Your father didnt leave a will so, assuming that your stepmum and he were married in separation of goods, you would own 50% of your fathers 50%: If they were married in communion of goods you would own 50% of the whole property. What your stepmum is asking for as a procura is a power of attorney. This gets a bit cokplicated under the Italian succession system - as if you are not going to get what the law says you should get, you technically have to refuse your inheritance - however assuming that the succession has been done, your stepmum needs you to say that you are prepared to accept very much less than the market value of your share - otherwise the tax office will assume you have been trying to evade duties. If the succession has been done, then you cannot transfer anything - it must be sold or donated, which has ignificant costs. As the sole child, the problem is with the Tax Office as you are going to accept alotless than the paper value of the house - and your step mum needs to show them that. All said and done, why she wants a procura I dont know - It would be better to provice an affidavit saying what you are prepared to accept, and have it legalised and postilled in the UK and translated and send it to Italy, or let your stepmum have it translated there. Like most things, it isnt easy - but its more a legal letter of intent and than a power of attorney, unless your stepmum wants to act onyour beahlf - which she cannot do legally as she is also a beneficiary - so she needs to name a 3rd party who can dispose of your quota on your behalf and then you give a power of attorney to him/her again legalised and apostilled and translated.
Gaia is aboslutely right. The new US laws mean that many Italian banks are reluctant to open or run accounts for US citizens. Currency exchange companies can only move money from a named account to the named account in Italy. The Op wants to have money available while here for 4 months - there is no point opening a non resident account for a brief period - much better using cashpoints and atms, or even Western Union if push comes to shove. If the OP is planning to purchase - then arrange with your American bank a transfer that can be wired when confirmation comes through. Open a bank account where you decide to buy and have your American bank wire funds through at that point. You can get a CF when you are in Italy in 10 minutes at the local tax office.
Sorry, I didnt see anything about importing stuff. Well, that depends - as its whether its new or not. And whether you are resident in ITaly - if you are non resident you will pay.
If you have the permissions ,then they are for the pool that was in the plans and project submitted. You cant then change it, or you will have to start all over again.
The antirecylcling laws and laws on money laundering require that you open a bank account in person, and itscertainly sensible to have a bank account inItaly even its a non resident one. You can open an accoun with 50 euros, then get your IBAN and BIC/SWIFT and trasnfer the money in from abroad. If its coming in in USD as I said, you may have problems with the American end, and there are some banks whichwill not open accounts for US citizens at the moment - but as you have diual nationalisty you should be fine. You will need your CF original to open the account.
It shouldnt be difficult, you will have more problems with the IRS than in Italy. However some banks donot now open bank accounts for Americans spo you may have to shop around. Tkae your codice fiscale (the original document or your tessera) with your passports/ID to the bank - and it will be easy. If - as you are Italian - you are inscribed in the AIRE you can have a resident overseas account, otherwise presumably you will be non resident, but you can still have a debit card - (a credit card may be more difficult). For Currencies Dirext if you want to email I can send you the name and number of the person I use who will assure you the best service
Obviously there's the ''when in Rome,....' argument, but if you want to be 100% sure that what you are doing won't bring problems down the line, aAn A/10 is not a habitable space. Also you will pay 20% IVA on the purchase price, so it might not be as cheap as it looks. Also you cannot take residence in an office.
Comments posted
Your father didnt leave a will so, assuming that your stepmum and he were married in separation of goods, you would own 50% of your fathers 50%: If they were married in communion of goods you would own 50% of the whole property. What your stepmum is asking for as a procura is a power of attorney. This gets a bit cokplicated under the Italian succession system - as if you are not going to get what the law says you should get, you technically have to refuse your inheritance - however assuming that the succession has been done, your stepmum needs you to say that you are prepared to accept very much less than the market value of your share - otherwise the tax office will assume you have been trying to evade duties. If the succession has been done, then you cannot transfer anything - it must be sold or donated, which has ignificant costs. As the sole child, the problem is with the Tax Office as you are going to accept alotless than the paper value of the house - and your step mum needs to show them that. All said and done, why she wants a procura I dont know - It would be better to provice an affidavit saying what you are prepared to accept, and have it legalised and postilled in the UK and translated and send it to Italy, or let your stepmum have it translated there. Like most things, it isnt easy - but its more a legal letter of intent and than a power of attorney, unless your stepmum wants to act onyour beahlf - which she cannot do legally as she is also a beneficiary - so she needs to name a 3rd party who can dispose of your quota on your behalf and then you give a power of attorney to him/her again legalised and apostilled and translated.
Gaia is aboslutely right. The new US laws mean that many Italian banks are reluctant to open or run accounts for US citizens. Currency exchange companies can only move money from a named account to the named account in Italy. The Op wants to have money available while here for 4 months - there is no point opening a non resident account for a brief period - much better using cashpoints and atms, or even Western Union if push comes to shove. If the OP is planning to purchase - then arrange with your American bank a transfer that can be wired when confirmation comes through. Open a bank account where you decide to buy and have your American bank wire funds through at that point. You can get a CF when you are in Italy in 10 minutes at the local tax office.
IVA at 22% is payable on all services unless its a tax deductible one. Storage isnt tax deductible.
Sorry, I didnt see anything about importing stuff. Well, that depends - as its whether its new or not. And whether you are resident in ITaly - if you are non resident you will pay.
If you have the permissions ,then they are for the pool that was in the plans and project submitted. You cant then change it, or you will have to start all over again.
I think you will pay VAT/IVA anyway, and it isnt dependent on the time.
Thge agent is being economical with the truth. An A/10 is an office. It is not habitable. Thats it.
The antirecylcling laws and laws on money laundering require that you open a bank account in person, and itscertainly sensible to have a bank account inItaly even its a non resident one. You can open an accoun with 50 euros, then get your IBAN and BIC/SWIFT and trasnfer the money in from abroad. If its coming in in USD as I said, you may have problems with the American end, and there are some banks whichwill not open accounts for US citizens at the moment - but as you have diual nationalisty you should be fine. You will need your CF original to open the account.
It shouldnt be difficult, you will have more problems with the IRS than in Italy. However some banks donot now open bank accounts for Americans spo you may have to shop around. Tkae your codice fiscale (the original document or your tessera) with your passports/ID to the bank - and it will be easy. If - as you are Italian - you are inscribed in the AIRE you can have a resident overseas account, otherwise presumably you will be non resident, but you can still have a debit card - (a credit card may be more difficult). For Currencies Dirext if you want to email I can send you the name and number of the person I use who will assure you the best service
Obviously there's the ''when in Rome,....' argument, but if you want to be 100% sure that what you are doing won't bring problems down the line, aAn A/10 is not a habitable space. Also you will pay 20% IVA on the purchase price, so it might not be as cheap as it looks. Also you cannot take residence in an office.