that starts from the contractual agreement to the collection. Participants will be involved, firsthand, in the analysis of the documentary credit and in the production of documents, setting up the analysis starting with the collection and the packing list. To optimize the operation the availability of a work station is necessary, at a rate of 1 for each 3-4 participants.
Contents of the Workshop:
1st part- theory:
• Export Credit Risk Management: how to manage with efficiency the risk of credit in the context of foreign commercial transactions
• Differences between the insurance and financial instruments
• The documentary credit/letter of credit: definition, characteristics and peculiar aspects, structure and architecture of a documentary credit, functioning, stakeholders, operational profiles and relevant legislation
• The different families of documentary credits: “by payment”, “by deferred payment”, and also “by negotiation”, and then “by acceptance”, and the consequent bank performances
• How to delete the bank risk and country risk: what do the terms “confirmation of a documentary credit” “silent confirmation” and “del credere” mean?
• Checking of the bank role: how to determinate it?
• What does “negotiation” mean in the context of a documentary credit?
• What does designed bank means and to which performance is referred to it?
• Analysis and discussion on practical cases.

2nd part –Exercises and Workshop
Participants, divided into groups in advance, will be involved in the preparation of documents accompanying two (2) documentary credits, characterised by an increasing level of difficulty. At the end of the Workshop a session of debate and close examination with analysis and comparison of results will follow.

Form n. 8 : Documentary credits and how to prepare transport documents

Addressees of the course: Foreign Office agent and operator, banking profiles, carriers and shipping agents, enterprise consultants.
Level of the course: advanced, highly specialized learning process
Length of the course: 1 day
Objectives of the course: When examining and preparing documents accompanying a documentary credit (sometimes indicated as “letter of credit”), the largest number of discrepancies and inconsistencies concerns transport documents. Consequently, this form wants to be a specialized learning process of high expertise, based on the correct preparation of transport documents accompanying a documentary credit, with the aim to point out and assimilate the relevant problems, discordances in order to produce conforming documents without elements that can prejudice the success of the operation.
• The documentary credit: a digression among founding elements of a documentary credit, or sometimes indicated as letter of credit, from the definition to characteristics and structure, functioning, stakeholders, different types of credit, the operation and relevant regulations;
• The exemplary preparation of transport documents in full compliance with UCP 600 ICC and additional indications of the ISBP 745 ICC:
oThe “Multimodal Transport Document” document
o Peculiarities of the “Bill of Lading”
o “Sea-Way Bill” Document
o The “Charter Party Bill of Lading”
o Air Transport Document
o “Road, Rail” or “Inland Waterway Transport Documents” Documents
o Then “Courier Receipt”, “Post Receipt” or “Certificate of Posting”
• For each single transport document, these aspects will be analyzed: document issue, carrier identification, signature, shipping date, goods description, corrections, shipper and endorsement, notify party, consignee, possible transshipment, correct processing of all transport document copies.
• Analysis of artt. 26 and 27 of the UCP 600 ICC: in particular “On Deck”, “Shipper’s Load and Count”, “Clean Transport Document”,“Said by Shipper to Contain” and “Charges Additional to Freight”.
• Focus on: On board notations and concerning specific exceptions: complete analysis of possible options.
• Exercises and analysis of real cases
• Q & A Session.

Form n. 9: Notice of refusal in the context of documentary credits and international banking guarantees

Addressees: Foreign office operators, banking agents and enterprise consultants.
Level of the course : advanced, high expertise learning process
Length of the course: 1 day;
Didactic objectives: This form aims to understand the procedures to structure properly a notice of refusal in the context of a “non-complying presentation”, both in the context of documentary credits and in international banking guarantees. Specifically, more appropriate behaviors to use with banks and also beneficiaries after the examination of documents will be analyzed. During the learning process different real cases referred to concrete and really happened commercial transactions will be examined. To distinguish better and understand problems and complexities of a refusal notice, in the context of documentary credits and international banking guarantees, an exercise is also considered.
Contents of this form:
• The documentary credit (or letter of credit): starting from detailed definition, will examine characteristics, structure, functioning and operational profiles, stakeholders, types of documentary credits, operation and then the legislative framework.
• The role of the bank(s) in the context of a documentary credit
• “Complying presentation” versus “non-complying presentation”: effects and behaviors
• “Complying presentation” and subsequent acts or behaviors of the bank
• “Non-complying presentation” and consequent behaviors of banks: a detailed and complete analysis of the art. 16 UCP 600 ICC
• How to plan and organize correctly a notice of refusal
• In the case of an issue or putting in the circulation of an incorrect refusal notice: clarifications on the scope of the art. 16 UCP 600 ICC towards banks and also beneficiaries
• Notice of refusal: MT799, MT734 or manual?
• MT734 codes: analysis of “HOLD”, “NOTIFY”, “RETURN”, “PREVINST” codes
• Notice of refusal on the URDG 758 ICC regulations: focus and analysis of the art. 24
• SPECIALIZED FOCUS: a complete study of following real cases:
o LC (letter of credit) Iraq through Italian confirming bank
o LC (letter of credit) Jordan through Italian confirming bank
o Fortis Bank and Stemcor UK Limited versus Indian Overseas Bank
o LG Serbia through Serbian guarantor bank.
• Analysis and study of various concrete cases and exercises
• Q & A Session.

Form n. 10: The letter of credit LC Import: how to give to the bank the responsibility of the documentary credit emission

Addressees of the course: Foreign Office agents, export managers, banking profiles, international trade operators and enterprise consultants.
Level: advanced, high expertise
Length of the course: 1 day
Didactic objectives: The objective of this form is to optimize the process by which you give to the bank the responsibility of emitting LC (letters of credit), allowing the national importer to define and ideally contain until neutralizing risks linked to purchase process from foreign countries. To sum up, dynamics relating to problems linked to the designation and request of transport and insurance documents will be subjected to accurate assessment.
Contents of the form:
• The documentary credit: definitions, peculiar characteristics, structure of the credit, functioning, stakeholders and responsibilities, concrete operation, relevant regulations
• Classification of different types of documentary credit: “by payment”, “by deferred payment”, “by negotiation”, “by acceptance” and corresponding bank performances
• How to protect yourself and safeguard your position from the potential risk of receiving non-compliant goods
• Consider “autonomy limits of a documentary credit”
• Use the credit in a foreign bank: which effects cause on the applicant?
• What if we exclude the application of the Art. 12 b UCP 600 ICC ?
• How to efficaciously manage the risk for the travel of documents
• Pay attention to the “language of documents”: we will examine the reason why
• The transport document: first of all, who should issue it? And secondly, who should sign it and how?
• The following outcome: “Transport document issued by a freight forwarder is not acceptable”: which are the effects and relative consequences on the credit?
• With regard to Incoterms®, why avoid the use of the term CIF (Cost, Insurance & Freight)
• How to divide and prepare the insurance certificate request
• Case histories: analysis of practical cases
• Exercises: during the exercise, the participant will take charge of giving to the bank the responsibility so that it takes charge of the documentary credit emission
• Q & A Session.

Form n. 11: International bank guarantees

Addressees of the course: Foreign Office agents, export managers, banking profiles, international trade operators, enterprise consultants.
Level of the course: advanced
Length of the course: 1 day
Didactic objectives: This form aims to identify and transfer the founding characteristics of “guarantees” in use in the context of international trade, in order to examine and assimilate fully the peculiarities as well as the problems which characterize international bank guarantees. During the speech, the spokesman will analyze both bank guarantees issued on behalf of the seller and on behalf of the purchaser. This form, in addition, contemplates the study of various concrete cases of bank guarantees and a dedicated section to an exercise on the theme of the payment guarantee examination.
Contents of the course:
• International bank guarantees: description of characteristics and peculiarities, functioning, and operation, stakeholders, relevant regulations and functions.
• From the surety to the autonomous bank guarantee
• The distinction between “Direct bank guarantee” and “Counter-guarantee”: what are the differences?
• Description of different types of “guarantees”:
Payment Guarantee e SBLC (Stand By Letter of Credit)
Advance Payment Guarantee
Tender Guarantee (Bid Bond)
Retention Money Guarantee (type of banking surety)
Performance Guarantee
At last the Warranty Guarantee
• Regulations URDG 758 ICC: critical analysis of principal articles, inequalities compared to ISP 98 ICC
• Regulations URDG 758 ICC / ISP98 / UCP 600: analysis of differences
• How to divide correctly the text of a “guarantee”
• Case history: analysis of various concrete cases of Stand by Letter of Credit (SBLC) and international bank guarantees.
• Exercises: during the exercise, the participant may challenge himself on the theme of how to examine a payment guarantee – “The Cyprus issue”.

Form n. 12 : BPO – Bank Payment Obligation: the new instrument of regulation for all firms that work abroad

Addressees of the course: Foreign Office agents, export managers, banking profiles and international trade operators.
Level of the course: advanced, specialized learning process
Length of the course: 1 day
Didactic objectives: Describe and clarify the operational functioning and positioning of a BPO (Bank Payment Obligation), through the exam of basic articles of the regulation URBPO ICC.
Contents of the course:
• Current scenarios and future prospects of international trade
• Positioning of the BPO (Bank Payment Obligation)
• Benefits/advantages for bank, purchaser, and seller
• Bank Payment Obligation (BPO): definition and overview, stakeholders, functioning, structure, operation, and peculiarities
• Definitions: what do “Baseline”, “Established Baseline”, “Obligor Bank”, “Recipient Bank”, “Submitting Bank”, “Payment Obligation Segment”, “Zero Mismatches” and “Transaction Matching Application” mean?
• BPO versus LC / LG : what are the differences?
• BPO (Bank Payment Obligation) and different possible methods of financing
• The Silent BPO (Bank Payment Obligation)
• What are messages “ISO 20022 TSMT” and messages “Transaction Matching Application”?
• What does “BPO Flow” mean?
• BPO (Bank Payment Obligation): Establishing a Baseline
• The BPO process of amending
• Fulfilling a BPO (Bank Payment Obligation)
• What do “Single Shipments” and “Partial Shipments” mean?
• In the case of a “Data Match / Data Mismatch on Data Set Submission”: what effects can be expected?
•“TMA pre-match facility”, “TMA data & message matching rules”, “TMA transaction states” and “TMA special requests”
• What does “Corporate to bank messaging” mean
• Actual operation and diffusion of the BPO (Bank Payment Obligation).
Focus : Deepening of principal articles of Uniform Rules for Bank Payment Obligation (URBPO), and of publication no. 750 ICC in force since 1st July 2013:
o Art. 3 : Bank undertaking is irrevocable and independent
o Art. 6 : Bank Payment Obligations versus Contracts
o Art. 7 : Data versus Documents, Goods, Services or Performance
o Art. 10 : Undertaking of an Obligor Bank
o Art. 12 : Disclaimer on Effectiveness of Data
o Art. 13 : Force Majeure
o Art. 14 : Unavailability of a Transaction Matching Application
o Art. 15 : Applicable Law
o Art. 16 : Assignment of Proceeds
• Assessment test and valuation
• Q & A Session
• Conclusions and observations

Form n. 13: Export Finance: financial-insurance instruments for the global markets

Addressees of the course: Foreign office agents, export managers, international trade operators, enterprise and management consultants.
Level of the course: intermediate
Length of the course: 1/2 days
Didactic objectives: This seminar sets the objective of considering and analysing in detail both financial and insurance instruments available for operators to finance and convert in cash their export credit. Both operations of forfeiting and insurance instruments proposed and available through Sace Spa using the relevant intervention and assistance of the Simest Spa will be examined carefully.
Contents of the course:
• How it is possible to finance international sales: with which instruments and how?
• The Forfeiting: what is it, the operation of the instrument, which cost and advantages
• The regulatory framework: both international and community and national
• What is “The consensus”
• Analysis of the “EU directive 98/29 of the Council on 7th May 1998” and EU communication on the Short Term
• Legislative decree 143 of 31st March 1998 and CIPE decision n. 62 of 20th July 2007
• What is the “buyer’s credit”: structure and functioning
• Open lines: description and operation
• What do “confirmation policy of documentary credit” and “ CreDoc online” mean
• The supplier credit: description, architecture and operational functioning. The insured risks.l
• What do “policies Plus One” and “Basic Online” mean
• What is the “transfer of Sace Spa policy”: characteristics, peculiarities and operational functioning
• Financial guarantees of Sace Spa: description and operational profiles
• Exercises and practical case: analysis of a plant sale in Ethiopia
• Conclusions and discussion.

Form n. 14: Insurance of the export credit

Addresses of the course: Foreign office operators, export managers, international trade operators, enterprise consultants.
Level of the course: intermediate
Length of the course: 1 day
Didactic objectives: The objective of this seminar is to consider and probe insurance solutions for operators to manage with efficacy the credit risk in the context of international commercial transactions, in the short and medium-long term. Specifically, the legislative framework and operation in the concrete of Sace Spa and Sace Bt products will be explored for an overview, highlighting the functioning of relevant policies.
Contents of the course:
• How to manage properly the credit risk: founding differences between financial instruments and insurance instruments
• The most significant advantages of the insurance solution
• Exam of the regulatory framework: in international, community and national contexts
• What does “consensus” mean
• EU directive 98/29 of the Council on 7th May 1998 and Eu communication on the Short Term
• Legislative decree 143/1998 of 31st March 1998 and the CIPE decision n. 62/2007 of 20th July ;
• The supplier credit: operational structure, functioning and insured risks
• Description and functioning of Plus One and Basic Online policies
• What does the transfer of Sace Spa Policy consist in: peculiarity, characteristics, architecture and operational functioning
• Insurance of export credits: foundation principles, contexts of application and operation of instruments, entirety, premiums, previewed compensation, LMA, what is intended for “the latitude”, recovery of the credit, exam of first risk clauses, checking of excess franchises.
• The BT Sviluppo Export policy and BT 360° policy
• The Excess of Loss policy.

credito consulenza trade export finance


The consultancy concerns operational contexts:

INCOTERMS® 2010: choose the most aligned commercial term to needs, how much it impacts on payments methods, on documentary credits, which obligations and which responsibilities of parties, etc.

DOCUMENTARY COLLECTIONS: instrument definition for contractual matters: (D/P) Documents against Payment versus (D/A) Documents against Acceptance; exam of obligations and bank role in full respect of URC Publ. 522 ICC regulations; which actions, exam of notices and procedures to use in case the payment wouldn’t be made; (D/A) Documents against Acceptance: how to monetize the underlying credit claim; how to plan the Bill of Exchange. How to manage interests, expenses as well as bank charges; how to the following peculiar aspects: “Creation of Documents”, “partial payments”, “payment in local and in foreign currency”, “case-of-need” and “protest” and how to correctly specify “collection instructions” to the bank.

DOCUMENTARY CREDITS: LC (letter of credit) definition in contractual terms, LC text analysis, possible proposal to amend, research of confirming bank, valuation of bank obligations and responsibilities, determine the compliance of documents as regards to regulations UCP 600 ICC and to the Uniform International Banking Practice relevant regulation, notice of bank refusal exam, manage possible controversy with the bank in the area of discordances, various communications, etc.

INTERNATIONAL BANK GUARANTEES AND SBLC (STANDBY LETTER OF CREDIT): LG / Standby Letter of Credit definition in the context of the contract, checking of the LG / Standby Letter of Credit text, propose possible changes / integrations / or clauses, confirming bank scouting (or guarantor bank), which obligations and responsibilities of the bank, check of document compliance in full respect of regulations UCP 600 / ISP98 / URDG 758 ICC, right management of examination, administration of a possible controversy with the bank as regards to discordances, various communications, etc.

