8868 Property ownership

I hope someone here could help me with the following question:
Is it possible for a company in the British Virgin Isles, to own a property in Italy. The members of the company are not EU citizens. What are the tax implications.

Category
Legal

Submitted by Anonymous (not verified) on Sun, 02/24/2008 - 02:43

I don't think any part of Italy has citizenship rules on property ownership. I can't remember the small bit that's more on the Swiss side then the Italian. But that's just one town.

Taxes?

Purchase taxes will be higher from the Italian side.

If it's a corporation remember it has it's own citizenship. The shareholders don't transfer citizenship to the company.

Submitted by Anonymous (not verified) on Mon, 02/25/2008 - 13:05

Dear Tom

There are no limits to own a property in Italy, even if the buyer is a company registered in the British Virgin Isles.
About taxes, the company will have to pay all the taxes related to the Italian property.

All the best,
Massimo