Lifeinitaly.it 

ITALIAN MORTGAGE  SERVICE

for Non-Italians for buy , restore , refinance

residential properties , in Italy

 

 

 


SOME NOTES ABOUT BUY HOME IN ITALY 

 

>> per la pagina in lingua italiana cliccare qui <<

 

BUY PROPERTY IN ITALY AS A FOREIGNER 

 

 

Introduction

 

All information on this page is believed to be accurate , however  , i disclaim liability for any errors or omissions, and i  will not be held responsible for any direct, indirect, or consequential damages resulting from anyone's  reliance on or use of the information on this page.

 

 

PLEASE NOTE , THE UNDERLINED WORD AND PRASES 

CAN BE CLICK TO OPEN 

OTHER  PAGES  OR  DOWNLOAD  THE FILES 

 

 

PLEASE do not be 'scared' by the following complete list of  to do's : in reality, buying a property in Italy is not that much more complicated than buying one in other country  once you get started.

 

A foreign citizen who wishes to buy a property in Italy must first of all , obtain a tax identification number ( codice fiscale).  This can be requested at any government financial office or at an Italian Consulate or Embassy.

 

 

IN USA

 

> address of Italian Consular Jurisdictions in your Country <

 

 

IN OTHER COUNTRYES

 

>> address of Italian World Embassies and Consulates <<

 

 

In all countries request should be submitted 

 

with >> this form<<  

along with a photocopy of one's national passport .

 

 

 

 VERY IMPORTANT NOTE , FOR ALL MARRIED WOMAN , 

WHO BUY HOME IN ITALY  

 

According Italian law, the Codice Fiscale  is issued based on the name and surname, written in the passport. So if a woman, has a passport with the married surname (that is, that of her husband) and after buyng the house in Italy, divorces and resumes the maiden name, in the passport, his Codice Fiscale will have to be changed. From that moment on, the married woman who bought the house with the Codice Fiscale obtained with the married passport, and the woman who got the new tax code with the maiden name, FOR THE ITALIAN LAW, are two different people. So the divorced lady, can not sell the house that was bought by the married lady - because, under the Italian law, they are two different people.

 

 

>> married women should only use their maiden names <<

 

 

A Codice Fiscale is essential for:

 

  • Signing the preliminary purchase agreement ( compromesso)

  • Opening a bank account

  • Requesting bank financing, Italian Loan , Italian Mortgages 

  • Sign the final purchase deed  with the notary

  • Buy a car , motorcycle, boat, jet…

  • Arranging public utilities contracts (gas, water, electricity, phone)

  • Submitting declarations as needed to public offices ,communal, regional or state

 

 

 

If you need  an Italian Mortgage to financing  Italian property 

purchase ,  restoration , building  go to 

 

 

>> Italian Real estate Mortgages <<

 

 

 

 

BUY  THE RESIDENTIAL PROPERTY 

OR  THE  PLOT TO BUILD 

 

In order to buy a property in Italy , the first step is to sign a preliminary agreement (compromesso) , which is subsequently followed by a public sales act drawn up by a notary.

 

The >> compromesso << is a private agreement between the buyer and seller (which can be done without the help of a notary), to which the "promising" buyer and the "promising" seller (indicated as the "parties" to the contract) subscribe.  

 

This preliminary agreement will contain the following :

 

 

 

 

 

 

 

 

 

 

 

 

Notes

 

1. Both the purchaser and the seller can delegate someone to act on their behalf at the time of the preliminary purchase agreement or for the final sales act, or in both instances and also for signing an Italian Mortgage .  In this case, a   special power  of attorney  will be needed : if not in italy , issued  by a public Notary and apostilled  . If in Italy  issued by an  italian notary .

2. In case the buyer is unable to read Italian, he or she must be accompanied for both the preliminary agreement and the final act, by an interpreter registered with an Italian court, or alternatively a trusted person can be given a power of attorney to act on behalf of the buyer.

3. Payment must be made in the place and currency requested by the seller.

4. In order to simplify payments,  is recommended that the buyer to open an  bank account in Italy.  

5. If a purchaser wishes to obtain an italian  mortgage, either for the purchase or for improvements , restoration , building , refinancing or pay off another mortgage , but he/she is unable to read Italian, then he/she will need to adopt the same procedure as indicated in point 2 above.  Should he/she wish to delegate a trusted person, the text of the proxy must be provide by an italian notary and approved  by the Italian banking institution. (ATTENTION some banks do not allow this procedure)

6.  At the time of the preliminary purchase agreement, the buyer must pay the commission to the agent and/or intermediary.