BPO – BANK PAYMENT OBLIGATION : complete assistance in managing of the instrument: definition of the contract with the client, research of the Obligor Bank / Recipient Bank, scouting bank for the issue of the “silent confirmation” (also called “silent obligation”), checking of contracts, identification of a Baseline, possible changes of the BPO, assistance in the case of Data Mismatch, support according to regulations URBPO ICC Publication n. 750.

INSURANCE OF THE CREDIT: isolate the most appropriate and convenient insurance solution for the need of parts involved, analysis of relevant contracts, etc.

EXPORT FINANCING: identify and manage the most appropriate instrument to finance exports of investment goods: forfeiting, open lines, Sace Spa policies and consequent transfer.

FORFEITING: scouting forfeiter to take advantage of a pro-sale discount of LC / promissory notes, to most convenient market conditions, the study of contracts, administration of the complete operation.

SACE SPA INSURANCE PRODUCTS: identify the most appropriate insurance product with regard to needs of parts.
Assist the client in the operational management of LCs (letters of credit), through an innovative service of assistance and technical consultancy. The service includes:
• possible involvement in the trade agreement between parts to characterize, upstream, connotations and attributes of the LC
• LC analysis and possible changes
• possible research of confirming bank
• production of documents relevant to the beneficiary on presentation of invoice, moreover packing list and other useful information for the production of documents
• manage relations with third party institutions (carrier, inspection company, etc.) to produce relevance documents
• prepare a draft of documents to generate by third party institutions such as CCIAA (Chamber of Commerce, Industry, Crafts, and Agriculture)
• exam of documents that have been produced by third party institutions (for ex. Eur1, ATR, Certificates of Inspection, Certificates of Insurance, etc.) where it isn’t possible to produce above-mentioned drafts
• possible presentations of documents at the bank in the name of the beneficiary
• possibly managing the controversy with the Bank as regards to discrepancies, regulations, etc.
- get to reset c.d. discrepancy fees
- minimize bank charges
- guarantee sure payments and “on time”
- reduce the DSO (Days Sales Outstanding)
- optimize the business treasury
- optimize the business relationship with the client
- optimally manage human resources in the company, assign them to other functions.
- after defining the credit, it is validated by a consultant
- the beneficiary takes charge of sending goods
- the beneficiary can send to the consultant the invoice, packing list and further possible information for the production of documents
- the consultant in this way can prepare:
• pdf files (which includes a possible “draft”, extra copy of documents, fax communications to send to third parties, etc.) with all documents relevant the beneficiary included, previewed copies by the credit
• a possible model of the Certificate of Origin (print on CCIAA form)
• draft of documents by third parties (transport documents, various declarations, etc.)
• mandate by which taking documents to the bank.
- The beneficiary will receive a communication with attached instructions to use correctly the credit via email / Pec with mandate – the whole to report on your own letterhead– pdf files of relevant documents, the whole to print and sign subsequently. The beneficiary will receive documents in the original format by third party institutions and he will deliver documents in the bank.



Creating value for importers, exporters through high value-added supply of specialised services in the context of international trade, in order to improve performances on international markets.


- Over 15 years of relations with institutions, banks, and industrial associations, national chamber-based systems, companies.
- ICC Certificates of Achievement on: Incoterms® 2010, Mentor 600, URC 522 ICC and Collections, URDG Master, ISBP Online, URBPO ICC, Introduction to Trade Finance, Going Global, DC Master, ISP Master.
- Formative and consultancy planning with Chambers of Commerce and ICE-Agenzia.
- Formative services of consultancy and assistance with high specialization in Trade and Export Finance.
- Administration of dynamics concerning the right management of credit risk in the context of international commercial transactions.
- Credit risk management, valuation, check, credit risk resolution through insurance as well as financial operations, in the short term through the Trade Finance and in the medium-long term through the activity of Export Finance.

- Specialistic expertise on different financial instruments in the short term: documentary credits, SBLC (Standby Letter of Credit), international bank guarantees and also bank payment obligation.

- Specialistic expertise in various thematic segments linked to Consultancy and Foreign Trade Training and:
• Internationalisation of Businesses
• Incoterms® 2010
• Export Management
• Documentary Credits, SBLC (Standby Letter of Credit)
• Documentary Collections
• International Bank Guarantees
• BPO – Bank Payment Obligation
• Insurance of the credit
• Export Financing
• Sacebt and Sace Spa Insurance Products
• Forfeiting

ICC Certificates of Achievement:
• Incoterms ® 2010
• Introduction to Trade Finance (EBRD European Bank for Reconstruction and Development Certificate)
• URC 522 and Collections (ICC Uniform Rules for Collections)
• URDG Master (URDG 758 ICC)
• URBPO (Uniform Rules for Bank Payment Obligations)
• ISBP Online (ISBP 745 ICC), The new Uniform International Banking Practice
• Mentor 600 (UCP 600 & Documentary Credits)
• DC Master (Advanced Online Training & Instruction in Documentary Credits)
• Going Global – ICC training on trading internationally (EN)
• ISP Master (Advanced Online Training & Instruction on ISP98 ICC)
• “TFP Professional Award for top class winning answer under EBRD TFP Trade Clinic” magazine Trade Exchange – The Ebrd’s Trade Facilitation Programme, Technical Trade Finance Forum, by ICC Georgia 2015.

Formative partner and training activities, on themes linked to the internationalisation of businesses, planning to coordinate structured and customized training courses according to the customer. Addressees: commercial operators and export office agents, banking profiles, export managers, enterprise consultants or young students.

Taught lessons, slide projection, use of the flip chart, constant interaction with participants. Didactic activities attended by methodologies intended to allow the participant to feel protagonist of didactic learning process. Business concrete real cases, role playing, use of the business game, didactic methods and analysis of concrete cases, reconstruction of business problems, elaborating reference schemes that push to action and specific situations offered by didactics to test out acquired competences.

Exercises and practical cases, descriptive material, slides, and articles, in electronic format.

credito trade export finance specialist

SECTION E: Consultant profile, spokesman Dr. Domenico Del Sorbo

Dr. Domenico Del Sorbo, graduates in Economy of the International Trade and Currency Markets, MBA degree in International Business – MIB – School of Management – Trieste MBA Accredited AMBA and ASFOR. Deep connoisseur of business internationalization processes and of credit risk management in the context of international commercial transactions. Particularly expert of Trade ed Export Finance instruments. He obtained the following certificates: ICC Certificates of Achievement on Mentor 600 (UCP 600 and Documentary Credits), URDG Master (Online Training & Instruction in URDG 758 ICC), Incoterms ® 2010, URC 522 and Collections, URBPO (Uniform Rules for Bank Payment Obligations), ISBP On line (ISBP 745 ICC), DC Master (Advanced Online Training and Instruction in Documentary Credits), Introduction to Trade Finance (Online Training in Trade Finance), Going Global – ICC training on trading internationally EN (EBRD Certificate), ISP Master (Online Training Programme in Standby Credits and ISP98). Consultant and trainer at Chamber of Commerce in Italy, institutions, industrial associations, ICE-Agenzia. He has active collaboration with: Business School of Il Sole 24 Ore, Aldini Valeriani Foundation. He writes for newsletters of the Italian chamber-based system and for Mercato Globale. He is engaged in assistance activities and specialistic consultancy in the context of documentary credits, banking guarantees for different SMEs (small and medium enterprises). He is a consultant on behalf of Sistema Camerale Servizi S.r.l. (formerly Mondimpresa), Unioncamere Lombardia, Unioncamere Puglia, Unioncamere Campania, CCIAA of Chieti, CCIAA of Ferrara, CCIAA of Pescara, CCIAA of Forlì-Cesena.

Services for preparing articles on “techniques of foreign trade” themes and scientific coordination in the context of publications relating to international trade techniques.

SECTION F: Publications and Tools (available to users that will request them upon enrolment to the website)

• Global Trade Finance Program IFC
• Crediti Documentari : preparazione della Charter Party Bill of Lading
• La banca designata nell’ambito di un credito non confermato
• La banca designata nel frangente di un credito confermato
• LC Lettere di credito: dopo il cambio della normativa
• La banca emittente : in una LC credito documentario
• Il finanziamento della attività di esportazione attraverso le operazioni di credito documentario
• BPO – Bank Payment Obligation : il nuovo strumento per regolare gli scambi degli operatori del commercio internazionale
• BPO – Bank Payment Obligation : funzionamento ed operatività
• BPO – Bank Payment Obligation: la normativa di riferimento
• LC – Crediti Documentari: “ on the basis of the documents alone “
• LC – Crediti Documentari: come allestire i ‘beneficiary’s certificate’
• LC – Crediti Documentari: come disporre la draft
• LC – Crediti Documentari: come predisporre il weight list
• LC – Crediti Documentari: come organizzare il packing list
• LC – Crediti Documentari: il ruolo banca avvisante
• LC – Crediti Documentari: come predisporre la Bill of Lading
• LC – Crediti Documentari: come disporre il documento di trasporto multimodale
• LC – Crediti Documentari: come allestire il Certificato di Origine
• LC – Crediti Documentari: come predisporre il documento di trasporto aereo
• LC – Crediti Documentari: come allestire la Sea WayBill
• LC – Crediti Documentari: come disporre il documento di trasporto su strada
• LC – Crediti Documentari: come preparare correttamente la fattura

• Guide: Export Credit Risk Management

AVAILABLE TOOLS ON REQUEST: Please send request through the section Contacts on the website.
• FIATA – Shippers Intermodal Weight Certification “ SIC “
• SWIFT Transportation Fields
• Clauses in Bills of Lading Allowing for Release of Goods without Requiring Presentation of the Original sheet
• Signing a Transport Document, under UCP 600 ICC
• Lost in transit documents, under UCP 600 ICC
• Form concerning the Certificate of Origin
• CMR form
• On board notation summary
• Swift Trade Messaging Trends 2015
• CMI Uniforms Rules for Sea Waybills
• Opinion Handling Procedures & TORs
• Financial Instruments Features
• Straight versus To Order Transport Document
• Movements
• Rotterdam Rules & Hamburg Rules
• Incoterms® 2010 and LC Documentary Credits
• LC – Documentary Credits: the role of the Bank
• LC – Documentary Credits: On Board Notation
• Settlement, Risk Mitigation or Financing?
• Financial sheet of Iran 2016
• Financial sheet of Saudi Arabia 2016
• ICC Notes, on the principle of strict compliance
• Recommendation 12 Measures to Facilitate Maritime Transport Documents Procedures
• Uniform Commercial Code
• UCP 700 ICC Wish List
• Map of the Credit Insurance
• Slides Bank guarantees in international trade
• United Nations Convention on independent guarantees and SBLC (Standby letters of credits)
• Slides – ISBP 745 ICC
• Slides – Incoterms® 2010
• Slides – Documentary Collection
• Slides – LC – Documentary credits
• Slides – Export Finance
• Slides BPO (Bank Payment Obligation)
• The Hague-Visby Rules
• Institute Cargo Clauses
• Warsaw Convention of 1929
• Montreal Convention of 1999
• FIATA, FCR Forwarders Certificate of Receipt
• Fiata – Negotiable Multimodal Transport Bill of Lading
• FIATA FFI, Fiata Forwarding Instructions
• FIATA FCT, Forwarder Certificate of Transport
• FIATA, FWR Fiata Warehouse receipt
• Marine Insurance, Act 1906
• Bills of Exchange, Act 1882
• ICC United Rules for Multimodal Transport Document
• CMR Convention
• CIM Convention
• Vienna Convention of 1980
• New York Convention of 1958
• Geneva Convention of 1930
• ICC – When a non-bank issues a letter of credit
• ICC – The determination of an Original document in the context of UCP
• ICC – On-board Notation Paper
• ICC – Transferable credits and the UCP 500
• ICC – Guidance Paper – Use Of Sanctions Clauses
• Form concerning the Certificate of Origin
• Rethinking Trade and Finance 2015
• Bill of Exchange
• Letter of Credit Instructions Form
• Fax Transmission Report


- IBS foreign DESK
- IBS Blog
- Country profiles and international or geopolitical articles
- Principal Documents in International Trade
- Credit Risk definition (from the website of the Borsa Italiana)
- ICE – Agenzia
- EBRD Bank
- European Central Bank
- International Monetary Fund
- Ministry of Economic Development
- Custom Agency
- Customs Glossary
- European Union Activities in International Trade



EN Lands suitability for photovoltaic plants

EN preliminary information photovoltaic

Characteristics and requirements of lands :

EN photovoltaic size inclination electric substations

To install photovoltaic plants the farmlands, industrial lands, former pits, reclaimed lands or former landfills must have some fundamental requirements :

- For industrial lands and former pits : starting from 3 hectares
- For farmlands : starting from 6 hectares

- With the tracker technology : in case of uniaxial trackers the inclination must be below 15 % .
- Fixed system : in case of fixed installations the inclination must not exceed 25 % .

- MEDIUM VOLTAGE SUBSTATIONS : for MV installations, the substations must be adjacent to the land, a few hundred metres away . There are 2 types of medium voltage substations : concrete substations and pole mounted substations .
- HIGH TENSION SUBSTATIONS : they can be found a few Km away depending on the size of the land . The bigger the land, the greater is the distance to connect it with the network . If the land is small, the substation must be nearer .
By opening the orange link it is possible to read the characteristics of the transformer and distribution stations as well as the medium voltage and the high tension substations .

- The lands must not have restrictions .

- Farmlands : Lombardy, Friuli Venezia Giulia, Piedmont, Tuscany, Latium, Molise, Basilicata, Campania, Apulia, Sicily, Veneto, Calabria and Abruzzi .
- Industrial lands and former pits : every region .

EN our Offer photovoltaic


PURCHASE : It is possible to proceed with the purchase of the spot bulk buying all the land, sometimes including some unfitted parts that will be quantified after the drawing up of a layout with the illustration of the panels arrangement and the installed power .

BUILDING LEASE ( DDS ) AND ITS CESSION : It is possible to pay an annual fee, an income that in the photovoltaic sector is called “ Cession of the Building Lease ” which lasts for 30 years . With the methods agreed an amount multiplied by the number of hectares is paid annually . The DDS includes the disposal of the installation provided for by law and the restoration of the land to the previous conditions .

DISCOUNTED BUILDING LEASE : The payments for the sale of the building lease are paid in a single discounted solution .

EN photovoltaic send us information about a land


1. DOWNLOAD THE PACKAGE TO COOPERATE : This ZIP file contains 5 documents
3. WATCH THE VIDEO TO FIND OUT HOW TO DRAW A KMZ PERIMETER : KMZ how to draw the perimeter of a plot

EN contact us for photovoltaic


send to orange

Send us an e-mail or call the number +39-348-2920146


SOLAR ROOFS :Go to the Solar Roofs web page, Industrial Covering
WIND ENERGY : Go to the Wind Energy web page
POSITION OF THE SUN The position of the sun and interactive maps

EN photovoltaic go to Home Grid Parity page


EN photovoltaic guide for landowners



This article is for private shareholders or companies that want to rent their land in order to install photovoltaic systems and have useful information on the sale or rental of land for photovoltaic systems .
In the following article we will try to illustrate the most important topics : we will clarify all the central aspects that are useful for landowners, so that they can better understand how to handle negotiations and pay more attention to middlemen who can be more or less competent .

The rent of an agricultural, industrial, building land, a former pit or a landfill to build a photovoltaic system can be a sustainable choice for the planet . It can be a support for renewable sources of clean energy and at the same time an advantageous opportunity of profit. Keep reading to understand how it works .


