Hi folks, does anyone have experience of this tax incentive for foreign buyers? http://www.mondaq.com/italy/x/780266/retirement+superannuation+plans+pensions+schemes/New+Italian+Tax+Regime+For+Foreign+Retired+PeopleIf it's as good as it looks, thi
Hi folks,I have just discovered the 'Elective Residence Visa'. It looks like I meet the conditions for obtaining one. I have two questions:1 How many times can you renew a 'permessi di soggiorno'?
Hi folks,I'm doing my due diligence on becoming an Italian resident, and have received an estimate of my tax liability.Wow! In the UK, I'd pay 16.61% of my gross income to the Revenue. In Italy, I'd pay 31%.
Thanks guys.I haven't owned a car for nearly 6 years, but previously had a fully comp policy in Spain with 100% no claims. I guess I could use that to try and reduce the cost of insurance. However, sounds like it's going to be more expensive.Right now, I'm thinking that the maths of becoming a resident are rather unfavourable.Work in progress :)James
Ciao Modi,Thanks, again.I'm not going to work, so health and car insurance will not be offset against business income.Is car and health insurance more than in the UK?I'd be driving something fairly modest. I'm nearly 63, so expect to be paying €1000 to 1500 for private health cover.James
Ciao Large Lewis,Thanks for your reply. It sounds like you are enjoying the best of both worlds: tax in the UK, pleasure in Italy :)I know how wonderful the 'lifestyle' is, but if it comes with too high a price, I'll have to think again.I knew the tax was higher but didn't realise just how much. Spain is just as penal, so I've ruled that out too.Another option is to do extended house-sits. There is a growing market for this.I live normally, cooking at home but enjoying a couple of meals 'out' a week.Anyway, I hope others who have become tax residents can give me their view.Best wishes,James
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Thanks guys.I haven't owned a car for nearly 6 years, but previously had a fully comp policy in Spain with 100% no claims. I guess I could use that to try and reduce the cost of insurance. However, sounds like it's going to be more expensive.Right now, I'm thinking that the maths of becoming a resident are rather unfavourable.Work in progress :)James
Ciao Modi,Thanks, again.I'm not going to work, so health and car insurance will not be offset against business income.Is car and health insurance more than in the UK?I'd be driving something fairly modest. I'm nearly 63, so expect to be paying €1000 to 1500 for private health cover.James
Ciao Modi,Thank you.You mention insurance. Is that health, home, and car insurance?James
Ciao Large Lewis,Thanks for your reply. It sounds like you are enjoying the best of both worlds: tax in the UK, pleasure in Italy :)I know how wonderful the 'lifestyle' is, but if it comes with too high a price, I'll have to think again.I knew the tax was higher but didn't realise just how much. Spain is just as penal, so I've ruled that out too.Another option is to do extended house-sits. There is a growing market for this.I live normally, cooking at home but enjoying a couple of meals 'out' a week.Anyway, I hope others who have become tax residents can give me their view.Best wishes,James