Incentivizing your move to Italy
It is possible to receive a tax ruling before arriving in Italy, providing certainty to the applicant
It is not always appreciated how efficient it is to move to Italy.
The Italian government has taken steps to attract successful people to the country, introducing a special impatriati tax regime for highly skilled professionals, ultra-high net worth individuals (UHNWIs) and retirees.
As well as being financially beneficial, the incentives provide certainty, with a flat 7% rate of tax for retirees and a 100,000€ annual flat tax for high net worth individuals, which covers all their foreign sourced income.
In contrast with many other countries, it is possible to receive a tax ruling before arriving in Italy, providing certainty to the applicant. And once your status is confirmed by the tax authorities, it is possible to stay under the regime for 15 years.
EU nationals can apply for Italian citizenship after 4 years of Italian residence while non-EU citizens need to wait 10 years. The latter can also benefit from a fast-track procedure to obtain an investor visa, by making an investment into Italian government bonds, Italian companies or start-ups, or by donating to an Italian charity.
Since helping a UK client to become the first UHNWI to benefit from the special tax regime, we have guided a significant number of people through the process, acquiring unique experience. A move can be challenging for families and personal relationships so we aim to make the process as smooth as possible. If you are considering relocating to Italy, our teams in Milan or Padua will be delighted to discuss the options available to you.