Is renting a land for the installation of photovoltaic solar panels a good deal ?
Is renting lands for the installation of photovoltaic power stations safe ? Or is it better to sell them ?
Renting lands to install photovoltaic power stations is a good idea, but after that who will be in charge of their disposal ?
Which are the main requirements and characteristics that make an agricultural or industrial land interesting for the installation of photovoltaic power plants ?
Which are the necessary authorizations that a land should have in order to be adequate for the construction of photovoltaic power plants ?
What does the rental contract ( cession of the building lease ) stipulated between investors and landowners provide for ( whether it be for agricultural and industrial lands, landfill or former pit ) ?
What should the landowner pay attention to ?
How to decide between the different offers and the deposits that sometimes are provided at the signing of the preliminary agreement and sometimes after the agreement with Enel or Terna ?
Why is it important to request a layout together with the receipt of the rental offer ( cession of the building lease ), sale, or discounted DDS ?
This is how you can rent an agricultural or industrial land, a former pit or landfill for the installation of photovoltaic power plants .


The rent of an agricultural land, a former pit, a landfill reclaimed or to be reclaimed and an industrial land used for the installation of a photovoltaic system, is based on the availability and use of a building land . “ Building ” means that the land has obtained the authorizations issued by the authorities, the permission and authorization for the connection to the electricity network .



A lot of farmlands, industrial lands, former pits, in order to be suitable for the installation of photovoltaic systems, must have basic requirements, otherwise it is not possible to rent or sell lands for the installation of a photovoltaic system . In the photovoltaic sector and business the following characteristics are the most important ones :


There are 2 fundamental conditions for the exposure :
- Level ground
- Hilly ground with a southern exposure

It is a relatively easy requirement to verify, since a compass can be sufficient to check the exposure of the land and with the ” Show Elevation Profile ” function on Google Earth it is also possible to display the slope graph .


If there is a level ground, according to the technology used :
- With fixed installations you can also install 1 MW per 1 hectares
- With Trackers ( the uniaxial ones for example ) it is possible to install around 1.1 – 1.3 MW in 2 hectares .


An essential element is the conformation / type of land . It must be a level ground or have moderate slopes ( topographic slope ); in case of hilly terrain, a study should be carried out in order to verify if the ground is exposed in a southerly direction and if there are no slopes that will make the installation of panels difficult . Nowadays even if with technology we can work with high slopes using fixed installations, this involves enormous expenditure and sometimes the business plan of a project can be penalized .

Sometimes the land can also have moderate slopes, but in a northerly direction : the slopes penalize the land, because those kind of inclination reduce the output of photovoltaic panels .


The absence of restriction means that the land must not have national, regional, provincial or municipal restrictions ; otherwise, we will only consider the part that is exempt from the constraints . The landowner can check if the land has restrictions by going to the town hall and paying for the issue .

Apart from the exposition, the other crucial aspect that needs to be verified is if the farmlands, industrial lands, former pits, reclaimed and non – reclaimed landfills, are affected by landscape, hydrogeological and hydraulic restrictions, SIC and ZPS restrictions , naturalistic and water protection restrictions as well as restrictions linked to areas adjacent to motorways, railways, rivers, watercourses and others .

The complete analysis of the restrictions is carried out by our internal engineering service, however it is very useful to have the CDU ( Certificato di Destinazione Urbanistica ) that the landowner can request at the town hall ( usually the Town Planning / Environment / Territory office ). The CDU is a document issued by the public administration which contains the urban planning indications concerning a building or a land .

The cost of requesting the CDU can vary from 30 – 40 Euros up to about 60 – 70 Euros depending on the town councils : it can take from one week to more than one month . It is an official document and is drawn up taking into account national, regional, provincial, municipal and other restrictions .
It will be attached to the papers once you decide to sign the Preliminary Agreement to activate the authorization process, which starts with the connection request to the electricity network ( TICA ), the environmental impact assessment ( EIA ) and other subsequent steps .


The adjacency of the lands to an electricity substation or power line is essential . The lands ( farmlands, former pits, industrial lands or landfills ) must be near to an electricity substation, to a medium or high voltage power line, or to a transformer station . This is because creating a new power line involves enormous expenditure .
The adjacency to electricity substations and the connection to the electricity network is perhaps the most important requirement . It is the sword of Damocles because it determines whether to continue or not with a project .

This is a very important characteristic if you want to rent farmlands, industrial lands, former pits and landfills for the construction of photovoltaic systems . A photovoltaic system makes sense only if it is connected to the power line : if the connection costs exceed the maximum allowed, unfortunately the land will not be considered suitable, even if it is a level ground and has no restrictions .

It is not easy to understand the electrical aspect and evaluate whether the land is suitable or not . Various factors must be considered, such as :

- The size in hectares of the land
- The region where the land is located
- The average annual statistical radiation at that latitude
- The type of technology used : for example an uniaxial tracker or a panel with a fixed system, the one that best fits the photovoltaic system that needs to be built .
- The investor ‘s preferences concerning the type of technology that will be used .
- For installations that need to be connected to an Enel medium voltage substation, it is necessary to know the distance in meters between the land and the medium voltage cabin ( concrete substation and pole mounted substation with a transformer attached ) and the distance between the land and the Enel substation 132 KV or 150 KV .
- For the lands where photovoltaic systems will be connected to a Terna substation, meaning those projects in which a high tension is used, it is important to measure the distance between the land ( farmlands, industrial lands, former pits, landfills ) and the electrical substation of Terna at 150 KV or 220 KV or 380 KV . It depends on the power that needs to be installed which is linked to the size in hectares of the lands .
- In case of big lands where large powers are needed, it is possible to build a cabin can that would be quite expensive but it will be possible to bear all the expenses . For small – scale photovoltaic system projects, building a substation or passing the power line over the ground to create a new power line is very expensive and is not convenient for the investment .

Terna and Enel constantly check the structure of the network and, according to their priorities, if there are requests for connections in certain areas they are ready to invest . They can plan the construction of new substations, or the expansion or renovation of lines and increase the capacity of already existing substations ( however this takes a long time and often it is not possible to wait ).


Renting or selling lands to build photovoltaic power plants has an economic advantage, both in the case of a farmland, former pit or landfill . It is important that the photovoltaic power plants are installed in a professional way, according to the latest technologies and through trustworthy and bankable investors that have gained experience in this sector .

If the check on farmlands, former pits, industrial lands and landfills are successful, meaning that there is a level ground, the land is near to the connection to the electricity network and has no restrictions, it is possible to sign the preliminary agreement between landowner an investor . Then it will be possible to choose between different solutions :

THE RENT OF LANDS OR TO BE MORE PRECISE CESSION OF THE BUILDING LEASE ( DDS ). Usually after 30 years with the payment of a rent, an annual or a six – monthly one; the amount for the rent of farmlands goes from 1800 Euro to hectare per Year to 2500 Euro per hectare per year, up to 3000 Euro per hectare per Year ( for the rent of land, if the connection is on the ground or adjacent to the ground : the electrical substation is 150 KV, 220 KV, 380 KV ) .For industrial lands the amounts may be slightly higher even if for the DDS there are not big differences between farmlands and industrial lands .

THE SELL OF LANDS and purchase of the land by an investor at a price per hectare that needs to be negotiated between the parties ; the amounts are strongly linked to the connection costs of the photovoltaic plants that will be built . The expected average annual irradiation, as well as the average prices for the region considered, the slopes and the conformation of the land itself must also be taken into account . As for the sale of land, sometimes the landowner wants to sell in bulk . However, a part of the land can be unusable because it has restrictions . How to solve this problem without breaking up the estate ? In many cases, it is possible to overcome this problem by buying the land in bulk ( this is the “ body selling ” method ). However it is easier for the investor to purchase suitable parcels only, the ones without restrictions (“ measure selling “ method ). The investor attributes a lower price to unsuitable parcels and finds a selling price that is fair for both parties .

DISCOUNTED RENT OF LAND : It is a method that allows the landowner to rent his land for thirty years to build photovoltaic systems . The landowner remains the owner and receives the rents in a single solution that has a 50 % discount . These are favourable terms if the landowner wants to receive the amount immediately while retaining the title of ownership . Obviously, in this case, the investor renounces to the financial benefit of reducing the payments for the rent of land, and at the same time he does not have the ownership : in this case there is a disadvantage . For these reasons, the discounted amounts regarding the cession of the building lease cannot usually exceed the amounts that, in case of purchase, should be paid .
It is a question of fully understanding the needs of the landowner and suggesting a contractual solution that best fulfils the needs of the parties .
IBS has no advantage over one of the 3 possibilities to proceed, therefore it is neutral and can facilitate a negotiation that satisfactory is for everyone . The same goes for the amounts that need to be paid to the landowner, in case of sale, DDS ( building lease ), discounted DDS . In this case IBS will be able to find a crossover between the parties .


The rent / sell of a land can be applied to farmlands, industrial lands, former pits or other lands that are granted for photovoltaic systems . However,

MIDDLEMEN : It is better to be aware of those people who are not specialized in the photovoltaic field and middlemen who promise off – market amounts . The rules in the photovoltaic sector are precise and the Grid Parity amounts that can be paid without government incentives are known and within certain standard values . A reliable investor or a competent operator in the photovoltaic sector will not waste his money and he will need a profit of margin that is the result of the following equation :


For this reason, if the land is very expensive, outside the market values and the connection is not economic, the photovoltaic project will not be sustainable . Therefore you need to ask yourself whether the person who made the offer, is informed and / or competent .

DEPOSITS AND ADVANCES : The same applies when high amounts are promised to the owner, as a deposit or advance, directly at the sign of the preliminary agreement . This also suggest that it is important to know more about the person that makes the offer .This is because as long as Enel or Terna do not confirm the connection solution ( i.e. in which substation the photovoltaic system should be connected ), it is not possible to confirm the connection costs and the feasibility of the project . Therefore the first deposit is bearable after about 2 – 3 months or within the first 6 – 8 months maximum ( if there are delays or there is an Enel / Terna coordination when photovoltaic systems require it ), when Enel or Terna confirm and officially communicate where our photovoltaic power plant should be connected . At that point every information for the business plan will be available and it will be possible to proceed with the operating project, paying the connection and the deposits to the landowners . Before this moment, we could also make estimates, studies on the feasibility of the substations where a connection is possible, however, only the operators Enel or Terna can confirm the authorization and the photovoltaic project .

LAYOUT : For these reasons, we advise the landowners to ask to those people who send them an offer for the rent of land ( or sale or transfer of the building lease ), a layout of the plant that should be built, together with the power that is expected to be installed, the arrangement of the panels on the usable surface and any particles or areas that have restrictions ( or the configuration of the land that oblige us to reject those areas ) . This will oblige your interlocutors to take a position and the responsibility . If they cannot send you a layout, you need to ask yourself why . Most of the times it is because these people do not have a real buyer and they only want to have preliminary agreements and options on lands . Then they want to arrange a signalling fee with an investor ( at best ) or with other middlemen . However, usually the contracts for the options on the lands, that are submitted and signed by the landowners, who are unaware of this, are ineligible . For this reason, in order to be carried out, they need to be signed again with different clauses . Or we have been contacted several times by landowners who told us about those people ( middlemen but unfortunately in some cases investors too ) who once signed the preliminary agreement, ask to negotiate it downwards after receiving the TICA . Later the landowners noticed that it did not meet their expectations and it was not what was originally promised . This usually happens in the case of off-market prices .

For these reasons, asking for a layout of the photovoltaic power plant that will be built, clear the ground from shady individuals . Anyway the layout of the plant is obligatory in order to have a good offer, it is easier to understand the variables involved and the precise amounts for the rent ( cession of the building lease ) or sell of a land for the construction of a photovoltaic power plant .


The rent of farmlands, former pits or reclaimed lands for the installation of a photovoltaic power plant can be a great opportunity . Renting a farmland or allowing the use of an industrial land for the photovoltaic plant can be a great source of income and a thirty-year rent .
If the lands do not have restrictions ( farmlands, industrial lands, landfills, former pits ) it is possible to proceed with the signing of a preliminary agreement, the request of the connection to the electricity network and the planning of a photovoltaic power plant, according to the national rules provided for by law : a single authorization ( AU ) which is not provided for small lands of about 2 hectares installing less than 1 MW where it is possible to use a PAS ( it is a procedure that aims at the construction and exercise of photovoltaic power plants ) .
The licensing process on former pits or industrial lands is easier and quicker because the destination and the code of the lands themselves is similar to the use that concerns the installation of photovoltaic power plants . For the farmland more passages and longer times are needed because the code of destination of the lands, to use as a building land for the installation of a photovoltaic plant should be changed .

Therefore, after having verified the constraints, and having created the engineering layout of the preliminary design of the photovoltaic plants, in the past the connection through the ” General Minimum Technical Solution ( The STMG defines the connection criteria for photovoltaic systems above 1 kWp up to large plants .)” to Enel or Terna was required . Once confirmed by the network operators, it indicated the connection point, the new line that needed to be implemented and built, and an estimate of the costs for the construction . Once the connection solution proposed by Terna or Enel was evaluated and accepted, it was possible to move on to the next step and to send the design of the final project, through which Enel or Terna were authorized to issue the STMD .

Currently in conformity with the resolution no. 99, 2008 ( also see enclosure A to the enclosure ), Enel or Terna do not send the STMG and then the STMD anymore : they directly send a single estimate of connection that in the photovoltaic is known as TICA “ Testo Integrato delle Connessioni Attive ” ( amalgamated law of the technical and economic conditions for connection to electrical networks ).

TICA : Literally Amalgamated Law of the Active Connections. It is the first thing to do to ask for the connection to the electricity network, generally to Enel, or Terna in case of high tension plants . These are the societies that organize the power lines in the photovoltaic sector . TICA estimates the connection to the electricity network and its costs .
For the construction and exercise of the photovoltaic power plant, these activities depend on the release of the DIA ( Dichiarazione di Inizio Attività ) by the municipality at a territorial level or on the release of the single provincial authorization according to the article number 12 of the legislative decree no. 29, 2003 .

DIA : it is a necessary document for the rent of a farmland, industrial land or former pit for the construction of a photovoltaic power plant . DIA, it is the acronym of “ Dichiarazione di Inizio Attività ” and needs to be submitted to the municipality in which the lands are located . Thanks to the DIA the provincial council can release the single authorization and it is possible to start with the work . The DIA is discussed during the conference of regional authorities ( Conferenza dei Servizi ) and the several competent administrations that need to decide .

Generally speaking the single authorization ( AU ) is an obligatory choice for photovoltaic power plants that exceed a determined threshold of power . The licensing process through the single authorization ( AU ), is executed according to the principles that allow a easier procedure through the institution of regional authorities and the convocation by the provincial government, no later than 30 days . Every representatives of the competent territorial administration, who provides and issues the approval regarding the subject of the discussion, is invited to take part in the meeting of the regional authorities as well as the managers of public activities that want to report possible interferences created by photovoltaic plant that are still in progress .

Practically, in order to obtain building lands for the construction of photovoltaic power plants, in the case of the construction of big power plants, the licensing process requests and consists of authorizations : without them it is not possible to start with the work . Among these authorizations the one of the Ministry of Economic Development is essential in order to build the power line, there is the authorization for the archaeological bonds, the authorization from the Basin Authority, the authorization for the landscape bound, the authorization for the environment and the one for the municipal restriction : in short, the authorizations from all the institutions that need to decide for the construction of a photovoltaic power plant .


