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By In EU provisions, Inheritance, Inheritance Law, Italian law, Italian Property, Law, Law Firms in Italy

What is a Biotestamento (Living Will)?

The Italian Chamber of Deputies has approved the text of a bill on the so-called biotestamento (Living Will). This bill will now be debated in the BiotestamentoSenate. A Biotestamento has nothing to do with euthanasia.

Italian legislation on Biotestamento is divided into two parts: the first, more general part, deals with giving informed consent on medical treatments and on filling in DATs (disposizioni anticipate di trattamento, the Italian for anticipated instructions for treatment), through which a person may indicate wishes in relation to the medical treatments he/she intends to be subjected to when he/she is no longer conscious due to an accident or to an illness. (more…)

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By In EU provisions, Italian law, Italian Property, Law, Law Firms in Italy, Notaio, Notary, Property law

High Net Worth Individual Tax System

Italy Introduces a High Net Worth Individual Tax System

Effective from 9th March, 2017, the high net worth individual tax system, pursuant to article 24 bis of Italy’s Budget Bill is a codicil that introduces an annual €100 thousand fixed tax rate for foreigners, including High Net Worth Individual Tax SystemEU citizens, deciding to move their residence to Italy. An additional €25 thousand per annum for each of the individual’s relatives, irrespective of the level of income, is also proposed. According to the bill, for those deciding to move to Italy, benefiting from said fixed tax rate is neither an automatic right nor an obligation – it is a choice.

Individuals wishing to take advantage of the fixed tax rate, will have to file an application with the Italian tax authorities, the Agenzia delle Entrate, which will conduct investigations with the individual’s country of origin before taking a decision. (more…)

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

The New 2015 European Inheritance Rules

European Inheritance Rules

Action should be taken now to benefit from the new 2015 European Inheritance Rules. According to The European Commission some 450,000 cross-border successions occur in the EU each year, estimated to be worth in excess of €120 billion. As it stands, many countries in the EU, including Italy, have laws governing ‘forced heirships’ along with different opinions as to whether inheritance is dealt with under local law, or the law of the nationality of the deceased. To somewhat solve this confusion and prevent disputes, effective August 17th 2015 new rules will allow individuals across participating EU member states to choose which country jurisdiction will apply to the devolution of estates. (more…)

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