BREXIT – Can I still buy in Italy?

 

Many British people have asked us what the UK leaving the EU means for those wanting to buy property in Italy.

The current situation is this – people from almost any country can buy a property in Italy, whether they are from the EU or not. There are a small number of exceptions where there is no reciprocal agreement (ie. Malaysia, Australia to some extent).

So relax, British people post Brexit will still be able to buy property in Italy.

When you buy a property in Italy now (whatever nationality you are, EU or non EU) you can buy as a resident or a non resident.

As a non resident, it is a second home, not your main residence in the world. You can rent it out of course if you wish.

As a resident, you are stating that it is your main residence, where you live for over half the year. The purchase taxes and local taxes are lower if you buy as a resident. You may be considered tax resident so buying as a non resident is simpler. (However, there are even tax breaks for high-earners to buy property and become resident in Italy Рdetails here).

EU nationals can buy as residents or non residents. Likewise, non EU nationals can buy as residents or non residents.

If you buy a house in Italy you can become resident there.

If you buy the house and are an EU national and choose to be NON resident, you can come and go as you please.

If you buy the house and are a NON EU national and choose to be a NON resident, you can stay a maximum of 180 days per year (nearly half the year of course), but only 90 days at a time.

But if staying there only 180 days per year is not enough, then choose to buy the house as a resident. You buy it as a resident then become resident in the following 18 months. If you never become resident, for whatever reason, you simply pay the difference in purchase taxes (the amount you should have paid by buying as a non resident) plus a percentage of that difference. But it’s not a criminal offence or anything serious like that.

So we can only assume that post Brexit, the situation will be the same for British people as it is for non EU buyers now, it seems very unlikely they will be discriminated against.

We can also assume that those buying in Italy pre Brexit, will not be thrown out of the country, just as those people from other EU countries in Britain now will, we assume, be allowed to stay.

Of course we can’t predict the future or guarantee that the above will be the case, there are lots of decisions to be made, but these are the facts as they stand currently for EU/non EU nationals. Other aspects – work, health etc, well, let’s wait for Theresa.

Please visit our website www.casatuscany.com to see our huge range of beautiful Italian properties and for lots of information about buying in Italy.

© Karen Roos

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