The kind of agreement or contract that is used to rent a farmland in order to build a photovoltaic power plant is defined as “ cession of the building lease ” or “ selling ” or “ cession of the discounted building lease ” .

Sometimes, for the draft of the preliminary option submitted to the landowners for the signing, the landowners make use of law firms that do not have a specific competence in the photovoltaic field . And sometimes, the lawyers that defend the landowners ( farmlands, former pit, industrial lands, it does not matter except for some specific events ) demand structural changes that most of the times cannot be done . This is because the agreements and the rules for drawing up a contract should be “ eligible ” meaning that they need to protect the investor against the risks connected to the licensing process . For example in a country like Italy, famous for its slowness at a bureaucratic level and the several authorities that need to approve the cession of a single authorization which gives the suitability for the building and construction of photovoltaic power plants through solar panels .
Due that these amounts are not small it is advisable to rely on experts in the photovoltaic field and ask for a second opinion : in this way it will be possible to proceed without problems or surprises and everything will be easier .


When an investor or an engineering or planning company pursue the authorization procedures ( farmland, industrial land or former pits ) and meet all the requirements in order to be considered suitable to install a photovoltaic power plant, the important thing to do is to draw up a contract or a draft of a preliminary rental option (or better “ cession of the building lease ”) or purchasing by the investor or engineering company with a proxy by the investor himself .

The main points of the building lease contract are :

- The annual rent : the amounts are normally paid to the landowner in a single sum for the cession of the building lease . If the lands are near an electric substation the price increases .
- The duration of the rent ( cession of the building lease ): 30 years
- The time of payment : usually the annual rent in advance is paid to the landowner .
- Restoring lands and places : after 30 years from the cession of the building lease, the investor who rents the land in order to build the photovoltaic power plant must dismantle the plant itself . In addition to those laws, which are valid on a national level and protect the landowners, some regions ( such as Lombardy ) require the investor to deposit a bank guaranty in security of the disposal of the plant with the amounts provided for the activities .


Are you the owner of a land or a roof and want to earn something from it ? Is there somebody who wants to invest in the photovoltaic field ? What is the building lease for the photovoltaic plant ?
The cession of the building lease is the perfect solution for the owners of lands or roofs who want to make them available for the installation of the photovoltaic plant and want to invest in them .
On one side there are those people who have suitable surfaces for the photovoltaic ( for example : the roof of a store or warehouse, a sunroof, a land ) who are not ready to take upon themselves the installation or the management of a photovoltaic plant that produces clean energy .
On the other side there are those people who invest, purchase the legal ownership of the area or the covering, install a photovoltaic power plant and produce clean energy in order to obtain a marginality after the selling of the energy .

The cession of the building lease for the photovoltaic is an interesting solution :

- The owner of the roof transfers the building leases of an unproductive area and rents it ( for farmlands it is a bit different because they can be used for agricultural purposes, for industrial lands it depends ).
- Those who buy the building leases and become the owner in order to build a photovoltaic power plant, can benefit from it without being the owner of the land or the roof in which it is realized .
- Basically the advantages of surface rights are : whoever becomes the owner of the area, has the availability of the surface on which the photovoltaic plant should be built, without being the owner, being the owner of the photovoltaic plant without being the owner of the roof or the ground on which it is installed . As a quid pro quo the owner of the plant pays to the transferor ( owner of the roof, land ), an annual rent in cash or in the case of roofs also part of the energy produced .


Through the building lease it is possible to distinguish and divide the document of title of the roof or of the land from the document of title of the building, in particular the photovoltaic power plant .
The building lease gives the right to build the photovoltaic power plant or, generally speaking, a construction on a surface ( roof or land ) without being the owner of the roof or of the land, that is the surface itself .
Paradoxically with the purchase of the building lease it is possible to realize elevations of small buildings, that is having the permission to build and then sell apartments that, for example are in a roof spaces .
Who is selling and buying the energy produced ? The energy produced by a photovoltaic power plant can be sold in situ or to a single person ( which is the most convenient solution in order to avoid energy dissipation ) or sold to the national electricity network .


The hunt for farmlands, industrial lands, former pits is open everywhere nationally . The lands that are already authorized, meaning those lands where it is possible to build the photovoltaic plants immediately, are building lands . The building lands are those lands that concluded the licensing process of the single authorization and that received all the necessary authorizations, the network connection and the diverse authorizations to start building photovoltaic power plants .
Other people, the so – called “ developer ” work in the Greenfield sector : they do the hard work of finding websites, doing checks and planning . They are assisted by companies that have a significant engineering track record .

However the photovoltaic business in Grid Parity ( that is government incentives ) is lucrative and the investors have greater conviction and capital . This is because the market trend of energy will bring to an adequate marginality in order to justify an investment in the Green Economy .


The photovoltaic business started in 2006, after the gualification according to the DECREE no. 37, the 22nd January 2008 Former law 46 / 1990 letters a) and b) that controlled the installation, transformation, development, maintenance of plants and electrical and electronic systems .

The production of energy through renewable sources is absolutely a development compared to carbon or the energy sources at high environmental impact . Sometimes on the other hand there is a blot on the landscape after a heavy installation of photovoltaic panels and installations in some agricultural areas .
Without doubt when we install on roofs, warehouses, shelters, sunroofs or domestic production of energy for private costumers and companies, we avoid spoiling the landscape, great production of electric energy that is concentrated on one single point : in this way the energy produced will be transformed and transported with considerable dissipation and losses and risks that derive from the transport of energy and the creation of electromagnetic fields .

However roofs, shelters, warehouses and self production are not enough to move the total national production toward renewable sources ; the big plants can produce big amounts of energy that are comparable to the small nuclear power plants, without the problem of producing radioactive waste .


Crocus Sativus

Sativus Saffron Bulbs

Sativus Crocus Saffron bulbs

Sativus Saffron highest quality order now

Saffron Bulbs

Wholesale Organic Crocus Sativus

IBS has direct relationship with an Agricultural Holding that produces bulbs of Crocus Sativus Saffron ( organic product as well ) and it is able to support a buyer in the finalisation of the DAP purchase and delivery of bulbs ( free at destination ) at the Client Company stock in the whole European customs territory and in the countries outside EU .

Prices are competitive and the best quality of bulbs is ensured . They are delivered through specialised logistics service .


For getting a quote, please make contact with our Commercial Area, filling out the CONTACT FORM that follows or contact a manager at the following telephone number : +39 348 2920146 .

In order to make this commercial process more efficient, please write in the request :

- Number of bulbs
- Size of bulbs
- In which month would you like the planting of bulbs

Thank you for the cooperation.

contact IBS by mail

Saffron Crocus Sativus


In 1900 our Grandfather began to cultivate bulbs . At that time he started out small while he bred cows . He handled tulips, daffodils, crocuses, gladioli and irises . From one generation to another this business of bulbs became more important and therefore it was expanded . After spending some time growing flowers and plants, our father continued to cultivate bulbs .



He focused on growing different varieties of uncommon bulb species, such as Kaiser ‘s crown , Colchicum, Allium and Ixia . About thirty years ago, a flower bulb species known as Crocus Sativus was bought . Learning information about this variety made us understand that we just found our tresor . It lighted up our interest and vision to expand our growing capacity . Our biggest seller is now Crocus Sativus Saffron .



By the years, our company has considerably developed and today we are great suppliers of Crocus sativus bulbs in the Netherlands . We cooperate with numerous renowned flower bulb growers . We sell and export our non – organic and organic saffron bulbs to customers around the world . We are able to provide our customers with information and assist them in creating their saffron cultivation because we have more than 30 years of experience in the cultivation and production of these products .


Our Company sells various sorts of Bulbs, both certified organic and non – organic, of various sizes . Here are some photos :

non organic corms bulbs saffron

organic corms bulbs saffron

Wholesale of Crocus Sativus Bulbs


Crocus Sativus Saffron Flowers


Saffron (/ˈsæfrən/ or /ˈsæfrɒn /) is known as the spice that comes from Crocus sativus Linnaeus . This species of crocus are part of the family of Iridaceae and it is also called the saffron crocus, saffron bulbs or saffron corms as well .


Crocus sativus L. is a plant that is mainly herbaceous . This plant sprouts from a globular bulb that creates other bulbs that will become crocuses and they will produce more bulbs . Crocus sativus has thin green leaves, vivid red stigmas that extend in the petals, yellow stamens and three precious, they are very long ( 25 – 30 mm ) and perfumed lavender blooms with purple veins . These three types of stigmas are in the blossoms of this crocus and they are the actual saffron .

They are dried and used for drugs, pigmentation aims and food flavouring . As to the dye for food and flavouring, stigmas are well known in the world as saffron spice , i.e. the most costly spice in the world . The quality and quantity of labor in this spice ’s harvesting has a very high market value .



Saffron Flowers Crocus Sativus


Saffron spice offers a unique bittersweet flavour, for example like hay and honey . Everyone should taste it in order to realize exactly how does it taste . Saffron tastes as bittersweet as it smells . Some say, “ it does taste like the sea .” Some say, “ it ’s mush – roomy, and smoky ”. And some say, “ it ’s metallic, with whiff of seashells and honey tones .”


On our internet site we describe more about this singular and particular spice that has been cultivated for more than 4000 years and has different scopes . You can discover more details on the history of saffron and its various scopes in the present and past . We can inform you more about the saffron cultivation and how you can create your own nursery as well .




Parts of Saffron Flower Crocus Sativus

Thanks to its folkloric fame as a medicinal herb that heals a lot of illnesses, the modern medicine tries to explain the mystery of saffron, studying its properties and taking advantage from various potentials, that are given to the medical field . Therefore, more than a hundred chemical components are isolated and are accessible for medical commercial applications as well . The most important parts of saffron are : picrocrocin, which provides the bittersweet, rusty flavour ; crocin, which offers the yellow pigmentation from the stigmas and safranal, which gives the earthy aroma to the saffron .

Crocin Chemical Formula

Picrocrocin Chemical Formula

Safranal Chemical Formula

The chemicals elements in saffron can be ranked according to their volatility, or its absence . The main non – volatile elements include α – crocin, crocin, carotenoids that has zeaxanthin, lycopene and both alpha – and beta – carotenes, picrocrocin, and crocetin . The main volatile parts have terpene, terpene esters, and terpene alcohol . Furthermore, safranal is a volatile composite made by picrocrocin thanks to the contact with enzymes and heat in the drying process .

Picrocrocin and crocin are really sensitive to air and light . This explains why saffron should be kept in airtight containers and laid away in a dark and cool place when they are not used . The subjection to sunlight and atmospheric oxygen could create oxidation that will hardly decrease the properties of picrocin and crocin, damaging the saffron quality . Saffron ’s anti – oxidant properties are also studied for the use on drugs against depression, cancer and other neuron – degenerative disorders .

Saffron ‘s anti – inflammatory properties are also given by the elements of the crocus petals : anthocyanins flavonoids and tannins . In fact, flavonoids have, hesperidin, rutin, luteolin, bioflavonoids and quercetin . For people who love saffron, the basic chemical transformations happen when they use it ; this can sound weird to them, but it ’s fundamental that they know that saffron offers them giddy feeling, light that seems to make promises that everything will be fine .


Grow saffron crocus sativus

Saffron is collected from the blossoms of Crocus sativus ( Iridaceae ), called saffron bulbs or saffron crocus . It is spread by corms, a type of bulbs . Each corm creates new bulbs, and in this way plants increase . Saffron flowers appear in autumn and red stigmas are harvested with the name of saffron threads, from which the spice comes from . Every blossom provides three stigmas that are carefully picked by hand . Flowers have to be harvested before noon time since they wither simply . This process is meticulous and monotonous . For this reason saffron is so precious and in fact it is known as red gold .

Saffron crocus can be found in countries like, India, Iran, Morocco, New Zealand, Italy, Pennsylvania, Spain, Afghanistan, France, Portugal, some parts of China, Turkey and Greece . Since this plant has spread in disparate areas of the world, saffron planting and cultivation techniques might be different , depending on the type of soil, spacing of corms, depth of planting and climate .

Saffron Flowers in Field Crocus Sativus


The Crocus sativus matures in disparate soil types but it is better if it grows in humus – rich, well – drained and calcareous soil with a pH between 6 and 8 . Saffron corms can develop in dry or semi – dry soil types, by the way, you have to bear in mind, that during drought periods in autumn and spring, you need to irrigate the land . If you make saffron corms grow in semi – wet or wet soil types you have to be sure that your land is well – drained in order to block corms from infections or rotting during times of wet weather .


For the cultivation of saffron, we require a climatological summer and winter with temperatures between from –15 Celsius degrees or – 20 Celsius degrees in winter, to about no more than 35 Celsius degrees or 40 Celsius degrees in summer . This is the reason why saffron is also cultivated in continental, dry and moderate climate types but not in polar or tropical climate types . Due to the fact that Crocus sativus is a bulbous heat – tolerant plant, hot and dry summers won’t be an obstacle . By the way, during winter periods and temperatures, it’s possible that leaves could dry – freeze, i.e. corms will grow less and for this it will give less saffron .

When strong frost threatens your saffron field, we have to to cover the plants with straw or fibre cloth for protection and you can take off the covers when frost disappears . In dry climatological periods in spring time, irrigation is crucial . In this time, regular rainfall is optimal for the corms growing, and this means higher yields of flowers and daughter corms .


When you plant saffron corms for the first time, you should opt for a unused patch of land, where no other saffron corms or tubers grew up there, if it is feasible ( whether not, none in the last ten years at least ). Before planting, it is good to plow the soil 20 to 50 centimetres deep maintaining the planting beds well – aired and loose, including organic fertilizer in the process . Especially the type of soil in Spain requires this kind of preparation .

For the saffron cultivation, planting corms on raised beds is optimal to safeguard drainage and irrigation . Irrigation must be be very low when the corms begin to grow leaves . In July, planting starts, August and September by hand or by machine, and the harvesting comes at the end of October to mid – November, about eight weeks after the plantation . Saffron crocuses are sun – worshipping plants, therefore they must be planted in dry open fields and not in shade .

Usually, corms are seeded between 7 – 15 centimetres deep in the soil . The deeper they are planted, the less the corms can increase, but there will be a higher quality of the blossoms made .

Saffron bulbs before cleaning Crocus Sativus


Let’s discover the “row system” in planting corms. Every row is generally 15 to 20 centimetres away from the other. Dig holes in the first row and every row must be filled with a corm. When you dig in the second row, use the soil that you have dug up to cover the corms seeded in the first row, etc. Maintain the rows raised for ventilation and drainage. Produce a block of rows and make space enough to have a passage between each block. It will be easier to walk along the crocus field when you work on water, weed, and later, harvest.

Saffron Plant Crocus Sativus




The space between corms depends on their sizes . As regards to the saffron cultivation in Italy, farmers plant corms with a space of at 2 – 3 centimetres between them and 10 to 15 centimetres deep, a method that offers them a maximum harvest of blossoms and a lot of corm – lets . Farmers in Greece make a 25 centimetre of space between every row and a 12 centimetre distance between corms, each of which is 15 centimetres deep in the ground . In Spain, rows are spaced 3 centimetres and the corms, 6 centimetres. In India, there is a space of 15 to 20 centimetres between each row, and between every corm, 7.5 to 10 centimetres .

Spacing depends on how frequently grubbing is planned as well . Grubbing means the complete removal of saffron corms from the land to divide the formed mother corms and the corm – lets and to save them for the following planting season . Biennial grubbing needs a spacing around 5 – 10 centimetres between each corm ; for a longer time, it’s better between 10 to 20 centimetres .