7. At the time of the final sales act, the buyer will have to pay:

 

 

 

The purchasing  

"of particular historic interest buildings " 

benefits from some tax reductions :

 

 

1. Purchase taxes are reduced to 2% , even for not first houses ,  with a minimum of 1000-euro 

2. Restored buildings benefit from 10 years of exemption of the tax on the income from property (IRPEF or imposta sul reddito degli immobili).

 

 

 

All these percentages will be calculated on the 

valore catastale issued by a Ufficio del territorio 

on the property certificato catastale 

 

 

 TAXES  FOR PURCHASING ACCORDING THE  

First Home 

ITALIAN LAW

 

 NOTE : THIS TAXES  ARE NOT APPLICABLE TO PROPERTIES CADRASTALLY SCHEDULED AS A/1 - A/8 - A/9 (luxury homes)

     

    1  - If the seller is a builder  ,

 

     2 - If the seller is a private people  ,

 

 

Please note : 

 

the prima casa tax it only applies for maximum 5000 square meters around the building ,  

all more land purchased , to be pay tax of  18% 

 

 

 

IMPORTANT NOTE

 

the buyer has 18 months to transfer the residence to the first house purchased, if this does not happen, him  lose the allowance and  have to pay to the revenue agency: the difference between the transfer fees prima casa and seconda  casa  - a 30% tax on the sums paid

 

 

 

For guideline to  residence in Italy , 

Italian Tax guideline , Live in Italy 

 

>> PLEASE CLICK HERE <<

 

 

For Italian real estate taxes , Reciprocity , 

Shenghen visa request ,  

please click on the following links  :

 

  Italian Real Estate Taxes

 

  Italian Reciprocity  

 

  Application for Shenghen vis

 

 

Additional information

 

 

1. Within 48 hours of the public sales act, the seller must present in the relevant commune or in any police office, a declaration of  >>> transfer of the property<<<  indicating complete information about the buyer.

 2.  All of the pre-existing utility services (water, light, gas, telephone) must be transferred from the seller to the buyer.  Please      note that entering into new contracts is particularly costly, and therefore the transfer of existing contracts is recommended.  For this purpose is  it important to obtain copies of the previous bills paid by the seller.  The purchaser, or whoever is entrusted with the task, should go to the various public utility offices or contact them via the toll free numbers listed in the telephone directory,   communicating the full name, tax identification number, and address where the bills should be sent.  In order to obtain reduction benefits for the "First Home" it is necessary to provide a certificate the residence within 180 days  of the request for transfer of the account.

3. Within 30 days the buyer, with a copy of the final purchase act, a photocopy of his/her passport and of the tax identification number, should provide the tax office of the community concerned with:

 

             a) The declaration IMU - the value of the act to determine the tax base varies from municipality to municipality

                 we strongly encourage every buyer, to contact an accountant to fulfill this obligation. 

 

              b)  The declaration for the removal of household and urban waste.

 

Please note, for both of the above it is advisable to provide a copy of the payment bills used by the previous owner.

If the purchaser obtains a mortgage for the purchase in many cases the purchaser can detract on his/her income tax return the interest and related charges.

 

Restoration or Building

 

In order to proceed with the restoration or the construction of a building, it is necessary to obtain the services of a licensed technician (Geometra), or an Architect or a Civil Engineer.

In Italy, all types of construction or restoration works , require the presentation of a request for authorization to the towns offices , signed by the owner of the property and a licensed technician.

In order to obtain authorization to begin these works, a tax must be paid to the town offices ; it normally takes 90 working days to receive the authorization from the time the request is presented.

Only in the case of light restoration works (painting, floors, window and door frames and wiring) may the technician present a particular request called DIA, for which it will not be necessary to pay any tax and the works can initiate in a brief time period .

 

For more info about Italian's  laws to building , please click to following points , to download :

 

Note : files are in Adobe  in you don't have it, click > HERE  <

 

 

1.  All Italian Building Laws 

 

2. All Italian historic restoration laws

 

 

>> Klick here to Go back to Italy Mortgage Guideline <<

 

> Ugo-Quick-Contact <

 

 

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