Italian law
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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Property law, Real Estate Law

Italian flat tax (cedolare secca) on rental incomes from Italian properties

In Italy, homeowners are expected to pay tax on any payment they receive from long or short term rental of their Italian properties.

Generally speaking, the Italian law requires that tax from rental income is paid by all the co-owners of the property on a pro quota basis, no matter who actually signed the rental contract or if the rent is paid in favour of only one of the co-owners.

Italian flat tax (cedolare secca)

However, as per recent case law, depending on the specific case scenario, different regulations might apply. Please get in touch for a preliminary consultation on rental income tax issues.

With respect to rental income tax in Italy, homeowners who act as individuals and are not professional landlords, have two options:

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Property law, Real Estate Law

What is the holding account (deposito prezzo)?

Deposito prezzo is the term used for a specific bonded holding account for the balance of payment related to the purchase of an Italian property.

Deposito prezzo protects against the risk of legal claims or encumbrances that may arise between the signing and registration of the deed of sale at the land registry (catasto).

deposito prezzo

Once you have signed a deed of sale, it is sent to the land registry, where an official stamp is placed on the deed of sale. The registered deed of sale is returned to the notary you used to authenticate the transaction.

It generally takes two to three months to obtain the registered deed of sale and thereafter, you can obtain a copy from your notary.

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By In Inheritance, Inheritance Law, Italian law, Law, Law Firms in Italy, Notaio, Notary

What is a Will for?

A Last Will and testament is absolutely necessary to avoid causing conflicts among your heirs, especially if you are a foreign citizen who owns goods and property in Italy. Not only can a Will allow you to assign your inheritance to the appropriate beneficiary, but it could also be useful to prevent problems for your heirs, and it could even enable you a tax saving. Let’s see more specifically each case.

Those who are married or in a registered partnership and without children

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By In Italian law, Italian tax code (codice fiscale), Law, Law Firms in Italy

How to obtain an Italian tax code (codice fiscale)

Applying for Italian tax code (in Italian: codice fiscale) seems a simple task, but there are some hidden pitfalls to be aware of. Check them out in the article below.

Table of Content

What is and When an Italian tax code (codice fiscale) is needed:

What do the tax code figures mean.

Where and how to apply for the tax code in Italy.

What document/information is required to apply for the Italian tax code:

Common mistakes when applying for the Italian tax code.

  • a.      Wrong date of birth format:
  • b.      Wrong name.
  • c.      Maiden names: 2
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By In Italian law, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Italian real estate agents lack legal skills

Make sure to read this, prior to signing any property purchase offer in Italy

You’ve seen it: the Italian property you’ve always dreamt about.

Now you have a pen in your hand and the property purchase proposal in front of you, ready to be signed.

Take your time before putting pen to paper, no matter who drafted that proposal for you.

Italian real estate agents lack legal skills

You deserve a little hesitation, especially if you are going to sign a boilerplate template provided by a Real Estate Agent and not by your own legal advisor, or if there is anything whatsoever that you feel is unclear to you.

If the proposal has been provided by Real Estate Agents, I am sure they told you that it’s a standard proposal, drafted as per common general terms and in compliance with the Italian civil code; and that the standard template itself has been approved by the Chamber of Commerce.

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By In EU provisions, Italian law

Elective Residency Visa – Requirements

elective residence visa

An Elective Residency Visa (ERV) is specially intended for foreign nationals wishing to permanently reside in Italy and who are in the position to support themselves financially without working in Italy.

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By In Inheritance, Inheritance Law, Italian law, Italian Property, Italian Real Estate, Italian Will, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

An Italian Notary Public’s Escrow Account Is The Safest Way To Manage Property Purchase Payments in Italy

Escrow account

In Italy only an Italian Notary Public’s escrow account benefits from full and complete legal protection against possible creditors.

There are two main payments you are expected to make when buying a property in Italy,or that you will receive, if you are selling an Italian property; the deposit and the balance.

The deposit is usually paid upon purchase offer acceptance and it is aimed at confirming the parties’ intention to proceed with the purchase-sale contract. The balance is customarily paid upon closing, unless otherwise agreed.

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Can I Back Out of A Preliminary Contract?

Can I Back Out of A Preliminary Contract?

You’ve signed a preliminary contract on a property. You rather rushed in to it because you didn’t want to miss out on what you thought was a great Back Outopportunity. It’s long been your dream to own a penthouse in the centre of Rome and when you saw this apartment, you just had to have it.

However, in hindsight and after viewing the apartment again, you realise the penthouse isn’t as big as you thought. When you first saw the place, you could see potential to extend in to the roof space, but you now doubt that the municipality will grant permission to convert the space. Besides, you recognise that even if your planning application is accepted, it’s going to be prohibitively expensive. The date for signing the deed of sale is looming. What can you do? (more…)

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By In Inheritance, Inheritance Law, Italian Divorce Law, Italian law, Italian Property, Italian Real Estate, Italian Will, Law, Law Firms in Italy, Notaio, Notary, Property law, Real Estate Law

Italian Inheritance Tax – Imposta di successione

Italian Inheritance TaxItalian inheritance tax, “Imposte di Successione” was abolished by law no. 383 of 18 October 2001. Subsequently, the government re-introduced inheritance tax through law no. 286, dated 24th November 2006. The law has been applicable to inheritance cases since 3rd October 2006. (more…)

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Property Selling Guide

This property selling guide focuses on the issues that a seller may encounter during an Italian property conveyance.

When selling an Italian property, there are some legal issues which should be seriously considered. Due to the language barrier and differences in property sellinglegal systems, real estate transactions in Italy can appear as a difficult and protracted process for foreign investors. The Italian legal process is obviously technical and might expose you to some risks. Considering the interests at stake in a real estate transaction, it is advisable that you seek the assistance of a qualified bilingual legal advisor, who has the competence to guide you through the process and advise on potential risks. (more…)

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