A Guide to buying a House and Relocating to Italy

Many British citizens decide to relocate to Italy to enjoy its breathtaking landscapes, first-class cuisine and one of the most fascinating cultural heritages in Europe. Italy’s climate, pace of life and attractive economic environment make it one of the best locations across Europe to make an investment via property purchase.

Buying a house in Italy can have a dual purpose, ideal as a holiday home which can generate substantial income throughout the summer season and can eventually become an ideal retirement location in years to come. Giambrone & Partners’ lawyers can advise on a range of legal services through our offices throughout Italy in connection with property purchase and the related issues of visas and immigration to enable British citizens to visit and live in Italy.

Italy’s real estate market has maintained stability in the face of the recent global issues and will continue to be resilient in the foreseeable future which makes Italy an excellent choice for British nationals, particularly those people considering retirement to Italy. Foreign nationals are encouraged by the Italian government to buy property in Italy. Our expert lawyers in our Italian offices will assist with all aspects related to property purchase and be by your side through the whole process so that you can visit or live permanently in your house in Italy.

Giambrone & Partners will be exhibiting at the next Place in the Sun exhibition in Manchester, where our lawyers and client services team will be able to answer all your questions about property purchase and relocation to Italy, you can come along and find out all you need to know, please click here for more information

Giambrone & Partners’ expert English-speaking lawyers have many years’ experience of assisting British nationals to buy property in Italy across all regions. The purchase process in Italy varies from that in the UK but our lawyers will be by your side throughout the process and can manage any issues that may arise.

Elze Obrikyte, an Associate, commented “One of the major differences between the conveyancing process in Italy and the UK is that notaries assist in real estate purchase. However, it is strongly recommended that you take legal advice from an English speaking lawyer (Avvocato) throughout your purchase to assist with any negotiation and to ensure that the contracts are valid”. Elze further remarked “also, it is crucial that the outcome of the due diligence and its implications are fully understood as it is imperative that property’s provenance is sound and there are no debts against the property.”

Brief overview of Process

Proposal of purchase

Once the due diligence has been undertaken and it has been established that the property is in good order, a proposal of purchase can be presented, a deposit, which forms part of the purchase price, must be paid to accompany the proposal of purchase

Preliminary contract

The preliminary contract, contratto preliminare, is then drawn up that defines all the particulars of the transaction, such as the purchase price, when the sale will take place and defines the type of building. The preliminary contract secures the transaction and binds the parties to the transaction. Since 2007 estate agents are obliged to register the preliminary contract.

If the preliminary contract is breeched by either party there are financial consequences for both parties. If the seller does not proceed they will be liable for double the amount of the deposit to you, which is outlined in art. 1382 Italian Civil Code. Should the purchaser not go ahead with the purchase the deposit is forfeit and the seller will keep the deposit.

Deed of Sale

The deed of sale, rogito, is signed by both parties and witnessed by notary and an independent witness. It is then registered at the Revenue Agency by the notary. The cadastral transfer, the transfer of title, can then take place and will be recorded at the Ufficio del Territorio appropriate to the location of the property.

Tax

There are a number of charges, fees and taxes associated with the purchase that apply to the property purchase in Italy, dependent on the purchaser’s personal circumstances. Taxes may only be paid through an Italian bank account. Our lawyers can assist you with opening a bank account in Italy.

Relocation to Italy

Giambrone & Partners can assist individuals and families with all the other issues associated with the purchase of a property in Italy. Most importantly we can help you to obtain the right visa to ensure that you are able to visit and live in Italy for as much time as you would like to. As well as assisting individuals planning to relocate and retire in Italy.

Immigration

There are a number of visas to enable an individual to live, work, study or retire to Italy. Our immigration lawyers have wealth of experience in assisting British citizens wishing visit and live in their Italian property for longer than 90 days limit imposed following Brexit. As well as assisting people who would like to be able to spend their retirement years in Italy.

The elective residence visa residenza elettiva, is the best option for individuals planning to live in Italy but also requires the applicant to apply for a residence permit.

Elze Obrikyte, an associate, commented “most foreign nationals who would like to retire to Italy will have the required financial means to support themselves without working by virtue of their pensions.” Elze further commented “in order to claim your UK state pension you must have claimed your pension for at least four months. An application can then be made through the International Pension Centre to arrange for your pension to be paid in Italy”.

An elective residency visa allows you to live in Italy but not to work, all income you receive must come from outside Italy. There is no requirement to have Italian heritage.

The principal requirements are as follows:

• An applicant must have a good income with enough money to live on
• The precise amount is not defined, however it is generally expected to be around €31,000 for a single applicant and €39,000 for a couple.
• An applicant must have comprehensive health insurance

The expert lawyers at Giambrone will be able to assist you with your visa application to the consulate authorities and help you by presenting it in the best possible way so that your submission can be quickly and easily reviewed by the authorities. Once granted your visa lasts for one year and can be renewed year on year provided your ability to fulfil the criteria has not changed.

Giambrone & Partners’ lawyers can guide you through all the complexities of the system and make sure that your Italian property purchase is watertight and proceeds smoothly without any inconveniences or major issues and also help with the application for a visa that will allow you to live in permanently in Italy without any problems. 

Elze Obrikyte, head the immigration department in Palermo and has extensive expertise in Italian immigration matters and comprehensive knowledge of European and International Law. She assists clients in respect of a wide range of types of applications for Italian citizenship and immigration matters.

If you are intending to buy a property in Italy or relocate to Italy please contact Italy@giambronelaw.com or please click here.