Suddenly there is a new forum and lots of new members appear from nowhere asking really useful questions! it's almost as if someone somewhere is trying to make the new site justifuy its existence. Which is nice.
Ram's activity
Questions Asked
One for Charlotte - i have an American client, executor of his fathers estate who says that under the Uniform International Wills Act he can deal with the Italian succession of his American/Italian father.
Wed, 01/23/2013 - 06:36
Thu, 05/10/2012 - 13:28
'Tourists' in ITaly have now got a deroga from the government allowing them to buy stuff that costs more than 1000 euros with cash.
Wed, 02/22/2012 - 03:22
There is a hugely important element to the manovra published yesterday. For people who took residence in Italy to get prima casa, but dont actually live here...From 2012 you will pay 7/1000 on the value of any property owned OUTSIDE ITaly.
Thu, 12/15/2011 - 02:52
oops apologies - going blind in my old age
Thu, 12/02/2010 - 03:55
So the Nationwide has introduced bank charges - £1 fee and 2% commission on every withdrawal via ATM abroad - Im gutted. But, I had no advance warning and am also deeply annoyed. Anyone else in the same boat?
Thu, 11/18/2010 - 03:54
Somewhat open mouthed to see a large ad for Giambrone on the front page of the Italy Mag website.
Sat, 11/06/2010 - 04:04
Does anyone have any info on the scudo fiscale. It seems that the new version is not only retroactive, but anyone bringing money into Italy could be liable for 5% tax if they are resident.
Tue, 01/05/2010 - 13:05
The disaster in the province of Messina goes to prove the instability and 'eyes wide shut' approach to living in Italy.
Mon, 10/05/2009 - 04:04
Comments posted
If you are moving money to or from another EU country there is no problem at all. It is cash that is limited. If you are bringing it in from a 'safe haven' you may get stung with the scudo fiscale which allows the government to take 5% but its all so vague and no-one really knows what the law is if you are not resident. As long as money comes in and out via a bank account, it allows the powers that be to keep tabs on you should they want to.
The law is technically in force, even though not yet passed by parliament. The laws on antirecycling mean that any movement of money over 5000 euros must be made by traceable means - non transferable cheque or bonifico, and banks must notify the Guardia for any movement over this amount, (instead of the 12500 previously). Any bill over 3000 euros must now have a telematic fattura - the idea is that it will be certified email. The amount of cash you can bring in and take out of Italyremains at 10,000 euros.
I think your agent is covering all her bases. There area miriad of fines and penalties available to the tax office for late payments and so on. If you didnt succeed in getting your residence within the 18 months, and you put your hands up and go to pay the difference, i dont think they'd charge you. if on the other hand the taxman investigates you and discovers that you tried it on as tax evasion he may well decide to fine you as well as ask for his money. I have a client in this position at the moment, and I have told them to own up and go to the tax office just before the 18 months is up and offer to pay. I will know next week what the outcome was, but will ask my notaio on Monday and let you know what he says. 10% of the price paid seems absurd, it must be on the catastal value, and I have never heard of anyone being hit with a fine.
You might have a problem finding a long term lease at the seaaside. What you will be looking for is a standard 4+4 contract, 4 years automatically renewable for another 4. These properties are unfurnished, and what is termed 'ordinary' maintenenace is at the charge of the lessee. However, most omes by the sea are second homes that the owners want to use in the summer, so are usually let only off season, or for pots of money in the summer. However, try the big italian (bilingual) sites like www.immobiliare.it, and www.casa.it There is also a new franchise chain that deals only with lets called www.soloaffitti.it Otherwise your best bet when you are next there is put the word out that you are looking for a long term let, and buy the local paper. It may be that someone in Sorrento can help.
Charlotte - when you say that a donation can be challenged by heirs after the death of the donor - is there a time limit? eg - if the donor dies within 7 years of the donation, or is it possible to challenge a donation 20 years after the event? Thanks Ramsay
send me a pm letting me know what you want, how many beds etc, ideal world-- and Ill see what I can do.
Since 1 July, it is now technically possible to not be present in the notaios office for these things. If you choose a notaio in your home country - (a public notary) all of this can be done vi a computer link, where the original notaio takes half the fee and the notaio where you are taking the other half. of course this all depends on how 21st century your notaio in ITaly is. In my experience in Sicily, they cant even turn on a computer let alone use it. However, the government has now decided that technology should take its place in the notaios office, so there will be some, if slow, progress. Re the power of attorney - as far as I know, and Charlotte will correct me if Im wrong, its perfectly permissible to give a power of attorney to act on your behalf. If you grant one in the UK it must be translated, stamped and franked and postillo'd and the original transported to Italy to present to the notaio.
The only way to make a straightforward transfer is for your co-owners to donate the property to you. This has all the taxes and expenses of a normal sale, and must be stipulated in front of a notaio. Go back to your original notaio and ask him how much it will cost.
unfortunately there is no such in Italy as uncomplicated. You bought a house 50/50 but the law says it is 50/25/25if you brother is married in communion of goods. The only way you can sort it out is to buy your brother and sister in law out, witha formal act of sale and all the consequent costs and taxes, or have them donate their half to you (with all the consequent costs and taxes). They cannot just sign it over.
You can usually find winter lets near the sea at very competitive rates in Sicily - or do you want be in town?