High Net Worth Individuals can become residents, later permanent residents in Italy through an exclusive tax status agreement. The applicants must pay a fixed annual tax for the right of living in the EU.
– You can live in Italy and stay in the other countries of the Schengen area.
– The fixed lump-sum tax is 100,000 euros per year, instead of the progressive scale taxation.
– You don’t have to live in Italy to maintain your permanent resident status.
– The tax agreement scheme allows you and the members of your family to become permanent residents and later citizens of Italy.
– The residents are exempt from the Italian financial monitoring system
– There is no inheritance and gifts tax in Italy for the residents under the tax agreement scheme
-You don’t have to pay the taxes on real estate abroad (IVIE) and the on the property and financial assets abroad (IVAFE).
The resident must pay a fixed 100,000 euros annual tax on his or her foreign-sourced income and 25,000 euros for each additional family member.
– Income from self-employed status and employment
– Dividends and interests
– Business income from foreign projects and operations
– Capital gains from assets and activities abroad
– Income from property and real estate holdings
– First of all, you will need a tax decision for the favorable tax status before 30 September.
– You must clarify your last tax residence and name the members of your family who will join you in Italy.
– Take care, in the case of non-payment or overdue payment of the fixed tax; the Italian authorities will cancel your tax status.
– You can obtain the special tax status only once. If you lose it, can’t apply for it again.