Safeguarding techniques must be taken against rabbits, rodents and birds . Corm rot, nematodes, leaf rusts and other pathogens have to be prevented from damaging the saffron crocus plants too .


The saffron crocus ’ corms are fine for four years crop, and the fifth year, they require to be dug . In Italy and Spain, the grubbing is made between June and July, and in Greece, it is made inside May and June . When the saffron leaves turn wilted and brown, the corms are asleep and are set for the grubbing .

The fields are increased using a plough machine or a hoe and the corms are collected by hand . Afterwards corms are cleaned from undesired bulbs and weeds, and new planting materials are ranged according to proportions . The corms has not to remain out in the sun longer than 1 or 2 hours . Then these classified corms are stored in a dry , dark but well – ventilated place until the following planting period .


Taking away weed needs the boring, manual method, mainly if you deal with root weeds . Machine – weeding can be used in the saffron cultivation, but the risk of harming the bulbs occurs . Plus, most farmers want to do it in the classic way . The longer the weeds remain in the saffron beds, the more difficult they will be to take away, so it is better to work on them as soon as possible . Once the saffron leaves have withered but it is not the period for grubbing yet, take away the brown leaves to notice the weeds easily .


In the middle of October, saffron flowers start to blossom, and this blooming furthers for three weeks . There will be a period of increased blossoming known as “ blanket days ” that lasts from 2 to 6 days . Blooms that come out in the night have to be harvested at dawn the very following day before midday to avoid petals from wilting . It is better to harvest “ sleeping ” blooms , to protect high – quality saffron from threads .

Saffron Flower harvesting by hand Crocus Sativus

Saffron Flower harvesting by machine Crocus Sativus


Once the blooms are harvested, they will go to the “ stripping ” area where the stigmas or threads are very precisely removed by hand . The yellow and white parts of the stigma must not be involved in the cutting, only the red parts .

Separation of stigmas from a closed flower Crocus Sativus

Separation of stigmas from an open flower Crocus Sativus


After the stripping comes the drying, called toasting as well, and it is made daily when the last threads are dried . Due to their high humidity, the harvested stigmas are dehydrated when they are toasted at temperature not higher than 60 C° . We must lcheck that threads are not overdone . Hence, the “ toaster ” ( the person who has this task ) has a very precise role in the making of high quality saffron . After toasting, threads will extremely decrease their weight and size, down to 80 % of the original one . 5 kg of fresh stigmas provides a mere kilo of vivid, dried crimson threads .

Furthermore, stigmas may be dried in an oven or over hot coals as well . You have to spread the fresh threads on a wire mesh with baking paper and then place the in the centre of the oven . The heat has to be at 50 Celsius degrees, watching the threads attentively for about 10 to 20 minutes until they are ready to fall away from each other . As to bulk drying, saffron threads are put in a special place at 30 Celsius degrees to 35 Celsius degrees for 10 – 12 hours . A more modern procedure is the utilization of a dehydrator, with temperature at 48 Celsius degrees for 3 hours . The length of time, seems to depends on the amount of threads to dry . But most fundamental thing is that they don’t over – dry because it could decrease the price and quality of the saffron threads .

Drying of Stigmas Crocus Sativus


Once the threads are dried, they transform into dark vivid red, with the dark orange tips . They are made cool and swathed in foil or tissue and they are put in airtight jars, covered and maintained in a dark, cool corner for at least thirty days before they are ready to be used . They can remain in that nook for a long time and still be used for the flavouring of dishes .



Saffron corms have levels of transitory, dormancy and activity . The transitory period starts when the corms turn into mother corms and create new bulbs or corm lets . The activity period starts when they are planted and they grow roots, flowers, shoots and leaves . The dormancy period is when the corms reach the mature level and are no longer creating new bulbs . In the dormant period there are dried up roots and wilted leaves . The corms require to be dug up and they need to rest for some time before they could be replanted to be productive again .

As to the planting area, it is very recommended to let a saffron field “ rest ” for about 10 to 12 years after a maximized cropping cycle in order to be refreshed or recovered . It is better to move out to a field never used or a refreshed field to begin a new cycle . This will ensure you with a solid plantation that will offer great yields .

Annual cycle of Crocus Sativus Saffron




Corms are sorted and classified according to their dimensions . The size of a corm establishes its quantity . Years of experience have led to the fact that the larger the mother corms is, the more it produces, the higher the quantity of stigmas and flowers in the first year of planting .




Fresh Stigmas Saffron Crocus Sativus

With this concentrated work and small amount of products from this drudgery the saffron production can be subjected to fraud . In the past, saffron scams produced the creation of the Safranschou Code, which punishes the double – dealers with incarceration, execution and penalties . However, the trade turned lax and there have been ever more fraud . Coupé saffron stigmas can be combined with low quality threads, or with other plants ’ filaments . Moreover, Saffron powder can be combined with turmeric and other similar spices . These strategies are not legal and this compromises the saffron production and consumers .

Today security measures are provided by the ISO, known as International Standards Organization too, that offers a homogeneous grading system for the saffron powder and saffron filaments . The ISO / TS 3632 was released in 1980, and it was created for the industry of saffron . It modified on a regular basis, with the latest version in 2011 . These standards show the orginality and quality of the saffron products sorted by categories, checking their packaging and labelling too . The market cost of saffron derivates depends on the outcome of this inspection .

Saffron sample grading depends on laboratory standards such as aroma, colour and flavour . This implies tests for the major components picrocrocin , crocinand, safranal with a photo – spectroscopy . They have to surpass a certain level in order to be either at the lowest or poorest category as well . Especially for crocin, it is the primary thought because the other components are related to its presence . Authentic saffron powders and threads are ranged from I to IV, with I as the finest and IV the poorest . The following is the grading scale for crocin absorbance :

Grade I : > 190

Grade II : > 150

Grade III : > 110

Grade IV : < 110 Saffron Stigmas Crocus Sativus

In Spain, saffron is sorted in a different way, not with ISO 3632, but the type of scale is pretty much same . However, category labels are different :

Sierra : < 110 Standard : 110 –150 Rio: 150 - 180 Mancha : 180 – 190 and Coupe : > 190

Saffron from Iran is boasted to be the best quality due to the favourable climate in which the crocus plants grow in and the modern technology used in the drying process . For the Iranian traders, there is only one type of saffron : Sargol . Although it is different, the scales are pretty much the same : the higher the figure, the higher the light absorbency , the higher the crocin content and the more intense the colourant . Practically, the higher quality .


The history of saffron crocus sativus


It is not easy to find where exactly the cultivation of saffron started, and it has the name of the world ‘s most costly spice . But we can find it as far as the existence of the Persian word zarparān ( ‘ having golden stigmas ‘) from which the Arabic word za’farān was probably originated instead of the Arabic adjective asfar ( which means ‘yellow’); it is almost the same to the Persian word za’ferân which comes from the Old French word ‘ safran ‘, from where the Latin word ‘ safranum ‘ derived .

Saffron in Lineair B finally, the English word ‘ saffron ‘ derives from the Latin ‘ safranum ‘ from which the Spanish word ‘ azafrán ‘ and the Italian word ‘ zafferano ‘ came from (b oth meaning saffron ). The other words for saffron in other languages are : ‘ kesar ‘ or ‘ zafran ‘ ( India ) , ‘ sáfrány ‘ ( Hungarian ), ‘ azafrai ‘ ( Basque ), ‘ khekhrum ‘ ( Armenian ) , ‘ szafran ‘ ( Polish ), ‘ shafran ‘ ( Russian ),’ azupiranu ‘ ( Akkadian ) ,’ safranu ‘ ( Romanian ), ‘ zaferen ‘ ( Turkish ), ‘ saframi ‘ ( Finnish ), ‘ safrà ‘ ( Catalonian ), ‘ safrána ‘ ( Latvian ), ‘ hong hua ‘ ( China ) , ‘ safárum ‘ ( Malaysian ),’ saffran ‘ ( German ), ‘ kurkum ‘ ( Farsi ) and ‘ azafrán ‘ ( Galician ). The similarity of these terms shows the global fame that the famous spice has in the history .


A lot of time had passed and now we have only not clear ideas in where saffron was initially found, as well as how it took its name . It is interesting to discover how far back in time saffron had been loved and which countries had specific uses for it .

The earliest evidence of the East Mediterranean people were already deal with saffron crocus in 2300 B. C. are the words of a great king, Sargon of Akkad, a great governor of the Akkadian empire from the city of Azupiranu, in the in Ancient History texts as Saffron City . This charming city was known because it had to largely grow saffron crocus , or the cultivation of the spice plant must had to be located in that place during this period .

The well – known fresco, Saffron Gatherer Frescoes was discovered in Knossos and it is from 1600 BC , Greece and another one from 1500 BC in Santorini, Greece, both describing the whole process of saffron harvest and finally made an offering in a ritual worship, and monkeys and young girls plucked saffron filaments . In Thebes, Egypt, a medical papyrus of 1600 BC as well was found in a tomb and it showed the medicinal function of saffron . These documents and frescoes are real evidence of the saffron culture in the past too . In fact, today analyses of such frescoes showed the fact that they strongly emphasize the medicinal skill of crocus more than everything .

Saffron was a luxury, reserved for the nobility in the past . Queens, kings, monks and pharaohs bathed in saffron water for healing wounds and as prelude to romance, they brought saffron perfumes, donned saffron – dyed robes, had drinks laced with saffron spice and ate food with saffron, prayed to their gods with saffron offerings and slept comfortably in beds speckled with saffron threads . World literature tells how the old people used to treasure saffron . Saffron crocus is the krakom in the Bible in Solomon ‘s Song of Songs . There is krokus in the work of several Greek philosopher such as Sophocles, Homer and Hippocrates . Virgil, Ovid and other Roman artists also gave saffron a leading role in their work .

In his poems, Iran ‘s famous poet Ferdowi tells about the use of saffron in victorious honouring . Kashmiri poet and Mohammed Yusuf Teng highlighted that cultivation of saffron had mentioned for a long time in Kashmiri Tantric Hindu epics in the ancient times . The saffron was important and the trade of saffron became in fact profitable because it brought an high amount of gold . The old saffron traders were called saffron grocers . Arabs, Romans, Egyptians, Asians and Europeans were in this trade, and so we found out how saffron became widely famous in this period : thanks to the trade and the smuggling .

The painting known as “ The triumph of death ” by Pieter Bruegel the Elder, The triumph of death in the pandemic Black Death ( Bubonic Plague ) around the 1500 in Europe, saffron was very important in economy history . The need of the ingredient as a medicine led to its importation from abroad, and unfortunately to illegal shipments . This problem went down in history when a saffron shipment toward Basel was headed off by a baron, and a long battle, lasted 3 months, procedeed to recover the shipment . Today history tells the incident as the Saffron War which positively established Basel as a centre and take – off place for cultivation of crocus sativus in Europe .

History tells us that in the past, saffron was clearly the most sought spice for its incredible powers to cure a big range of ailments . A lot of nations have higlighted of the use of saffron in medicine, it has the skill to settle and cure common discomforts to serious disorders of teenagers, adult men, babies, toddlers and women as well as old people .

With an ever more active saffron trade, rules had to be created to protect equity in the market prices and freedom from adulteration in every batch of spice . The Safranschou code was instituted and fraud was punishable by imprisonment, death by fire, and fines .

In India, saffron is used mainly in ayurvedic medicine . In the Middle East, it was put in a botanical dictionary around 1300 found in the Assurbanipal Library as a medicinal entry . In London, Nicholas Culpeper ‘s Complete Herbal showed saffron ‘s medicinal properties in a quaint paragraph . In Germany, Crocologia, a book about saffron describes its medical skills and it was published in 1670 .


Saffron Crocus Sativus in the kitchen for Cooking

Due to its world – known exotic aroma and taste, saffron will always be a principal ingredient that can suit with every part of the pantry in different kitchens in the world . It is not in the place where you could forget it, but it is there to go on with its shelf life . Saffron has essential chemical components like picrocin ( which gives the spicy flavor ) crocin ( which gives the eggyolk – yellow color ), and safranal ( which gives the hay – like aroma ). These components make saffron an exotic spice that goes well with other food and spices and makes any dish very tasty .

Saffron comes from the crocus blossoms, and offers a pleasant sweet strong smell and aroma and just a little of it is enough to make a dish unique . In fact saffron has a great value, because it is one of the most costly spices all over the world . It takes around 600 stigmas ( threads ) or 200 saffron blossoms to make only a gram of spice and around 450.000 stigmas or 150.000 blossoms to make a kilogram . Harvesting saffron threads has to be a careful work, because they are safely picked by hand . Now you can imagine why Saffron costs so much . But finally, a little of coupé saffron powder or three saffron threads are enough, and with cautious use, it ’s worth to spend money for it .

You can put saffron in a glass of water to extract flavour and the natural yellow colourant from it, just putting a spoon of threads in a hot but not boiling liquid such as water,milk, oil, alcohol or broth ; then let it stand for a couple hours up for 24 hours, if you want to maximize its skills . This is the perfect process to obtain the best essence of saffron . But for a quick fix , you could soak one spoon of threads in five spoons of liquid for around 20 minutes . Afterwards you can mush the threads to create a paste, or you can produce your own powdered condiment, by only throwing threads in a heavy frying pan over low fire . Toast it slowly, be careful not to burn them and then blend the threads to powder . One spoon of threads ( about 8 threads ) should produce ½ spoon of powder .

In areas where crocuses are planted for commercial production or local consumption, saffron dishes have gained international fame and they are served on specific tables . Saffron suits with cinnamon, cardamom and vanilla, fish, pasta, pastry, cheeses, tomato soups, lamb, and chicken . Saffron rice is an usual dish used by a lot of countries . Saffron is used not only to harmonize the flavour of main course dishes but also to spice up desserts and beverages . It is a type of flexible ingredient .

In the centre of Asia, crocus plants were grown in small gardens for domestic use . But it is in Kashmir, India that the best saffron is grown on big quantities for commercial distribution . Indian cuisine features saffron : it blends like garam masala ; in rice – meat dishes like the biryani and its similar and pulao, a “ jeweled rice dish ” made for weddings and banquets ; in desserts like kesari bhath, which is made during festivals ; in sweets like kufil, gulab jamun and double ka meetha ; and in an Indian drink named saffron lassi, which is made for religious ceremonies . Saffron can also be mixed with pistachio and cardamom to give taste to ice cream . Furthermore, China tells about of early use of saffron in religious rituals, food and medicine . In China, saffron is called “ the red flower of Tibet ”, because the crocus flowers have been brought to Shanghai via Tibet .


In Morocco, saffron is used in different types of the tajine dishes . In the Middle East and in the Afghanistan cuisine, saffron has got many functions as well . It is a usual component in many rice dishes, like the qabali and sholleh zard and the adas polow, a type of rice pudding . Iraq offers own version of saffron rice known as timman z’affaran . Furthermore, saffron is used give aroma to chelow kabab, the Iran national dish . Arabians use cardamom and saffron but the others think that cinnamon is a special aroma for tea and coffee .

In Europe, saffron is put in vegetable soups and fish and also in desserts like cakes and ice cream . In Germany, saffron is a main ingredient in the Gugelhupf cake . In France, it is put in the new French Bouillabaisse . In Sweden, they use it for the well – known lussekatt ( also lussekatter ) or lussebulle, a saffron bun prepared most of all for St. Lucy ’s Day . In England and Cornwall, saffron buns are common in religious festivities too . In Italy, it is put in risotto alla milanese and in drinks like the strega, chartreuse and izarra . In Spain, the best quality of saffron may be found aside from Kashmir too and saffron are threads to give colour to a rice dish known as paella, or in a fish dish known as zarzuela de pescado and in another dish named fabada .

