Sounds great! I live in the USA but I just got my Italian Citizenship by descent confirmed within the past few weeks and now waiting to be fully registered in AIRE and also obtain my codice fiscale. If I am hearing right, purchasing my first home (non-luxuary) should have a 2% purchase tax on the value of the property as defined by the government and no annual property tax if I move in soon after. Please correct me if I mis-understood! So, my hope is to sell my home in the US and then purchase in Italy, relocate there and then retire (or maybe start a part time business just to have a little extra spending income). Although I have not yet decided where to live, I am looking into possibly living in the Florence area. When I am ready to pull the trigger, I will reach out to Marco for assistance!
Congrats to you. That's also my dream, but it will be complex due to the fact that my grandparents all came to the U.S. very young; so they probably got naturalized before having kids. Maybe via my GG will be possible...
Do you have a vlog explaining the costs associated with furnishing a property for an Airbnb/vacation home in Italy? I saw the video where you explained the costs for total restorations, but what if it just needs to be furnished?
I own a home in Bagheria and plan on moving there within the next year. So if I understand you correctly, If I purchase a second house, I owe yearly taxes (IMU) and the second house but not on the first house?
Wait...Marco, if I buy a home in Italy (even if I'm American living ...currently...in America) but it's my first home bough in Italy there's no annual tax? For one year only or all first homes pay nothing? Mine would DEFINITELY not be a luxury property!
The expert's answer in the episode is obviously incorrect or imprecise. For an owner who does not live in his or her first home in Italy, this is a second home (seconda casa) for which the full annual IMU tax must be paid.
From what I understand, only Eu citizens and their spouse, and immigrant workers (with a working visa) in Italy can change their residency to Italy and that makes it a primary resident for a taxation purpose, and of course you should be living there at least 183 days per year.
I looking at an apartment that cost 2.5 mil. I live in the US in Texas. The apartment is in Florence and I would be moving and would like citizenship to retire there in Italy. I will speak to the agent about all the current fees associated with the property.
Thanks guys! Appreciate the content!
ciao amici. always an interesting video. grazie mille.
Very helpful
Sounds great! I live in the USA but I just got my Italian Citizenship by descent confirmed within the past few weeks and now waiting to be fully registered in AIRE and also obtain my codice fiscale. If I am hearing right, purchasing my first home (non-luxuary) should have a 2% purchase tax on the value of the property as defined by the government and no annual property tax if I move in soon after. Please correct me if I mis-understood! So, my hope is to sell my home in the US and then purchase in Italy, relocate there and then retire (or maybe start a part time business just to have a little extra spending income). Although I have not yet decided where to live, I am looking into possibly living in the Florence area. When I am ready to pull the trigger, I will reach out to Marco for assistance!
Congrats to you. That's also my dream, but it will be complex due to the fact that my grandparents all came to the U.S. very young; so they probably got naturalized before having kids. Maybe via my GG will be possible...
Do you have a vlog explaining the costs associated with furnishing a property for an Airbnb/vacation home in Italy? I saw the video where you explained the costs for total restorations, but what if it just needs to be furnished?
thank you
I own a home in Bagheria and plan on moving there within the next year. So if I understand you correctly, If I purchase a second house, I owe yearly taxes (IMU) and the second house but not on the first house?
How much are the annual taxes, on a second home? How are they calculated? Thank you!!
Wait...Marco, if I buy a home in Italy (even if I'm American living ...currently...in America) but it's my first home bough in Italy there's no annual tax? For one year only or all first homes pay nothing? Mine would DEFINITELY not be a luxury property!
It applies only if you have Italian citizenship
The expert's answer in the episode is obviously incorrect or imprecise. For an owner who does not live in his or her first home in Italy, this is a second home (seconda casa) for which the full annual IMU tax must be paid.
From what I understand, only Eu citizens and their spouse, and immigrant workers (with a working visa) in Italy can change their residency to Italy and that makes it a primary resident for a taxation purpose, and of course you should be living there at least 183 days per year.
I looking at an apartment that cost 2.5 mil. I live in the US in Texas. The apartment is in Florence and I would be moving and would like citizenship to retire there in Italy. I will speak to the agent about all the current fees associated with the property.