Starting from January 1, 2019 pensioners who decide to move their residence to Southern Italy could be eligible for a 7% flat-rate tax on all their foreign income. This attractive tax regime was introduced by Italian Budget Law for 2019 (Law no. 145/2018) in an effort to boost the declining population of certain regions in the South of Italy.
Retirees can benefit from the flat-rate tax for up to six years and they will also be exempt from reporting obligations on foreign assets.
Foreign pensioners who intend to move to Italy long term and take advantage of this favourable tax regime can apply for the elective residency visa, a type of visa specifically intended for foreigners who can demonstrate the ability to support themselves autonomously, without having to rely on employment while in Italy, such as retired persons or persons with high self-sustaining incomes and financial assets.
related: Italy Elective Residence Visa
Our immigration consultants can provide comprehensive legal advice and practical assistance with Elective Residence Visa (residenza elettiva) and resident permit applications. Contact us for a free quote, we would be delighted to help you reach your targets and goals.