In the United States, the cultivation of saffron was spread to Pennsylvania thanks to the Dutch . There it was traded and used to give taste and colour fish dishes, noodles and sweets .

Research evidences that saffron has the electrolytes potassium and sodium, and is rich in other minerals like selenium, zinc, magnesium, copper, calcium, manganese and iron . It is also rich in vitamins A, B and C. Hence, saffron seems to work beyond the palate because it offers nutritive benefits to the health too .



Healing power Saffron Crocus Sativus 2

The skills of saffron as a natural healer throw us back in the ancient times, with evidences given by age – old frescoes and documents which show the old people ‘s use of ” saffron filaments ” to reduce illnesses. In fact at the beginning saffron became known in the area of traditional medicine before it became a household spice for dye and condiment .

Every region that knows how to produce crocuses has its own method to cure illnesses using saffron . Saffron is mentioned in very old Chinese herbal medicine documents . In Mesopotamia, there was a ritual where different kind of dancing and chanting were made to evoke saffron ‘s healing powers . Battle – weary Persian and Greek warriors soaked themselves in saffron baths for cure and comfort, a ritual that was made famous by Alexander the Great . Aulus Cornelius Celsus, a Roman medical encyclopedist, described saffron as a cure to poison in his works of De Medicina . The ancient Indian ayurvedic medicine needed saffron as a very important ingredient for many medicinal remedies as well .

By the years saffron has turned into a universally known medicinal herb that heals any discomfort or disorder, with its effectiveness proved by new clinical studies or sheer millennial experience . Let us see, how does saffron heal thee ? These are the following ways :


Saffron helps to create a better mood and therefore cures melancholia . It helps to make the body and the senses more active as well . Saffron with other oils and steeped for short time periods turns strong enough to react as sedative or as a relaxant . You can eat it in small quantities because it helps to enforce the respiratory system, cardio – vascular system,immune system, reproductive system and the nervous system .

Some research describe that a person must be really aware with the quantity of saffron used in medication, because if you overtake this spice it can be very dangerous . Usually, only 1 – 3 grams of saffron threads are in extracted essences and only 30 mg of powder for oral ingestion in a day . However, recent research on traditional medicine explain that saffron is non – toxic and that reaction to treatment could be created by other reasons . One reason could be that it is not the actual crocus sativus .


Saffron has anti – inflammatory properties, and it helps to calm asthmatic attacks by clearing swollen airways and restoring normal breathing . The same is for colds, flu, bronchitis and coughs ; a glass of warm milk with a bit of saffron makes you feel better and breathe when saffron helps loosen the bothersome phlegm .


Saffron contains cardio – tonic components that make heart medicines simply to go into the body and go to the heart . The antioxidants in saffron avoids circulatory problems by keeping cholesterol and triglyceride at low levels . Saffron ‘s crocetin unclogs the arteries as well, sending oxygen into the circulatory system, keeping the heart in tip – top condition and improving blood circulation .


The crocus sativus is rich in vitamins B ( especially B1, B2 and B6 ) and C . They are fundamental for the good functioning of the healthy immune system . It has essential oils and phytochemicals as well ; they enforce the immune system and give the body anti – carcinogenic components . Saffron crocetin is like an anti – cancer / anti – tumour agent that inhibits growth of cancer cells and powers up the anti – oxidative system .


Saffron is known for ages to regulate menstrual cycle of women . Drinking tea or milk with a bit of saffron helps to calm the pain and headache related to the monthly period . It can be used to prevent mood swings that usually are before the period . As to pregnant women, a small amount helps in rhythmic contraction of the uterus, in this way reduce pain and difficulty in the delivery of the baby ; but a large amount can be very dangerous because it could cause cramps and seizure in the uterus and bring unwanted abortion . Saffron with olive oil could heal uterus ulcers .


Carotenoids in saffron help delay macular degeneration as a consequence of ageing by enforcing cell membranes . Saffron defends the eyes from radiation, day blindness, retinitis pigmentosa, retinal stress,
conjuctivitis, keratitis and lacrimation .


Japan and Iran are strongly researching the skill of saffron to fight depression . Clinical research gave evidence that essences from crocus petals could be used as treatment against epilepsy and depression, like fluoxetine or Prozac given in 30 mg twice daily to who needs . Moreover, recent studies prove that 30 mg of saffron given twice daily is give benefits like donepezil or Aricept in fighting mild Alzheimer ‘s disease . Saffron has crocin that is actually a neuronal antioxidant strong enough against neurodegenerative ilnesses . As an anti – anxiety medication, research proved that crocin and safranal work as well due to their sleep – inducing and anxiolytic powers . Furthermore, there is shown that crocin gives positive effects with the serotonin – neurotransmitter system, and this seems to be an efficacious treatment for obsessive – compulsive disorder too . Saffron also helps to keep a person ‘s cerebral skills in terms of retention of information and absorption .


Crocus sativus offers many other medicinal uses . Derivatives are helpful in curing or preventing gastrointestinal problems like spleen, clogged liver and flatulence . Saffron works as topical application for headache, anal pain, mouth sores, toothache, insect bites, stomach pains, muscle cramps, and treats open wounds and bruises . Saffron paste work for the hair growth and treat baldness or alopecia .

Saffron may be used as appetite suppressant or stimulant as well . It helps to lose weight because saffron has perspiration – inducing and diuretic skills . A clinical research on the effect of saffron on weight loss says to be very effective . People had to take capsules containing saffron extract at pre – programmed schedules within two months and there were positive results .

By the way, saffron has a very interesting erotic past . Cleopatra soaked herself in saffron baths before romantic meetings . Saffron oil has an exotic flavour that seems to be seductive . Any drink mixed with an amount of saffron turns in an aphrodisiac . Male problems with virility can solved by medications infused with saffron too .

With these numerous uses of saffron, it ’s not a coincidence that production of this particular plant is very spread in Italy, Iran, India, Spain and Afghanistan indeed .



Saffron threads provide a yellow colour when is put in a liquid . Once there is the right colour and concentration, food or whatever is ready to be used . Saffron dye can give colour to fabrics in order to highlight social status and religious functions . The noble people had saffron – dyed articles of clothing . The Irish dyed their wool with saffron colourant . Carthaginian and Phoenician brides wore saffron – dyed veils . The Japanese painted their kimonos with saffron . Tibetan, Buddhist and Hindu monks had saffron – dyed robes .

Noble women and courtesans of the old periods used saffron as skin care and cosmetic . Facial masks with saffron could be applied by women to make their skin smooth, soft and free from pimples and acne . Sandalwood and saffron mixed with milk were used as mask and they made the face soft and very clean . Honey, sugar oil and coconut can be used to create facial masks too . Saffron powder also has exfoliant properties and makes the skin bright and clear . Saffron extract provides with anti – bacterial skills that seem to fight pimples, acne and other skin diseases such as leprosy and psoriasis .

Old stories tell that in specific periods, Egyptians wore wax clothing with flowers and saffron in it which, once mixed, perfumed their hair with the sweet and particular smell ; the Greek god Zeus slept in a bed made of saffron ; Romans perfumed their marital beds with saffron, apparently for erotic reasons and they bathed in tubs full of sprinkled water with saffron threads . In the Middle East, sandalwood and saffron were melted for the production of a relaxing smell that also cured headaches . Modern perfumers take advantage from saffron because it mixes well like middle notes with other substances and essences to become a floral perfumes . And in India, they have a hundred – year old tradition of putting saffron in a special tobacco called zaafrani zarda that perfumed the air with the smell .

However, saffron is good for an extraordinary gift on special occasions like weddings, Ramadan, Christmas and other religious events because it is costly and this means a high status present .


Things to know about Saffron Crocus Sativus


There could often be fraudolent traders who will play a bad trick on you . The best way not to be mocked is to purchase only from trustworthy dealers . Make a background control . Be inquisitive . Be informed . Be aware of the fundamental features of saffron :

Saffron is costly . Any cost too much lower than the international market price must warn you .

Look for famous brands . Even if they have saffron at low prices, you don’t have to be afraid .

Saffron threads have to be brittle and dry, not sticky and soft .

Saffron has a fresh, piquant scent ; if it’s musty, or smells like other chemical it means that components have been added to it, therefore stay away from purchasing it .

There must be no broken components at the bottom of container .

It is better buy threads rather than powder . It is not easy to spot fake saffron powder unless you are permitted to test the product before the purchase .

Saffron threads have very red color, with a slightly lighter coloured at the topè, more like red – orangey . If saffron is dull red means the batch is old .

Saffron threads have the same size, but not the same colour . Once all the threads have exactly the same redness, they could have been dyed to create the true colour in its inner .

You have to know the different cuts : The highest quality saffron thread, known as coupé saffron, sargol or premium red, has only the very red part of the stigmas, the yellow style is removed before being dried . A kind of cut that has the vivid red stigma and a little or more of the yellow style shows a lower – quality saffron . The style does not provide any aroma . It is considered like floral waste .

The packaging has to show the harvest date, and it has to be recent .


Crocus Sativus Saffron FAQ frequently asked questions

Question : What are the differences between the various bulb sizes ?

It is that the bigger bulbs will bloom better and will provide with more flowers in the first year after the plantation . Moreover larger bulbs develop better and increase faster than smaller bulbs .

In the first year bulbs of size 7 / 8 will bloom around 30 % ( 30 flowers per 100 bulbs ), bulbs of size 8 / 9 about 80 %, bulbs of size 9 / 10 will bloom 150 %, bulbs of size 10 / 11 will bloom 200 % and bulbs of size 11 / + will bloom 300 % .

The bloom percentage will increase in the following years because of their multiplication and growth .

Question : What is the difference between non – organic and organic bulbs ?

It is that organic corms are largely cultivated organically, without using any chemical plant protection products .

These corms will arrive with an European organic certificate .

The non – organic corms are cultivated in a sustainable way, with a minimum use of chemicals .

Question : Why are the saffron bulbs in your web shop cheaper than in many other shops ?

The crocus Sativus bulbs we sell are grown by ourselves, so you are buying bulbs directly from the grower without the intervention of wholesalers . Since we grow the crocus bulbs on a large scale we can offer them ( much ) cheaper than many other suppliers .

Question : Why can’t you deliver saffron bulbs before July 25 ?

Our saffron bulbs grow every year in late June / early July .

Once they are grew, we dry and wash them and they will have a proper temperature treatment . After this treatment, the bulbs will be sorted in different sizes and they will be ready for our sales .

This entire process requires to be done carefully to ensure our customers the best quality of crocus Sativus bulbs and saffron .

Question : What do ” sustainable ” grown bulbs stand for ?

It means that, during the cultivation of our saffron bulbs, we decrease the use of chemical crop protection to the minimum .

This proved that we stopped using chemical soil treatments, we don’t apply any pesticides containing the neonicotinoids and the herbicide ” Roundup ” is no longer used in our fields .

Furthermore we try to improve and keep the soil quality and soil organisms of our land by using high – quality compost and other soil improver .

Question : Why is it better not to use Round – up ?

Independent scientific studies prove that the herbicide Round – up, and the active ingredient of this product ” glyphosate “, can develop of cancer and probably hormone disrupting . Morevore this herbicide is extremely toxic for the soil in which the bulbs are grown because the soil biology is very disrupted by glyphosate .

Question : What are neonicotinoids ?

Neonicotinoids are types of substances connected to nicotine, which are used in an amount of systemic biocides and pesticides . The use of these elements is connected with several research in the world with increased bee mortality .

Question : When is the optimal time to plant your bulbs ?

The best time to plant our bulbs is around mid – August .

Saffron bulbs planted before the end of August will start to bloom in late October .

Question : What is the price of saffron per kg ?

It is not easy to offer you a price of saffron because it depends on the demand and supply, the place from which it comes from and its quality .

It is often proved that the price of 1 kg of saffron is around € 30,000 . Actually this price applies to the saffron which is provided in small quantities . For example, you can buy saffron in a bag of 50 mg at the supermarket for € 1.25. So 1 kg it makes a total of € 25,000 per kg .

It seems that the quality of the saffron that you can purchase at the supermarket is worse than the more expensive saffron found in drug stores .

Question : How many saffron bulbs can I plant per m 2 ?

The quantity of bulbs that you can plant per m 2 depends on the bulb size .

With bulbs of size 7 / 8 you can plant around 60 to 70 bulbs per m 2, bulbs of size 8 / 9, 50 to 60 bulbs per m 2 and with bulbs of size 9 / 10, 40 to 50 bulbs per m 2.

Question : What does the size of your bulbs mean ?

The size of our bulbs is measured in centimetre of the circumference of the bulbs . For example, bulbs of size 9 / 10 have a circumference between 9 and 10 centimetres .

The diameter of our bulbs can be simply calculated by dividing the circumference of the bulbs by Pi ( Pi ≈ 3,14 ).

So bulbs of size 9 / 10 have a diameter between 9 / 3,14 ≈ 2,86 and 10 / 3,14 ≈ 3,18 centimeters .

Question : Is it profitable to cultivate saffron ?

It is surely profitable to grow your own saffron because the saffron cultivation is a periennal crop . The bulbs you buy from us, increase themselves every year in the ground, and therefore you can harvest your own saffron up to 4 – 5 years in a row in which the harvest multiplies every year . After this period of time you can take the bulbs and replant them again on another piece of land .

In this way you only require to buy bulbs one time in order to harvest saffron for many years .



Crocus Sativus

Organic Saffron




Translated by Matteo Aristei

Country Risk Map – Discover SACE tool

SACE country risk map

Country Risk Map


country risk map SACE click


- Sovereign credit risk;
- Bank credit risk;
- Corporate credit risk;
- Expropriation and breach of contract;
- War and civil disturbance risk;
- Transfer and convertibility risk.


- General information on the foreign country;
- Information on the political, economic, financial and operational contexts;
- Insurability Conditions;
- OECD category;


e-commerce china

E-commerce China




Thanks to a specialized digital agency and an Italian company based in China, Made in Italy or quality products have an easier access to the Chinese market. E-commerce platforms and numerous social media can offer products to over 600 million people online every day, both through B2C and B2B channels, as well as a new generation ERP (Enterprise Resource Planning) system. The company is relieved of business risks, except for providing the product, which has to be available in China after customs clearance. Possible promotions and certificates called for to launch the products onto the market, upon assistance. The commission includes front end and back end services, as well as lead-to-cash, operation and shipment services. FTZ (Free Trade Zones) are possible for some products.

PRODUCTS SECTORS: food , clothing and fashion, furniture, furnishing accessories, cosmetics and luxury, etc. A feasibility study will be carried out, upon expression of interest.
For more information, send an email.

contact IBS by mail



Population: 1.379 billion
Urban population: 56%
GDP: $ USD 11.3 trillion
Average household income: $ USD 11,000 (72,321 yuan)
Average age: 37,3
Languages: Mandarin Chinese (70%)


In 2015, China’s spending on ecommerce accounted for over 40% of the world total.


In China, online shopping through mobile devices is widely spreading, with sales of $ USD 333 billion in 2015, 85% more than in 2014.


China has adopted the omnichannel strategy, however it is still incomplete and in evolution.


In 2016 the Chinese e-commerce market became the largest in the world.
It is expected to reach $ USD 1.6 trillion (almost the Italian annual GDP) within two or three years.

