How can we help
As a full service tax focussed law firm was can provide support with purchases of real estate in Italy:
Before you purchase
Advice on structure e.g.
- direct purchase as individuals
- use of Italian/offshore company
- purchase via trust
- purchase through pension fund
- best operating regime for rental business/agriturismo/B&B/hotel
Advance calculation and estimate of purchase taxes and other fees
Estimate of savings if purchasing as main residence
Checking of third party rights such as neighbours’ rights of pre-emption, rights of access, servitudes, time-acquired rights such as adverse possession, prescriptive entitlements, pre-existing mortgages and charges, and rights of third parties, especially heirs of an original owner to challenge title
Liaison with notary, geometra, architect and other professionals
Checking of status of property under planning laws, legality of modifications and planning consent amnesties
Management of risks on off-plan acquisitions/new-build, bank guarantees/performance bonds etc
Preparation of power(s) of attorney to execute documents on your behalf
Translating and going through the purchase documents in advance with you
Support with preparing for payment, opening account, escrow services (our client account or the notary’s) exchange rate management
Advice on ownership under Italian law – joint ownership v. separate ownership
Advice on purchases of bare legal ownership “nuda proprieta”, usufrutto and other interests in land
Acting as your attorney to sign documents, that we have agreed in advance, on your behalf avoiding need for a translator to be present at completion and any last minute surprises
Support with application for residence at the Comune (town hall/local authority)
After the purchase
Advice on tax residence as a result of purchase and estimate of income tax/wealth tax liabilities as a resident, international tax planning. interaction of Italian and foreign tax systems
Preparation/assistance with suppliers – geometra, architect, construction company and materials suppliers ensuring the proper contracts are in place and establishing tax treatment
Helping you to manage local property and refuse taxes
Assisting with tax compliance, reporting and payment of taxes on rental income
Help with tax deductions for property refurbishment work
Advice with succession and inheritance tax – preparation of wills/trusts – optimising your estate