06 Jan New Law Passed for Retirement in Italy
New Law Passed for Retirement in Italy
When you traveled to the South of Italy, you must have fallen in love with its’ majestic scenery or perhaps met more than a few friendly locals. Thoughts of retiring here have surely crossed your mind. Well, the Italian Government has been reading your thoughts.
As part of the Financial Budget 2019, a new law was just passed with the aim to incentivize international retirees to move to select small towns in the South of Italy. Hill towns, historic sites and internationally recognized beach locations are now part of the list. Get ready to plan your retirement.
The law also states that the municipality of residency must have a population not exceeding 20,000 inhabitants and located in one of the following Regions: Sicily, Calabria, Sardinia, Campania, Basilicata, Abruzzo, Molise, Puglia.
The initiative, approved by the Chamber of Ministers on 30 December 2018 aims to compete with popular retirement destinations across the Mediterranean. These countries offer retirement programs with similar lifestyle and tax advantages.
Details of the Beneficial Tax Regime for Retirees in Italy
Persons with a foreign-source pension income can access a substitute tax regime of 7% instead of the standard and much more expensive progressive tax rate.
The scheme applies for 5 tax periods (5 years) and requires the retirees to spend at least 6 months (183 days) in Italy to benefit from the special fiscal regime.
Other Benefits of Retirement in Italy
In Italy, healthcare is mostly free when you’re a legal resident, with low fees for many examinations. Private doctors can be more expensive but are readily available and still far more reasonable than, for example, the U.S. healthcare system.
Travel within Italy is a unique experience. Easy movement by car, train or plane with flexible travel and access to wider Europe is readily available.
We select locations for you that are relatively close to airports, in a safe environment, have public services, welcoming local people and if required, an existing expat community to make you feel at home. Some of these towns may even be international tourist locales for six months of the year.
Want to Know More About Retirement in Italy?
Does this sounds like it fits your retirement plan?
Enquire now to receive a more detailed brochure and list of qualified locations
For more information, please see:
Italy’s Investor Visa Program has 4 options to choose from, starting at 500,000 Euro. Full Access to the EU. The Flat Tax Program of 100,000 Euro per year regardless of income abroad is an option worth considering, a good contender with Monaco.