What it would be like to retire in Italy paying a flat tax of 7% on all your income generated outside of Italy?
Live your dream retirement in Italy by discovering the romantic island Sardinia, smouldering Mount Etna in Sicily, visiting the curious dome-shaped trulli houses in Apulia and other amazing places. Southern Italy is waiting for you with open tax arms.
Under the Article 1 (273-274) of Law N.145/2018 (so-called Legge di Bilancio 2019), foreign retired people or Italian people retired outside and not resident in Italy for the last five years would pay a flat tax of 7% on all the income generated abroad (i.e. social security checks, pension, investment returns and dividends) on the only condition they move their tax residence to Italy, in a city of following southern Italian regions Sicily, Calabria, Sardinia, Campania, Basilicata, Abruzzi, Molise and Apulia with no more than 20.000 citizens.
I know, it’s a great opportunity but you are wondering “what about healthcare in Italy”?
In Italy, you don’t have to pay for health insurance. Like many Western nations, Italy has a national health service ranked in the top 10 for quality care according to the World Health Organization.
Once you’re an Italian resident, prescription drugs prescribed by a doctor are covered by the taxpayer. You will pay out of pocket only for over-the-counter drugs.
If you would really love to pass the rest of your days in one of the best countries in the world, it is worth taking into consideration to move to one of the beautiful cities of Southern Italy and take benefit from the 7% flat tax on all your foreign income.
As you may have already understood, Italy is happy to welcome retired people and their spending money.
To learn more about it, contact us.
