5 december, 2023<\/p>\n\n\n\n
It has already been a few years since Italy has attracted the international interest with the unique possibility to purchase a real estate for the symbolic sum of 1 euro. There are now many Italian municipalities that open calls for tenders every year which aim to counter the depopulation of small residential centers. This opportunity is particularly attractive for the foreigners who would like to own a property in some picturesque Italian village.<\/p>\n\n\n\n
How does the purchase of 1 euro property work for foreigners?<\/strong><\/p>\n\n\n\n First of all, it should be specified that the 1 euro property purchase is linked to certain obligations for the buyer.<\/p>\n\n\n\n The requirements to participate in the calls for tenders vary from Municipality to Municipality but in general they all require:<\/p>\n\n\n\n In addition, in order to proceed with the purchase of a property in Italy the foreign citizens should ask the assignment of an Italian tax code number<\/strong> which is used for the calculation and the payment of all taxes. The tax code could be requested in the country of origin or residency at the Italian Consulate or, once in Italy, at the Revenue Agency.<\/p>\n\n\n\n The 1 euro property buyers, therefore, must be aware that by making the proposal (often online) to the Italian Municipality of interest, they assume the obligation to cover all expenses as well as carrying out the renovation works within a certain period of time. Often the houses for sale are in a state of neglect and deterioration and major renovations are needed. But it is also important to know that the buyer could take advantage of specific concessions<\/strong> that the Italian state offers in case of such works.<\/p>\n\n\n\n The 1 euro property purchase procedure including the calls for tenders, the renovation works planning and the application for subsidies requires a careful examination of the necessary documents, as well as the necessary requirements for the candidates and for this reason our law firm invites the foreign citizens to consult trusted professionals to evaluate the investment even before presenting their purchase proposal.<\/p>","protected":false},"excerpt":{"rendered":" 5 december, 2023 It has already been a few years since Italy has attracted the international interest with the unique possibility to purchase a real estate for the symbolic sum of 1 euro. There are now many Italian municipalities that open calls for tenders every year which aim to counter the depopulation of small residential […]<\/p>\n","protected":false},"author":2,"featured_media":1381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\n\n