When I was in Italy we drove on a narrow, winding country road in the hills with no guard rail; this was a two-way road and I was pretty sure we were going over the side. Once you get past the initial fear, driving in Italy can be exhilarating. If you are planning to do just local drives many people opt for Vespas; from the young to the old you see all types of people riding around on these motor scooters. They are especially helpful if you are trying to navigate the narrow city streets.
Living in Italy is not cheap. Prices are higher there and you will need to budget accordingly. Depending on what city you choose to live in will greatly affect how much you are going to pay for a place to live.
In less popular areas of the country your rent or the price per square meter will be much lower. If you go to lesser known areas of Italy you can find affordable housing. Even in the smallest of villages you will be able to find the charm and beauty you would expect from Italy.
If you are able to afford Italy you will be living a more relaxed lifestyle, as the Italians have a way of living life that makes everyday feel like a holiday. La dolce vita means the sweet life and in Italy it certainly is. Italy is rich with history and culture with lots of things to do and see.
I spent a week exploring Siena and I can honestly say I have never been happier or more at peace. The city is small enough that you can learn to navigate the streets quickly and go exploring by yourself, which I did often. At the time of exercising the option, or even subsequently, the pensioners can choose to subject to the Flat Tax just some of the income produced in one or more foreign states or territories.
Rules for assessment, collection, litigation and penalties of the Flat Tax are the same that apply for the ordinary income tax. The Flat Tax regime can be renounced by the retiree while remaining valid for previous tax periods. The law also provides for some case in which the Tax Authority can deny the Flat Tax regime, namely:. Finally, if the pensioner renounces to the Flat Tax regime or the latter is denied by the Tax Authority, he would not be able to exercise a new option.
The maximum the tax benefit period changes from the previous five years to the actual nine years after the fiscal period in which the option becomes effective according to indications provided above.
To request International Tax Advice, e-mail us at info itaxa. The new Italian Flat Tax for pensioners and the requirement of transferring the tax residence to Italy Art. The investment requirements for the program were recently adjusted downwardly with a view to make the program for appealing. The Italian Elective Residence Visa Program The Elective Residency Program offers affluent foreign retirees the ability to obtain Italian residency without the need to make a significant capital investment — but with relatively less flexibility pertaining to minimum in-country stays than more conventional Golden Visa Programs in order to maintain the ability to renew the Elective Residency Visa, the visa holder cannot leave Italy for a period of more than 6 months.
The Elective Residence Visa is typically issued for an initial period of 12 months, after which it can become renewable at 2-year intervals, provided that the visa holder keeps on fulfilling the relevant criteria. In addition, there is a large amount of government discretion in terms of approving this particular type of visa, so working with a seasoned Italian Immigration law firm is highly advisable.
The cover has to be valid EU-wide, and it has to be pre-paid for a minimum period of 12 months. The Italia Tax-Free Pensioners Program This program aims to incentivise both foreign and Italian pensioners to take up residency in the south of Italy, and in Calabria, Sicily and Sardinia, in particular, by offering them a year tax holiday on their retirement income for spending a minimum of 6 months per year in their Italian home.
Contact us for more info. Best places to retire in Italy As a retirement destination, Italy has a lot to offer. While your exact second home location will likely be influenced by personal taste, proximity to infrastructure or based on regional preference, the following 5 regions are well worth considering: Lazio : For retirees who value quality healthcare delivered in English, Lazio, and Rome, in particular, makes a lot of sense as a retirement destination.
Lombardy : For retirees seeking luxury living, natural splendour and a sophisticated cultural scene, Lombardy is an excellent choice. Milan and Lake Como are both sought after as retirement destinations, however Lake Como tends to be more of a summer home destination. Puglia : Internationally sought after as a less crowded travel destination, Puglia is also highly popular among expat retirees from across the globe.
Offering sumptuous cuisine and spectacular beaches, as well as high quality locally produced wines, Puglia is an ideal location for a leisurely, sun-drenched retirement. Tuscany : Boasting Instagram-worthy natural vistas, excellent wines and the arts, culture and bustle of Florence, it is not surprising that many foreign expats look no further than Tuscany when choosing where to retire in Italy.
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