During last year “Singles’ Day”, the online shopping-related Chinese festival, $ 14.3 billion were spent and digital buyers in the country grew to 468 million.

Online wallets are the main payment method, in fact, 33% of clients use technologies to complete their transactions.



• I want to start a business in China, I need legal assistance.
• I need trade licenses to import goods.
• I need to hire a manager and employees.
• I need a warehouse to stock the products.
• I need to install an integrated management system (ERP).
• I need to get in touch with an accountant.
• I have ties concerning the cash flow.


• What products should I choose for the Chinese market?
• What prices draw clients’ attention?
• Should I choose the B2B solution, the B2C, or both?
• Is it better a multichannel or a one-channel strategy?
• Digital Marketing in China is complicated and very different from the western model. How to interact with Chinese consumers?


• What if I can’t sell the stock?
• What if the teamwork doesn’t make a profit?
• How can I be sure of receiving information regularly and promptly in my headquarter in China?
• In case of operations to do; how can I ensure they are carried out correctly?
• We need data concerning the market and consumers; is there someone able to understand them?



• Starting a business in China is not necessary, we can represent you.
• We will sign a clear and detailed contract, in which all our activities will be transparently explained.


• We will first update the B2B/B2C platforms with your logos and slogans to attract consumers.
• We will organize all the necessary digital marketing campaigns to guarantee constant trade and business transactions on your platform.


• We will assist you in every sale, ensuring the highest level of satisfaction for your Chinese clients.
• We will share with you every information to decide together the next step.


• Thanks to an analysis, we will find the most appropriate market for your products and we will inform you about the right quantity of goods to stock.
• You will only have to transfer the stock and we will do the rest.



Reaching the Chinese online advertising sector and the marketing sector concerning social media, allowing brand recognition and familiarization.
Gaining the Chinese online consumers and making their brand loyalty possible.
Establishing relationships with the Chinese social CRM, encouraging clients to be brand-loyal and promotion.


Entering the Chinese e-commerce market and providing strategic consulting.
Opening the autonomous e-commerce web site TaobaoTmall and others eShops (Jingdong, Amazon, QQ).
One-Stop Solution operations: 3PL services (Third Party Logistics), stocking and distribution.


• Search Engine Marketing (SEM) service and pay-per-click (PPC) campaigns for Baidu and others.
• Search Engine Optimization services (SEO) and reputation monitoring.
• Web advertising through banners and retargeting/remarketing operations.
• Affiliate Marketing in China – Organization, managing and optimization of the return on investment (ROI).
• UI and UX Design services, localization, optimization and web analytics.




- E-commerce
- Digital Platform
- B2B (business to business)
- B2C (business to consumer)
- Digital Agency
- FTZ (Free Trade Zone)
- SEM (Search Engine Marketing)
- SEO (Search Engine Optimization)
- PPC (pay-per-click)
- Lead to Cash
- Omnichannel



CANARIES: business opportunities, Financings and Tax breaks

CANARIES: business opportunities, Financings and Tax breaks


IBS by virtue of the valuable synegies and cooperations existing, is pleased to present the OPPORTUNITIES on the CANARIES ARCHIPELAGO, through:

- Financigs and Tax breaks for startups;

- Explanation of the strengths offered by the Archipelago to a prospective investor;

- Services offered in the Gran Canaria, Tenerife, Lanzarote, Fuerteventura, La Gomera, El Hierro and La Palma islands territories along with a series of general information in addition.

MEETING VENUE AND SCREENING OF BUSINESSES: after a preliminary phone or mail contact through the following form contact, in Turin a series of meetings with a person in charge that will analyze the Business project will be held, providing some information abut the viability.

TURIN OFFICE: Corso San Maurizio 8, Torino ( Office downstairs)

Before fixing a meeting in person, it is essential to advance a presentation, or a teaser or abstract of the outlines of the project for a first analysis. If the project is evaluated positively further information before the meeting in Turin will be required.


1. Announcement of a competitive exam for Financings and Tax breaks for startups in technology, innovation and science sectors on the Canaries Archipelago concerning entrepreneurial projects which represent the successful Made in Italy.

2. Deepening on Tenerife, opportunities on three continents (Europe, America, Africa) for internationalization programs, ZEC (Canary Islands Special Zone), tax breaks and customs facilities, general opportunities and information.

contact IBS by mail



OBJECT: Screening of the Entrepreneurial Projects through the announcement titled “The successful and excellent Made in Italy settle in in the Canaries” and first Strategic Guidance for the Italian Startups which wish to settle in the Canaries.


Institutions and offices in charge, local authorities and Government of the Canaries, sponsor the present announcement to allow and favour the settlement in the Canaries of new businesses, enterprises and business ventures, projects which intend to represent the winning and successful “Made in Italy” and which want to check how to operate in some strategic sectors specifics of the Canary Islands.


In 2015 the reform avered by the European Union provided constancy to the Economical and Tax Regime (ETR) of the Canary Islands which came into force on 1/1/2015. New and specific time horizons (2026) emerge for what concerns the strategic activities which can be settled and developed in the Canary Islands. Moreover, incentives and tax allowances can be applied and obtained, and also funds and financings for activities which have a strategic value and make the settlement particularly remarkable and strategic.


The purpose of the initiative is favoring the settlement and/or the presence in the Canary islands of valuable representatives of the most renowned “Italian Style” and “Made in Italy” successful entrepreneurial models.
The following services will be supplied without consideration and engagement only to the projects which match the characteristics required by the Competitive Exam:
- First advice on strategic guidance, which includes the logistic, building and fiscal aspects.
- Counsel and suggestions and/or possible amendments for the entrepreneurial project.
-information about possible opportunities for the settlement of startups, cooperations with Public Authorities, Institutions and Local Governments, Technology Parks, Universities, etc.
- At a later stage, the Projects which will be selected can be presented and helped by offices and residential Partners, to be introduced to the proper authorities, public offices and institutions nominated by the Canaries government and the Spain state.


- Have the possibility to provide to Italian investors and entrepreneurs a comprehensive overview, characterized by a first analysis of viability of the entrepreneurial Project in the Canary Islands, which consider the Tax Model (on the basis of the type of project, the objectives and the business model that the project aims to achieve), the logistic aspect, the buildings, the politic and diplomatic initiatives and other aspects which have a strategical importance.

- Start and establish a dialogue between the persons put in charge of supplying support services and interesting important entrepreneurs, providing the latter with information, guidelines and basic services without compensation.

- Conferment of the “Support” and specialized support to important Entrepreneurial Projects, with a high technological and professional profile to enhance the “Made in Italy”.

SECOND STAGE (for the projects evaluated as interesting) :

The selected entrepreneurs, after a first analysis, will have the possibility to benefit from our following services and advices supplied:

PRESENTATION OF THE PROJECT in the offices and Public Councils, or the Authorities and the function nominated by the Canaries Government with the aim to obtain the appreciations and the entitlement to require the benefits, the tax exemption and/or allowance and/or the support in the project or business start up.
In the case a ZEC authorization request is needed (for example to benefit from the implementation of a 4% tax rate) you can resort to the method “Online Procedure”. You will be required to go, upon appointment programming, to the Regional Offices in charge in TENERIFE or GRAN CANARIA, to have a short interview with an Official, to present and register the application or to collect the license obtained.
Alternatively to the procedure above mentioned, in other cases an “online” procedure will be started and concluded and the entrepreneur or the entrepreneurs will have the possibility to go to the island to attend to the following formal acts which need the presence on the spot ( formation of a company etc.).


- Drawing up of the Viability Study
- Drawing up of the Business Plan and/or Investment Plan
- Analysis and indication of the company model / asset of an emergent business, for the implementation and the optimization of the tax regime of Canary Islands (ETR, RIC etc. etc..) and/or other solutions which allow tax allowances and/or benefits
- Activities for the formation of a company, for example formal, bureaucratic acts etc., both Limited Company and public limited company of Spanish Law ( equivalent to an S.p.A. ) having the registered office in the Canary Islands
- Management and keeping of accounting
- Support and advice activity for the “start up” stages of the business
- Preparatory activities, such as the location of the place, the areas, the premises etc.


- Support for the papers and for the start of the meetings, the cooperations and the synergies with technology parks, Universities, local authorities etc.
- Support, advice and papers concerning the settlement, for the areas and the premises used as office, offices, workshops (both “on the free market” and in technology parks, Vivero de Empresanas, or coworking areas etc.), trade areas, craft areas, industrial areas, depending on the necessities and suited for the purpose.
- Support for the submission (if provided for where it is possible) of requests for the achievement of financings. This activity can be made only after having acquired the legal instrument, that is after having established and registered the business on the Business Register.



The characteristics and the essential requisites that the projects have to fulfill to be selected and taken into account are the following:

- The Entrepreneurial project must concern an activity and/or must operate in one of the following product sector or be related to the following categories :

o Informational sector, development of software and applications
o Electronics, development of hardware and firmware; production of electronic equipment
o Industrial automation, robotics, smart home technology (research and development, prototyping, industrial production)
o ICT and telematic networks, information and communication technologies
o Telecommunications
o Education, e-learning included, using digital platforms
o Intermediation and trading using digital platforms
o Marketing and advertising using digital platforms
o Digital publishing
o Photography and media and communication services
o Video production and post-production/ cinematography
o Drone manufacturing ( remote-controlled aircraft )
o Research for innovation and development applicable to different sectors
o Planning studies
o Nanotechnologies
o Biotechnologies and food and health sciences
o Other activities strictly related to science, technology, innovation, development and research.
o NOTES: for some manufacturing / production activities the rental and the leasing of manufactured products, solutions and equipment realized are included
o WARNING: refreshment activities and small businesses can’t use the tax breaks described and are therefore excluded.

- To be taken into consideration, the entrepreneurial project must be necessarily equipped with the documents required.

- The entrepreneurial projects must include a “solid organization” with its own operational and registered office placed in one of the Canary Islands.

- The lowest economic engagement budgeted from the Italian investor (without considering supports and financings) for the purchase of assets and/ or instrumental goods, on the basis of the realization of the project must be:

• Of at least EUR 100.000 for these activities which will settle in Gran Canaria or Tenerife within 24 months from the start of the business
• Of at least EUR 50.000 FOR THESE ACTIVITIES WHICH WILL SETTLE IN El Hierro, Fuerteventura, La Gomera, La Palma and Lanzarote, within 24 months from the start of the business.

- The entrepreneurial project or the start-up have to include the creation of minimum:

• 5 (five) jobs for the activities which will settle in Gran Canaria or Tenerife within the first 6 months form the start of the business.
• 3 (three) jobs for the activities which will settle in Lanzarote, Fuerteventura, La Gomera, El Hierro and La Palma within the first 6 months from the start of the business.

2. CANARIES ARCHIPELAGO: “TENERIFE” and the advantages that offers to an investor for the expansion of an internationalization project



- Tenerife offers a sound and steady political and macroeconomic framework by the addition of European guarantees.
- It is provided with modern buildings thanks to a technological constant development and effective advanced digital communication (examples: fiber optic ring, Teide-HPC supercomputer, data center D-Alix).
- It is favored by a naturalistic environment and a special life quality, with a mild climate all the year with an average temperature of 22 Celsius degrees, with the highest average of sun hours of Europe (3000).
- It has excellent air and sea links and convention centers equipped for excellence events, with highly competitive prices for the rental of industrial ships and offices.
- Highly competitive labor cost, supply cost and cost of services to enterprises (for example: electricity average cost, water and hot water average cost, etc.).
- Financing lines, supports and fundings, guarantees, incentives to the national, regional and insular
economic development
- Tenerife Science and Technology Park (PCTT): if the project would be technologic or of research in the health, biotechnologies, touristic innovation sectors.



Thanks to its geographical position, and being a member of the EU, Tenerife represents the gateway for three continents: Europe,America, Africa. For what concerns Africa, these are some countries with which we make trades:

Mauritania, Togo, Morocco, Nigeria, Equatorial Guinea, and Cape Verde. Moreover, there are existing agreements with many Western African Countries and 50 cooperation projects in different sectors among which: science, education, agriculture, farming renewable energies, bio-combustible production and modernization of the public administration.



Special tax regime unique in Europe thanks to its insular condition, which is suitable for any kind of business and entrepreneurial projects, even though the advantages of community right are maintained.
- IGIC (Canary Island General Indirect Tax) : 7% which is a regional tax on the final consumption equivalent to our VAT.


- For the enterprises registered in ZEC, the tax on the revenue of the societies at 4% on the part of taxable base which comes from the transactions made in the Canary Islands is applied.
- The enterprises registered in the ZEC domain don’t pay IGIC tax.
- Requirements: be a start up, have a well-drawn project, have a residential director, have at least EUR 100.000 of investments in fixed asset during the first two years and create at least 5 jobs in the 6 months after the registration of the company on the island register of companies.


- Agreements to avoid the double taxation
- Have the possibility to benefit from the directive Company Mothers-daughters (2003/123/CEE) of the European Union through which the dividends allocated from the branch registered on the ZEC domain to the operating holding company with office in any other EU country (European Union) won’t be withheld.
- Exemption from Property transfers tax and documented juridical acts tax
- RIC Reserve for investments in Canary Islands with an allowance up to 90% in the benefit not distributed through the endowment of a Special Reserve for investments in Canary Islands (RIC).


Customs advantages on the Tenerife Free-Trade Zone (ZFT): storage, transformation and marketing of the goods without paying duties , indirect taxes and special taxes. In particular:

- Exemption from importation rights during the stay of the goods in the Tenerife Free-Trade Zone;
- Exemption from the payment of special taxes for all the goods which will enter in Tenerife Free-Trade Zone;
- Exemption from IGIC tax ( assimilable to our VAT) for the goods of the Free-Trade zone and for the services provided concerning the goods themselves.


Even though there are different options and types of societies which can be established and registered the most renowned are the following:

- Sociedad Anonima SA ( equivalent to the English Public limited company Plc)

- Societad de Responsabilidad Limitada SL ( equivalent to the English Limited company Ltd.)

Minimum number of shareholders 1, the capital stock is different ( EUR 3000 for Societad de Responsabilidad Limitada while EUR 60.000 for Sociedad Anonima). First of all a negative certificate is required to specify the name of the company, with the opening of a bank account, and the creation of the articles of association and the incorporation notarial public contract, to which a tax identification number will follow (first temporary then definitive TIN) and registration in the island register of companies. The people with an entrepreneurial project interested in the Canary Islands or Tenerife will receive all the details.



- Group of the Free-Trade Zone in Tenerife in Spanish
- Canary Islands Special Zone ZEC in Italian
- Tenerife: comprehensive guide visiting, living, investing
- Why Tenerife? (there are references)
- Modification of the economic and tax regime of the Canary Islands in Spanish
- Proexca and investment opportunities in Spanish
- Procedure register free-trade zone The Canary Islands in Italian
- List of activities in the Free-Trade Zone ZEC Canary Islands in Spanish

Notes: for the enclosures not in automatic download please send an email and provide the data of the person or the business interested.


- IBS foreign DESKS
- Main Documents on International trade
- Letter of Credit and International bank Guarantees
- Customs glossary
- Country profiles and international or geopolitical articles
- IBS Blog







CONFINDUSTRIA BULGARIA – P.zza Pozitano 2, Sofia 1000, Bulgaria



IBS in synergy with CONFINDUSTRIA BLUGARIA has the pleasure of receiving signs of interest to participate to the next ENTREPRENEURIAL MISSION in Sofia. The event is promoted by Confindustria Bulgaria to communicate the strengths of Bulgaria for the benefit of the single businesses and/or delegations of Italian enterprises through the Industrial Associations interested in investments in Bulgaria and in meetings with local partners of different product sectors.


