The most traditional way to immigrate to Italy is through the property investment immigration route, where applicants achieve their immigration goals by purchasing real estate in Italy. While the property investment immigration policy does not mandate a specific purchase price, it does impose restrictions on property size and has high requirements for non-wage income. The acquisition cost for purchasing property in Italy is not very high, but there are significant associated taxes and fees after the purchase. This article will briefly explain how much it costs to immigrate to Italy from the following aspects.
I. Minimum Costs Stipulated by Italian Immigration Requirements
The Italian Immigration Office stipulates that the size of the property purchased by the immigration applicant must be proportional to the total number of family members, ensuring at least one independent room for each child, while also meeting the minimum requirement of 22 square meters per person. Based on historical data for Italian property investment immigration applications, to ensure a higher approval rate, applicants should purchase property valued at no less than 300,000 Euros.
In addition, applicants must guarantee a minimum annual non-wage income of at least 31,000 Euros. For an accompanying spouse, this requirement increases by 20% on top of the 31,000 Euros, and for each child, it increases by 5%. If the applicant chooses the startup investment immigration route, they must invest no less than 50,000 Euros into a designated Italian startup company.
II. Costs Before and After Italian Immigration
Beyond the purchase cost of at least 300,000 Euros or the investment cost of at least 50,000 Euros, the costs of immigrating to Italy include various third-party expenses, such as application fees, documentation costs, and taxes incurred after the property purchase. If an applicant purchases a pre-owned property for 300,000 Euros, they must pay a cadastral tax of 2,310 Euros, a transfer tax of 50 Euros, and a property registration tax of 50 Euros.
If the applicant purchases a new property within 5 years of construction for 300,000 Euros, they must pay approximately 200 Euros in cadastral taxes. The stamp duty rate depends on whether it is the applicant's first property purchase. For a first property, the stamp duty is 4%, while for non-first properties, the rate is 10%. For non-first properties that are also high-end real estate, such as estates, the applicant must pay a 22% stamp duty. However, if the applicant purchases a new property that is more than 5 years old, they are exempt from stamp duty.
Additionally, except for minors, each immigration applicant must pay a tax code fee of 150 Euros. Generally, property taxes for investment immigration, in addition to stamp duty, cadastral tax, transfer tax, and property registration tax, also include the following: Property Transaction Tax (600 Euros + 4% of the property price (generally for primary residences and properties built by developers within 5 years)), Municipal Service Tax (Cadastral Income * 1.05% * 110 * Municipal Tax Rate - Deductions; for a 300,000 Euro property, this is approximately 350 Euros per year), Municipal Property Tax (0.1% of the property price), Legal Fees (1.2% of the property price), and Property Management Fees (40-90 Euros/month for a 1-bedroom apartment; 40-110 Euros/month for a 2-bedroom apartment; 50-120 Euros/month for a 3-bedroom apartment (approximately 1,200-1,400 Euros/year for new properties, and approximately 1,600-1,800 Euros/year for pre-owned properties)).