Why You Don’t Need Another Webinar About Moving To Italy
If you have attended a well-presented webinar with elevated content about how to move to Italy, then that should give you enough input on how to start the process of relocating to Italy. I remember back in the 90s, I used to read a lot of self-help books, and I used to think I needed to read just one more to have additional information until I realized that what I really needed to do was act. The exact same strategy applies to relocating to Italy. At a certain point, you have enough information, and what you really need to do is put that information into practice and not attend another webinar that will more than likely not give you any further useful information.
Webinars, if done correctly, typically cover the same material repeatedly, and they usually break it down into three categories: immigration, real estate, and taxation. Let’s look at the action points that you can start working on today.
Immigration: To be honest, you either qualify for a visa or you do not. If you do not, which was the case with a client of mine, we worked on creating the circumstances where she could apply for an intra-company transfer. It took her five years to accomplish this goal, but she was willing to put in the time, energy, and effort to do this as she really wanted to live in Italy. Unfortunately, there is no workaround when it comes to immigration. Online, for example, people speak about visas such as the digital nomad visa as if it were a universal visa that anyone could apply for. This visa, like any other, is aimed at a very specific group of people, which is hardly ever mentioned, making it misleading. To start your journey toward moving to Italy, you need to identify the visa that you can apply for. This visa could be available now if you are lucky, or you may need to work toward qualifying for it, which may take some time. Here, you need to consider if Italy is truly where you want to be or if you should explore other European countries that offer a wider range of visas and may have a more straightforward application process. Therefore, your action point for today as a non-EU citizen should be to identify very carefully the visa that you can apply for that will allow you to relocate to Italy.
Real Estate: Many online webinars about relocating to Italy focus on buying a property in Italy for around €50,000 or less, which is fine. However, as in the case of the $1 homes that you could buy in Detroit, there is also a reason or several reasons why a home is priced cheaply in Italy. While not always the case, many of these properties require extensive renovations. They are often located in third-tier cities or remote areas, which typically offer limited or no employment opportunities for self-sustenance. For this reason, I always encourage my clients, when possible, to carry out extensive scouting trips so that they can really get to know the area where they are thinking of moving to in terms of amenities, healthcare, and any other aspect of living in a place that is important to them. Buying remotely should also be examined very carefully, as it can present very specific challenges that make relying solely on online listings, photographs, or virtual tours difficult to fully understand the property’s condition. The action point regarding real estate is to clearly identify your budget and fully understand all the costs involved. If possible, unless you can work with a professional with an incredible eye for details, try to come and scout out the area that you are interested in, along with any properties that have caught your eye. Another action point is to assemble your dream team, which will probably consist of a notary, realtor, and contractor if renovations are needed.
Taxes: Just this week, a foreigner wrote to me in total panic mode as they had received a letter from the Italian tax office requesting over €2,000 for various issues regarding their taxes. Unfortunately, they tried to manage their Italian taxes on their own, which is not always wise considering that most Italians have an accountant, even though they have no linguistic challenges and are accustomed to the tax system. Taxation is quite case-specific, so the next action point is to identify an Italian accountant who can assist you in navigating the often complex and sometimes unclear tax system in Italy. This is going to have a cost and needs to be calculated into the living costs in Italy. Your Italian accountant will keep you up to date on any changes that you need to know about, such as the recent yearly minimum cost of €2,000 for non-EU citizens who are residents of Italy and would like access to the national health service. It is important to note that in most cases, only the big four, like KPMG, can handle multiple tax jurisdictions, which means that most foreigners will have an Italian accountant and one in their home country, and these two professionals will probably interact with each other on behalf of the client. Understanding the tax ramifications of being a tax resident in Italy is a vital action point to take before moving to Italy, as having issues with the Italian tax office can be a very labor-intensive and time-intensive experience as well as unpleasant most of the time.
If your dream is to move to Italy, and once you have gathered enough information through a webinar or two on the topic, the next step is to start implementing the action points that I have mentioned above, as it is more than likely that further webinars will not add any new information. Action is key, and even if you are not in Italy now, there is a lot that you can do in terms of speaking with professionals who can make your relocation to Italy much smoother. Preparing yourself in advance so that you can hit the road running when you come on a scouting trip, or you move here permanently is vital.
To close, I would add one more action point. If you do not speak Italian, I really suggest that you do at least a 90-hour Italian course so that you can move to Italy with more confidence, determination, and focus.
Start today and make your Italian dream come true!
