Russian\u00a0<\/strong>oligarchs,\u00a0American\u00a0<\/strong>tycoons, wealthy\u00a0Chinese, Asian<\/strong>\u00a0scoundrels,\u00a0British\u00a0<\/strong>ready to escape from the Brexit and entrepreneurs from\u00a0Northern Europe<\/strong>: they are all on the\u00a0hunt for prestigious properties in Italy,<\/strong>\u00a0became a\u00a0tax haven,\u00a0<\/strong>attracted by\u00a0favorable taxation<\/strong>.<\/p>\n The tax mechanism is such that foreign\u00a0buyers are encouraged to buy<\/strong>, intensified the appetites of wealthy foreigners to whom the\u00a0Italian taxman winks<\/strong>, and for those who have had a foreign residence for many years and move to Italy, they can choose to\u00a0activate a special \u201cflat-tax\u201d<\/strong>, a fixed tax of 200,000 euros per year.<\/p>\n The law is operational<\/strong>\u00a0with instructions and a special check list\u00a0developed by the Revenue Agency<\/strong>. The novelty, according to some estimates, could immediately affect a thousand subjects and aims to become a\u00a0new tax haven<\/strong>\u00a0and\u00a0to compete with countries like Spain and Great Britain<\/strong>\u00a0(now affected by Brexit) which thus\u00a0attracted Emirs, footballers, singers<\/strong>.<\/p>\n The\u00a0concession will only apply<\/strong>\u00a0to those who\u00a0have resided abroad for at least 9 tax periods in the last 10 years<\/strong>\u00a0and are easily activated:\u00a0it therefore aims at foreigners<\/strong>\u00a0and\u00a0keeps those<\/strong>\u00a0who have\u00a0moved from Italy abroad in recent years<\/strong>.<\/p>\n The convenience, of course, is especially present for those who have large assets and incomes. But even for those with large families with earnings at many zeros, family members will also be able\u00a0<\/strong>to\u00a0benefit from the tax-lump sum, paying the taxman 25,000 euros.<\/strong>\u00a0(see\u00a0here<\/a>)<\/p>\n The option,\u00a0introduced with the 2017 Budget Law<\/strong>, provides for the payment of a flat-rate\u00a0tax of 200.000 euros for each tax period for which it is exercised<\/strong>.<\/p>\n Architect Francesco Mottini<\/strong>, head of the international sector of\u00a0The Dream Real Estate<\/strong>, which deals with\u00a0properties worth more than \u20ac 2 million<\/strong>, explains that purchases of historic homes and\u00a0extra-luxury properties<\/strong>\u00a0in locations unique in the world\u00a0have accelerated.<\/strong>\u00a0\u00abWe receive many requests and a good percentage for property of important historical and artistic value. While until a few years ago the buyers were mainly Americans, Russians and Arabs,\u00a0the market has now opened up.<\/strong>\u00a0Wealthy Australians, Africans and Asians turn to us \u00bb.<\/p>\n Sales also run online.<\/strong>\u00a0About 3 million citizens from across the Alps are\u00a0looking for luxury properties<\/strong>\u00a0in the \u201cBel paese<\/em>\u201d\u00a0thanks to the flat-tax, to buy a luxury home.<\/strong><\/p>\n The Euro<\/strong>\u00a0has\u00a0halved assets<\/strong>\u00a0and young people have inherited assets that they are no longer able to maintain with their current incomes.\u00a0In addition<\/strong>, taxes have increased.\u00a0Brexit is pushing numerous wealthy people to leave London.<\/strong>\u00a0They choose\u00a0Italy for life style and hystorical heritage.<\/strong><\/p>\n Browsing among\u00a0the major websites<\/strong>\u00a0specializing in\u00a0luxury real estate sales,<\/strong>\u00a0dozens and dozens of advertisements appear. Numerous are the ones above one million euros, with\u00a0peaks reaching 20 million Euro.<\/strong>\u00a0It is not just private individuals who move. The\u00a0Italian real estate market<\/strong>\u00a0is at the\u00a0center of attention<\/strong>\u00a0of\u00a0sovereign wealth funds<\/strong>\u00a0of the\u00a0Arab countries, American private equity, French and German insurance companies<\/strong>\u00a0and\u00a0Chinese financial companies.<\/strong><\/p>\n The investments<\/strong>\u00a0made by these giants\u00a0are estimated to exceed 25 billion Euros.<\/strong><\/p>\n The Qatari funds bought<\/strong>\u00a0the\u00a0Baglioni hotel\u00a0<\/strong>and the\u00a0Excelsior in Rome<\/strong>, the\u00a0Starwood in Florence<\/strong>, the\u00a0Gritti in Venice<\/strong>, the\u00a0American Express\u2019s building<\/strong>\u00a0in Piazza di Spagna\u00a0in Rome<\/strong>\u00a0where they opened the Valentino fashion couture store.<\/p>\n\n\n Need real estate advice? Contact us at +39 339 5068 750<\/a> or email us at info@thedreamre.it<\/a><\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" THE FLAT-RATE TAX FOR FOREIGN RESIDENTS ACCELERATES THE SALES OF ITALIAN LUXURY REAL ESTATE<\/p>\n","protected":false},"author":1,"featured_media":950,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-1144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/posts\/1144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/comments?post=1144"}],"version-history":[{"count":4,"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/posts\/1144\/revisions"}],"predecessor-version":[{"id":9910,"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/posts\/1144\/revisions\/9910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/media\/950"}],"wp:attachment":[{"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/media?parent=1144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/categories?post=1144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thedreamre.it\/en\/wp-json\/wp\/v2\/tags?post=1144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}WHO BENEFITS FROM THE TAX ADVANTAGE<\/h2>\n
THE RACE TO THE NEW TAX HAVEN HAS ALREADY STARTED<\/h2>\n
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