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Expat Community > Italy

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Buying/Residency

5 years ago
Hello all...my wife and I are from Canada, early 60's, and are considering spending 4-5 months in Abruzzo every year. My mom's ancestral village home (uninhabitable) is for sale for 20K euro but needs at least 50K renovation...thinking about buying it but many questions...if anyone can chime in with thoughts on these questions it would be most appreciated.

Does buying a home necessarily require residency? If so, what are the implications? Would we then be required to file Italian tax returns even though we generate no income in Italy? We have received our fiscal code...is that sufficient to open a local bank account? What are the approximate closing costs on a small home purchase of 20K euro?

Thank you all

Pj

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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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Italian For A While
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