Italy Doubles Flat Tax for Wealthy Foreigners—What You Need to Know

Italy just doubled the flat tax for wealthy foreigners—find out what this means for you and what your options are. [image](=) Hi {NAME}, Italy just doubled the flat tax for wealthy foreigners. If you're considering Italy for your next move, here’s what you need to know. The Facts Italy has raised its annual flat tax for high-net-worth individuals (HNWIs) who relocate their tax residence to the country from €100,000 to €200,000. This change is part of the new Omnibus decree, which the Council of Ministers approved on August 7, 2024. What You Need to Know - Doubling the Flat Tax: The flat tax now sits at €200,000 per year, which still positions Italy as a competitive choice for HNWIs, especially compared to Switzerland and Greece. - Impact on Real Estate: The influx of wealthy individuals under this regime has driven up luxury real estate prices in cities like Milan, with a particular demand for penthouses. - Policy Effectiveness: Despite the tax regime's popularity, there hasn’t been a formal evaluation of its impact on investment in Italy. What You Can Do If Italy’s tax changes make you reconsider your options—there are other paths you can explore. Whether it's securing a more favorable tax regime elsewhere or optimizing your current strategy, having a solid plan is crucial. Why Nomad Capitalist? At Nomad Capitalist, we simplify the process of going offshore. Our approach is comprehensive, handling tax, immigration, asset protection, and investment strategy all under one roof. We make sure you’re not just compliant but strategically positioned to keep more of your money and maximize your freedom. If you want to learn more about this new Italian tax development or explore other residence and tax options, reach out to us. [LET US HELP YOU](=) In Freedom and Prosperity, The Nomad Capitalist Team = [Update Email Preferences]( | [Unsubscribe]( Nomad Capitalist Limited 2301, 23F Bayfield Building 99 Hennessy Road Wanchai Hong Kong +1 (979) 966-6623