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 »

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Italian mortgage for the purchase of a property in Italy is available to non resident citizens with Barclays Bank. A maximum of 70% LTV is available.

Italian property in need of restoration can also attract finance with an Italian Restoration mortgage for a maximum of the higher between 70% of the restored house’s value or 70% of the restoration costs.

If you plan to buy a house in Italy and you require further information on current fixed/variable mortgage rates email MIPC for our Italian mortgage datasheet.

Yesterday the British bank Barclays made an improved offer of 540 million euros (804.6 million dollars) for 135 branches of Italian Banca Monte dei Paschi di Siena (BMPS).

This expansion by Barclays despite the crisis saw Barclays offer about four million euros per branch office, an increase from 2.5 million euros proposed a year ago.

Barclays is unusual among European banks in that it is expanding. Last year it picked up cheaply the North American activities of failed US investment banking giant Lehman Brothers and now appears particularly interested in southern Europe.

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Trapani Airport TPS Sicily

Trapani airport (TPS) is fastly expanding and becoming the gateway to south west sicily, Trapani, Marsala, Salemi, Scopello, Segesta and the Egadi Islands. Historically a military airport. With Ryanair operating flights from here since last year, the airport has transformed Read the rest of this entry »

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Fiat General Motors (GM) Europe, UK Vauxhall, Opel.

First Fiat last week announced the takeover at Chrysler….Now in a dramatic weekend of negotiations yesterday the Fiat (Italy) chairman Luca Corderodi di Montezemolo announced that Fiat is in negotiations with General Motors (Europe) the owners of Opel (Germany) and Vauxhall (UK) and Saab (Sweden) with the intentions Read the rest of this entry »

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The Italian government on Friday 6/2/09 made a major intervention into the Italian Economy. Italy as everywhere else is struggling through the global crisis and finally Berlusconi’s government have made positive moves forward to assist the economy in Italy.  17.8 billion euros allocated  to funding for a major public works program.

The package was approved by the cabinet after it received a go-ahead from the interministerial economic committee Cipe earlier in the day.

Funding for the program is a mix of public and private resources, with infrastructure projects in southern Italy, including the Messina bridge linking Sicily to Reggio Calabria on the mainland, receiving some 49% of the public cash. A project that has been on the pipeline for years approved in 2003, cancelled by Prodi in 2006 and now lets hope will go ahead. Concerns over the involvment of the Mafia Read the rest of this entry »

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Italy Politics:

If you would like to read a brief introduction into Italian politics and particularly the recent political background that has positioned Italy into the 21st century and in the Eurozone I recommend you to read this book review in the London Review of books on  2 book on Italy politics by Perry Anderson.

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The Italian automobile car industry. Surviving the recession.

Last year 2008 Italy appeared to be surviving the global recession. Life continued as normal with only a few cut backs over xmas. No Italian banks have gone bankrupt, Italian mortgage interest rate was capped at 4% for variable interest rate Italian mortgages.

The air has changed since the start of 2009. The global automobile recession has now arrived in Italy. The industry contributes 11.5% to the Italian GDP Read the rest of this entry »

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Italy is in a lot better situation than many other countries, the bank system has held the financial tsunami and not a single bank has been recorded to be gone bankrupt. This s not only due to the tight method to issue mortgages hat Italian banks have always adopted but it’s mainly due to the good habit of the Italians of not getting into debt. The average debt value of Italians has increased in the last years but still doesn’t reach 50% of the available income whereas in the rest of Europe is about 100% with peaks in the UK of 160%.

Property prices in Italy haven’t drastically dropped and experts say that the prices will hold but still in this tough period you could easily find a really good deal from some seller who needs to sell his house quickly and this can only make Italy even more attractive for property investors.

Now you know the answer, buying a property in Italy is the best choice if you want to invest in a home overseas and this without even mentioning the climate, the food, the landscape and that you would love to use your investment to enjoy your holidays.

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I came across some interesting pension news this week for those buying property in Italy. A lot of Britons are thoroughly fed up with the country – too expensive, too crime ridden, too wet and too hard to make the most of our hard-earned pension. So news this week that Britons retiring abroad and those who wish to buy a property in Italy can take their pensions with them, will certainly be exciting some interest.

400,000 of us move abroad each year, and new rules allow us to move our pensions offshore too. The scheme you’re looking for is a Qualifying Registered Overseas Pension Scheme (QROPS). Move your money Read the rest of this entry »

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Does anyone know when this first happened ?
Yesterday flying with Ryanair they announced that the inboard price list is not valid. Due to recent devaluation of sterling only the Euro prices on the inboard list are now valid and if you want to pay in sterling the exchange rate was 1 euro = 1 sterling.
Maybe Ryanair were the pioneer of the 1 sterling = 1 euro as it is over 12 months that his £10 sterling flights could be bought in Euroland for 10 Euros.!!!
Thank you to Ryanair for their cheap travel it makes buying a property in Italy so easy.

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