I turned on the BBC Radio 4 Today programme this morning as usual to hear the recorded message “due to rights restrictions this part of the programme is unavailable”.
Then i tried BBC Radio 5 jsut to check and i get the same message.
I am in Italy….is anyone else getting this recorded message ? or just me ?
Is this because of the Olympic opening event this eve ? or the Olympics in general…and if so how long does this restriction last ?
Anyone from the BBC please answer in comments others please answer the below question and once we have a 1000 answers/votes i will forward it to the BBC.
If you are abroad can you hear the BBC radio ?
Click Yes or NO to the question. (no need to be a registered member…this is an open public poll.)
Medieval village in Gran Sasso national park in Abruzzo for sale £485,000 / Euros 555,000 / $800,000
The small abandoned mountain village of Valle Piola consists of a church, 11 stone delapidated stone houses and 2 farmers barns. Interesting proposal for the development of a boutique village/hotel.
View more photos here at Italian Property Valle Piola.
Estimated restoration fees at 1500euros/square metre would involve a development fund of at least 2 million+.
A similar business model has been developed at Santo Stefano di Sessanio and offers unique hotel accomodation in a medieval village. Meandering in the narrow village cobbled streets, history, luxury accomodation and restaurants around every corner. I visited Santo Stefano 4 years ago when it was in the stage of development. incredabile really that a mountain village can be refurbished and turn in a tourist destination. The weather here is great in summer with sun and fresh mountain air. In winter there are ski facilities nearby.
A similar business model is also been designed by the same architect of Santo Stefano in Salemi, Sicily. Here the ruins are for sale at 1 euro and registration for a property is open at Salemi.
In Italy there are many restoration properties available. You are advised to get a qualified surveyor and fixed price construction quotes for the restoration as many restoration projects heavily run over budget.
Italian town in southern Italy is launching cheap italian property offers to attract inward investment. The mayor of the town of San Basile in North Calabria (the foot of Italy) has decided to offer the empty vacated properties to the open market. With prices starting at 5000 euros (circa 6000 dollars) you maybe tempted. San Basile is a cute village located in the Pollino national park. Local population has been decreasing as locals migrate to north Italy looking for employment. The San Basile mayor, Vincenzo Tamburini, has launched a website in Italian showing some of the properties in San BAsile. There are over 100 properties for sale. If you require further details please use the EMAIL tab above to conact us. MIPC is working in collaboration with San Basile to offer further information to international enquiries.
Here at MIPC we have proven experience of working in Southern Italy. We assist clients identify, buy and restore property in Italy. MIPC is also involved with the town of Salemi, in Sicily, where they are offering sicilian property from 1 euro. OK the property in salemi, sicily are in need of extensive work, but you do genuinally get the plot of land to build on.
Offering properties at a cheap price by the local italian council is an idea launched by the mayor of Salemi. With budget air travel into Sicily via Trapani TPS or into Calabria via Lamezia Terme for San Basile (SUF) the south of Italy is experiencing a boom in tourism. Property prices are cheap, its a great time to pick up a holiday house in Italy. MIPC can advise accordingly.
In fact there are many towns in southern Italy where you can buy a bargain property to restore. MIPC run an Italian construction firm in southern Italy, where we restore italian property, build holiday villas in Italy, we speak English and Italian and have hands on local expereince. MIPC will offer you a free consultation for your restoration project in Italy.
For further details regarding San BAsile email MIPC using the EMAIL tab above. San Basile, Calabria property.
Italian Limited company SRL
Further to recent investigations regarding using a UK limited liability company with registered branches in Italy or setting up an independent Italian corporate identity i would like to further discuss the Italian limited liability company known in Italy as SRL (Società a responsabilità limitata), literally translated as “company with limited responsibility.” And similar to a UK ltd company.
For those of you considering DIY restoration of your Italian property, there are certain options. Read the rest of this entry »
I am doing some research into opening an Italian branch of a UK Ltd business. The italian branch will operate locally and employ italians. A new SRL (italian limited company) is 1 obvious option but I am interested to hear if anyone has used ONLY their UK Ltd company corporate structure to operate in Italy and con share their experience about either of the following italian solutions a) opened a “sedi secondarie” a full secondary head office which should be registered in the “Registre Imprese” Camera di Commercio (Italian Chambers of Commerce) OR b) opened a “unità locali” like a small office which only needs registering at the “REA Repertorio economico e amministrativo” (sub category of “Registre Imprese”).
Please outline :
A: Difference between a) or b).
B: Costs of solution a) or b).
C: Benefits : tax& operational of a) and/or b) compared to the SRL option
Please focus on the corporate structure and tax issues. This is not a question about employment in italy or INPS or INAIL in Italy.
Income Tax Italy IRPEF
I was just advising some clients about income tax on the rental income for thier italian property and thought you may wish to know the personal income tax rates in italy, locally know as IRPEF
There is no tax free income. The following is for income raised during the financial year 2009 upto 31/12/09. In Italy the tax year is the same as the calender year.Tax returns on the Mod 1 due 31.5.10.
First 15,000 euros taxed at 23%
Further income from 15000 – 28000 taxed at 27%
Further income from 28000 – 55,000 taxed at 38%
Further income from 55000 – 75000 taxed at 41%
Anything above 75000 taxed at 43%
So an income in Italy of 100,000 euros would result in an italian tax bill of
For a total tax bill of 3450+3510+10260+8200+10750=36170
Thats 36.1% italy income tax IRPEF on a 100,000 italian income…How does that rate to your countries income tax rate…post comments to let us know.
A property in Italy is given a rateable value by the Ufficio di Entrate (tax office) called valore catastale. It is important when you buy a house in Italy to be informed of the rateable value as some of the notary fee is based on this value. If you do a property search requesting the visure catastale the rentable value rendita catastale will be declared. Multiply the rendita catastale by 126 to calculate the valore catastale.
In some cases often in the south of Italy the valore catastale (rateable value) can be higher than the actual market value. Be careful as the notary will declare both values and any large difference may attract an italian finance police (la finanza) investigation. What you believe a bargain the finanza may believe you were purposely understating the value of the property thus tax avoidance by assisting the seller to avoid higher capital gains tax.
To avoid this you can request a perito quantity surveyor to officially value the property and produce a report called relazione di perito where the quantity surveyor swears in front of a judge his valuation of the property. Give this copy to the notary and ensure he makes reference to it in the atto di vendita final purchase deed.
This means you will pay lower notary fees “purchase taxes” and not be accused of tax avoidance.
Of course if the market value is higher than the catastal value then you don’t need to worry about this issue.
The above is an extract from the MIPC “Italian Property Consultant” ebook. Subscribe to our newsletter to receive similar italian property news.
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If you plan to buy a property in Italy always engage a professional Italian Property Consultant.
Italy Bank account
How to open a bank current account in Italy
About to buy a property in Italy and you are a non resident Italian then you will need to open an Italian bank current account in Euros.
Why do I need specifically an Italian bank account?
With an Italian current account you could obtain a mortgage to purchase the Italian property, pay the vendor and after the purchase pay bills and Italian taxes.
1) Current account and mortgage
Some Italian banks dedicate services to no resident citizens to help them to buy a property in Italy. Read the rest of this entry »