The Italian Government draft 2017 Budget Law includes various measures proposed to encourage individuals to move to, and invest in, Italy. These measures will be introduced to promote Italy as an attractive destination for workers and capital.
The law will now be debated in parliament and is expected to be approved by the end of the year.
A new “residents non-domiciled” tax regime.
Extension of the special tax regime for inbound employees to the self-employed workers.
This new legislation will introduce a key change to the general principle of worldwide taxation for Italian tax residents. The new requirements suggest that an individual, who meets certain conditions, can be considered as resident but non-domiciled in Italy. Therefore taxpayers will pay usual taxes upon income generated in Italy and a single, fixed tax payment of EUR 100,000 to cover taxes due on non-Italian income. For further details regarding the “Resident non-domiciled” tax regime, please contact our immigration team.
The Budget Law will introduce a new visa in an effort to enhance investor’s opportunities and these visas will be issued without being subject to quota restrictions.
Investment of a minimum EUR 1,000,000 in the form of a charitable gift, to sustain a project of public interest in the areas of culture, education, regulation of immigration, scientific research, and recovery of cultural and environmental assets.
Demonstrate they will continue to have additional income of an amount higher than the minimum amount for an exemption from healthcare contributions (approximately EUR 8,500 per year).