Please contact IBS through the following contact form and it will be our responsibility to recontact you to obtain your interest and to provide all the information of detail or to bring you into contact with the Manager of Confindustria Bulgaria instructed to organize the event.


- 1. OUTCOMES OF THE MISSION OF NOVEMBER 3 2016 IN SOFIA: description of the event, Entrepreneurial Mission Agenda and Delegation of the Italian Businesses participating at the event.

- 2. WHY INVESTING IN BULGARIA: the introduction to the macroeconomic framework, advantages among which low operating costs, tax benefits, strategic position in the heart of Balkans.

Continue the reading to obtain information about the opportunities. For immediate INFORMATION write us through the following FORM.

contact IBS by mail





The last entrepreneurial mission took place on November 3 2016, in the office of the International Center of Unicredit Bulbank. The promoters of the event and the Entrepreneurial Mission are Unicredit Bulbank and Confindustria Bulgaria which through the over 300 businesses associated is related to 5% of the total GDP of Bulgaria through the Businesses associated which create over 25.000 jobs, among which we can mention renowned Italian businesses such as Italcementi, Mapei, Unicredit, General, and many others SME.

During the last edition “Target Balkans: Entrepreneurial Mission in Bulgaria” has been recorded the participation of nine Italian businesses interested in the Bulgarian market , particularly active on the territory of Piacenza, motivated to the search for partners and business opportunity in the Bulgarian territory and in the neighboring countries with which Bulgaria makes trades. The event takes place as consecutively reported in the following concise description of the Agenda of the day, through a presentation of Bulgaria and the opportunities of business offered by the country, as a consequence of the event which took place in May 2016 in Piacenza during the incoming of a delegation of Bulgarian Businesses and Institutions in Italy.

The Italian businesses which participate in the entrepreneurial mission in Bulgaria operate in particular in the building industry ( building, reconstruction, restoration, sound conditioning, railings, security doors) in the furnishing industry ( interior and outdoor decoration, urban furniture, pools) and in the industry of facilities or technologies for energy saving. In particular, the day started with the address of the Institutions among which the General Director of the Unicredit Bulbank Enrico Minniti, subsequently the ICE Director of the Agency of Sofia Cinzia Bruno and President of Confindustria Bulgaria Pietro Luigi Ghia. Subsequently, the presentation continued with the address of Aldo Andreoni, Senior Banker, Corporate, Investment and Private Banking division, in which the macroeconomic framework of Bulgaria has been showed and in particular the building, the hotel and catering industry have been analyzed.

The rest of the event has been based on b2b meetings (about one hundred meetings) between the different Italian businesses in a trip to Sofia, and the over sixty Bulgarian businesses which participated with great motivation in the event.


h. 9.00 – 09.30 Businesses Registration and Welcome Coffee

h. 9.30 – 11.00

- Enrico Minniti, General Manager and Vice President of the board of directors of Unicredit Bulbank – Welcome speech

- Pietro Luigi Ghia, President of Confindustria Bulgaria- Welcome speech

- Cinzia Bruno, Director of Italian Trade Agency ITA Sofia

- Aldo Andreoni, Senior Banker, Corporate, Investment and Private Banking division – Presentation of the opportunities in Bulgaria


h. 11.00 – 12.30 B2B meetings with businesses associated to Confindustria Bulgaria already planned

h. 12.30 – 14.00 Launch and Networking

h. 14.00 – 14.30 Registration of Bulgarian associated businesses and welcome coffee

h. 14.30 – 15.00 Brief and presentation of the Italian Businesses by Roberto Tortelotti and Raffaele De Risi

h. 15.00 – 18.00 B2B meetings with the associated Bulgarian societies

DOWNLOAD : Entrepreneurial Mission Agenda

DOWNLOAD: Delegation of Italian Businesses participating at the event


Witnesses and references of businesses which participated in the event are available. However, to win access to these information a manifestation of interest for the future mission in the phase of organization and a qualification through the business references are needed.




Bulgaria recorded a growth occurred in the triennial 2006-2008, and subsequently had a crisis in 2009. However, the data which refer to 2010 and 2011 reflect signs of recovery of the Bulgarian economy. Moreover, since 2012 a fundamental stabilization of the tendential development and a marked vitality on the trades, in particular on the export (export over the border) with foreign countries have been observed. Besides, a recovery of the domestic demand and a noticeable improvement of the coefficient of absorption of the doing business and European funds have occurred. The GDP (gross domestic product) on 2014 stood at EUR 42,8 billion ( Source: UniCredit Bulbank, 2016), recording an annual growth of 1.5%.

In 2015 Italy was promoted from third to second in the classification of the business partners of Bulgaria, after Germany, and only in the first six months of 2015 a 6,5% noticeable increase in foreign trade. The foreign trade between Italy and Bulgaria amount to over EUR 4 billion. The buying of Bulgarian goods from Italy gathered mainly in the mechanics, engineering, precision mechanics, durable instrumental goods, metals and clothing sectors. A good percentage of the businesses is addressed to the luxury footwear and footwear sectors, textile sector, equipment and machinery of general usage, and products resulting from oil and natural sources. For what concerns the total Italian foreign direct investments (FDI) in Bulgaria, they reached EUR 1,4 billion in 2014 and in particular the FDI net transactions for 2014 from Italy stand at around EUR 19 billion (MFA).

DOWNLOAD COUNTRY PROFILE (English): Bulgaria country profile (Source SACE, year 2016)

DOWNLOAD COUNTRY PROFILE (English): economic and financial statement of Bulgaria (Sourc Unicredit Bulbank, year 2016)

DOWNLOAD (English): index from the dal National Statistical Institute, Republic of Bulgaria 2016


• INTERNATIONAL AGREEMENTS : Bulgaria is a member state of the European Union, of the WTO (World Trade Organization) and NATO (North Atlantic Treaty Organization )

• CHANGE: the currency stability is guaranteed through the fixed change with euro of: 1 Euro = 1.96 BGN (lev)

• PUBLIC DEBT : Bulgaria has the second lower public debt on the European Union (around 17% of GDP) and one of the lower budget deficit of EU (2.1%) in 2011


• DOING BUSINESS INDEX : 38° of 189 countries (52 days to register a business)

• MAIN SECTORS OF OPPORTUNITY : infrastructures, means of transport, instrumental mechanics, energy, railways and building (complete list to follow)

• ITALIAN EXPORT IN THE PRECEDING YEAR : textile and clothing , instrumental mechanics, metals, means of transport, chemistry, others

• MAIN BUSINESS PARTNERS : Germany, Italy follows, then Spain and France



Tax benefits : . The territory of Bulgaria commands one of the most favorable tax regimes of the European Union. The tax rate too for the businesses is fixed flat to 10%. The tax rate for natural persons stands at 10% . However, for the businesses which decide to settle and operate in areas placed in the development plan of the Government or at high unemployment the tax rate is 0% .

Exemption from indirect tax : there are 2 years of exemption from indirect tax on the added value ( VAT ) for what concerns the import of machinery and equipment committed to investment projects in immobilizations or in fixed credit above EUR 5 billion which generate a return on employment, giving job to at least 50 employees.

Dividend: tax rate 5% on the dividends and liquidation quota (0% for the residents of the EU).

Cost of the work : Bulgaria has one of the most competitive costs of the work all over Central and eastern Europe.

Lease and Users : Bulgaria boasts very low lease costs for different types of offices and users .

Electricity : in Bulgaria the cost of electricity is very favourable, corresponding to 70% of the european average.



Bulgaria is placed in the heart of the Balkans, representing a natural strategic logistic hub :

• LOGISTIC CORRIDORS: five European corridors Pan-European Corridors (IV, VII, VII, XI, X) which cross the country and give to Bulgaria a remarkable strategic importance for what concerns the connectivity with EU countries.

DOWNLOAD: Pan-European Corridors (English)

• TRACECA : transport program which connects Europe with Caucasus and the Central Asian region.

DOWNLOAD: Infrastructural development plan of the Bulgarian Ministry of Transports, until 2015 (English)

• AIRPORTS: 4 main airports Sofia, Bourgas, Plovdiv and Varna.

• PORTS: 2 ports Varna and Bourgas and different ports placed in the Danube river.


• HUMAN SKILLS: the workforce is excellent and highly trained in Bulgaria and speaks more than a foreign language.

• MEDIAN AGE : 62.2 % of the Bulgarian population is in the working age (about 4.6 million people)

• HIGH SCHOLASTIC-EDUCATION LEVEL: each year 60.000 students graduate

• LANGUAGESKILLS: 98% of the students of the high school study a foreign language (in most cases English) and 73% of the students study a second foreign language (German is the first for importance, French to follow, then Spanish and eventually Russian)

• INTERNET : the speed of access and web surfing through the internet in Bulgaria is one of the first for speed in Europe, furthermore the diffusion of the service allows the connection and the access to the internet for almost the whole of population and institutions.


Although in the last years Bulgaria invested and worked to improve the quality of many aspects of its socio-economic structure, there are some crucial themes for a further development which require attention for the future:

• Continue with the strengthening of the infrastructural network
• Continue with a further extension of the support given to the businesses in particular in terms of access to services and infrastructures
• Improve further the reduction of bureaucracy and fasten the practices
• Reform the justice


Italy, besides having a key role in Foreign trade as second business partner of Bulgaria with over EUR 4 billion of trade in the last year, is a leading figure in FDI (foreign direct investment) for the Bulgarian economy, thanks to the investments made in Bulgaria from some big Italian businesses and different SME (small and medium enterprises).

In the time lapse passed between 1996 and 2014 the FDI Italian direct investments in Bulgaria, according to the official data of the Bulgarian National Bank, reached a total amount of over EUR 1,4 billion, figure which puts Italy among the main first ten investors in Bulgaria ( after the Netherlands, Austria, Greece, England, Germany, Cyprus, Russia, Switzerland and United States of America).

There is a solid delegation and a significant presence of big Italian enterprises like Enel, Assicurazioni Generali, Mapei, Edoardo Miroglio, Banca Unicredit and Rigoni di Asiago. Furthermore, also the presence of SMEs (Italian small and medium enterprises) of which 300 businesses associated to Confindustria Bulgaria is particularly intense.

The presence of Italian Businesses in Bulgaria has a significant impact also on the global national budget, contributing for around 5% towards the national GDP (gross domestic product), with about EUR 2 billion of annual turnover with consequences on employment for 25.000 jobs.


The labor cost in Bulgaria is one of the lowest among all the European countries. Actually, the average labor cost in this moment stands at around 490 euros per month (NSI data, National Statistical Institute Republic of Bulgaria, 2015).

Obviously, this is an average data, and in many areas of the country wages stand at lower salary levels. However, these areas of the country aren’t always provided with the same infrastructural level of the big urban centers or the main cities of Bulgaria.

At the same time, an excellent quality of the labor force can be detected, especially in the niches sectors and in the technical and informational fields. Some local realities like Plovdiv offer in particular excellent proportions between the labor cost and the quality of the work carried out by the staff.


An aspect that makes Bulgaria an attractive territory is also the tax field. In effects, for what concerns the taxation of the business and individuals Bulgaria offers a flat tax, with a flat rate at 10% for businesses and individuals.It is, as is the case for labor cost. One of lowest tax burdens in the EU (European Union). For what concerns indirect taxes, the VAT standard rate (tax on the added value) applied is equivalent to 20%, but for some specific cases a reduction of the rate to 9% is covered. The different executive governments ruling in the last years reaffirmed in different occasions that the flat tax remains also for the future one of the principles and strategic assets which will drive the fiscal policy of the country.



Bulgaria represents an ideal bridge between UE and the countries of the Balkans, Turkey inclusive, as it is placed at the center of the southeast Europe. The country is a regular transitional point for five Pan-Europeans corridors (IV, VII, VIII, IX e X) and is part of TRACECA (Transport Corridor Europe Caucasus Asia) AN INTERNATIONAL ORGANIZATION created with the aim of promoting an effective infrastructural network between Europe, Caucasus and Central Asia.

The corridor VIII in particular, will link Bulgaria to Italy thanks to the ports of Albania. At the moment the Bulgarian government is investing in the adaptation of the railway and motorway networks. In effects the “Trakia” motorway, which is able to link the capital Sofia to the second most important city of the country, that is Plovdiv, and to the port of Burgas in the Black sea, has been finished. The “Struma” motorway stretch to follow, which will link Bulgaria to Greece. For what concerns the air transports the cities of Sofia, Plovdiv, Burgas and Varna are provided with international airports.

Moreover, in addition to national-flag airlines also the low-cost companies broke into the Bulgarian market strengthening the competition in the civil aeronautical sector. Eventually, it is fair to remember that Bulgaria has two of the most important ports of the Black Sea  in Varna and Burgas  and that the North of Bulgaria it’s part of the fluvial transport system of the Danube. This logistic asset, thanks to the Main Canal, allows the ships to travel and to cover directly the stages from the Black Sea to the North Sea.



The investments of the foreign countries in Bulgaria represent one of the main engines for the growth of GDP and the country. Therefore the attention for the international entrepreneurship is high. The membership to EU (European Union) makes the legal system of the country similar to Italian and other European countries standards. The Europan funds too, which have a great impact on the country, are very important. For the period 2007- 2013, EUR 6,8 billion were earmarked to Bulgaria through the EU Structural FundS. Particularly interesting and effective were also the funds allocated and disbursed through the Competitiveness Operative program, funds earmarked for private businesses. For the European Commission planning period of the European Structural Funds 2014-2020, EUR 7,4 billion have been allocated for Bulgaria, an important amount divided into 7 operative programs:

- Transports EUR 1,6 billion
- Environment EUR 1,5 billion
- Areas on the increase EUR 1,3 billion
- Innovation and competitiveness EUR 1,2 billion
- Human Ressources EUR 0.9 billion
- Governance EUR 0,2 billion
- Science and Education EUR 0,5 billion

To these funds follow the EU resources coming from the Common Agricultural Policy (CAP) and others funds coming from the Common Fisheries Policy (CFP) which allocate EUR 7,5 billion.


- Agricultural and Food sector
- Textile sector and clothing
- Leather industry and footwear
- Wood industry and furniture
- Energy, renewable energies and natural resources
- Chemical and pharmaceutical industry
- Rubber and plastics manufacture
- Glass and ceramic
- Metals manufacture
- Mechanics, precision mechanics, instrumental and durable goods
- Electronics
- Transport and logistics
- Constructions, building material, real estate and property activities.
- Other manufacturing industries
- Insurance and bank services
- Commerce and marketing
- Environment and ecology
- Informational services, ICT, communication
- Services to businesses
- Tourism, refreshment, hotels


P.zza Pozitano 2, Sofia 1000, Bulgaria
Tel: +359 (0) 2 8901420;
Fax: +359 (0) 2 8901424

1000 Sofia, 8 Aksakov Str.

ITA BULGARIA (Italian Trade Agency)
Bul. knyaghinya Maria Luisa, 2
Business Center TZUM, 1000 Sofia Bulgaria



SOURCES FOR THE ARTICLE: “Entrepreneurial Mission in Bulgaria”

- Confindustria Bulgaria

- International Center of UniCredit Bulbank

- ITA (Italian Trade Agency)


- SACE Country Risk Map

- Ministry of Transport GOV Bulgaria

- National Statistical Institute Republic of Bulgaria

- TRACECA (Transport Corridor Europe Caucasus Asia),