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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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

15000@23%=3450

28000-15000=13000@27%=3510

55000-28000=27000@38%=10260

75000-55000=20000@41%=8200

100000-75000=25000@43%=10750

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.

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Italian TV licence annual renewal is due by 31st January 2010 for any of you that own a house in Italy with a TV in the italian property. This is know by the Italian state TV the RAI as a subscription. Visit RAI for further details and how to pay (click relevant language flag in bottom left corner). This also applies to you italian abroad still owning your house in Italy. Annual subscription 109 euros for 12 months.

ps Some of you may have searched italy TV license not Italian TV licence.

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Serpentara Sardegna Italian Island for Sale Italy 600,000 euros

island for sale sardegna

Serpentara 2 miles off the South East coast of Sardegna is for sale. Located in the province of Cagliari in the far south east corner near the town of Villasimius, see google maps.  South of Villasimius heading towards the Punta Santa Caterina is the island of Isola dei Cavoli, further east and a little north is the island of Serpentera, 2 miles off the coast of Sardegna see google maps , which translated means Serpent named after the shape of the island coast line.  134 hectares of land in Italy with 1 old building known as the La Torre di San Luigi (circa 1700), that’s Saint Luigi’s old tower / lighthouse in Italy and a 2^nd world war buncker on the coast. There is no planning permission to build your luxury Italian beachside property, nor a lovely villa set Read the rest of this entry »

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Italian Domestic Flights

www.Ryanair.com have suspended Italian domestic internal flights in Italy as from 23^rd January 2010 due to ENAC lowering the identity requirements for travellers. (click to see Ryanair press release). Some say it is Ryanair taking advantage to cut flights during the low season and in a loss period others agree further to recent international terrorism alerts. Its not clear the date when their Italian domestic flight service will start again so in the short term so what are your alternatives ??

Update 7/01/10: Ryanair italian domestic flights restored Read the rest of this entry »

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Italian Property Consultant would like to extend warm seasonal greetings to all our readers.

Whether you’re in the sun in the southern hemisphere or enjoying the snow in the northern hemisphere we wish you all a happy xmas.

Wishing you all a prosperous New Year in 2010 and home to see you in Italy…..Ciao David

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Bergamo Italy, Italian ski property.

Interesting write up in the Sunday Times about ski property and that there are signs that people are starting to choose their ski property investment in cities rather than buy a house in a ski resort. But is it a wise choice for your future rental market ?

In Italy the article mentioned Bergamo, Italy as an ideal destination. (or maybe you prefer Cervinia-Valle d’Aosta near the Matterhorn as discussed in The Independent.)

Bergamo is a traditional italian city well known for its 2 principal quarters the high town Bergamo Alta and the low town. See here Bergamo panoramic view or download various Bergamo brochures. Downtown Bergamo city centre is easily reached by flying to Bergamo airport or as it is locally know Milano Orio al Serio with airport code BGY. The airport is 15 minuts from the city centre.

There are many ski resorts within driving distance of Bergamo. View an online brochure of Bergamo ski resorts

1 hour drive due north takes you to the ski resort network of BrembanaSki and the resorts of Foppolo, San Simone, Carona, Piazzatorre, Valtorta and Avaro. The resorts are all located in the Brembana valley, Orobie Pre-Alps.

1 hour drive to north east takes you to the smaller italian ski resorts of Spiazzi di Gromo, Lizzola, Colere, Schilpario, Presolana and Monte Pora all located in the Seriana Valley.

Heading north of Lake Iseo (east of Bergamo) up Val Camonica you also can ski at Monte Campione (1.5 hours) and if you want guaranteed 4 months of winter skiing a 2 hour drive takes you to the ski resort network of AdamelloSki and the resorts of Ponte di Legno, Tonale, Temu and Presena.

So if you are a skier or a snowboarder and like snowboarding or skiing get your, ski, snowboard, skies (or is the plural skis) …don’t forget to check the snow report and ski conditions to ski in Italy.

Remember when choosing to invest in Italy and buy a house in Italy that even though as the article in the Sunday Times suggests that a city property can offer you many alternative lifestyles, that ultimately you may wish to rent property in Italy and that your target market of renters decreases if you are not in a niche market.  The cities are great if you are going to live in your italian property, but if you are going to rent it then i would personally advise you to buy your italian property close to a italian ski resort. Renters don’t want to have to travel more than 2 hours for a day skiing. Buy a property in an italian ski resort and you italian property investment will have a higher return on investment as renters can ski in/out of the italian ski property.

Moss Italian Property Consultants have various ski properties in Italy on our books from cheap italian ski property to luxury italian ski property.

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Italy Car Hire Winter snow tyres OR snow chains ?

Going skiing in Italy this winter ? Making your own way to the Italian ski property or hotel ? Hiring a car in Italy ? If you answered yes to all these then the following is advised reading about winter snow tyres and snow chains.

In the UK or Europe with recent bad snow conditions ? Need to learn how to drive in snow….though reporting from Italy this article is very relevant to everyone across Europe currently suffering from bad snow travel report.

Have you hired a car in Italy or UK with winter snow tyres ? Please post a comment to let us know where.

After a little research in Italy i have found 2 car hire firms that hire car with winter tyres. You cannot book them on line and must call and reserve and INSIST on winter tyres ONLY.  They are obviously in high demand so book early. Try AVIS  Italy on +39 091.591684 (smallest with winter tyres is LAncia Delta) OR Europcar on +39.06.96709592 or from Italy on 199.307030 (though they only have the rather expensive VW Touareg 2.5 4*4 TDI).

NB neither Hertz (+39.02.69682455) nor Sixt (+39.06.652111) offer winter tyres. They offer car hire in Italy only with Snow chains. If your not sure read below to help your decision.

I was on my way to the Italian dolomites sourcing Italian ski property and innocently just hired a car at Bergamo BGY airport and set off. Great weather, sun shining, 20’C in the last week of November…snow never crossed my mind. .. as it had been reported that recent snow falls had melted and no snow was due.

I was driving up to Arabba

arabba italian dolomites

and had a meeting in the next valley in Alto Badia. It had started raining and slowly i was climbing altitude. Just before Arabba the rain changed to fine snow. Slush started to form on the roads and i continued to climb. I drove through Arabba, going fine and turned to take the Passo Campolungo (1875m) to Corvara. 5 minutes out of Arabba the road had turned white. I was going quite slowly just to be safe and a few cars were overtaking. I started to think snow chains but i saw that the other cars didn’t have them on so i kept on going. I came to a steep climb and my wheels started slipping. I pulled up to reflect as i had still quite a climb ahead of me and yet another car overtook me still with no snow chains and then it clicked they must have winter snow tyres on.

Now back in Bergamo airport winter snow tyres Read the rest of this entry »

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Italian property – 66% rise for a property investment in Italy.

Close Tresury report that property prices in Italy increased by 30% since 2005. Together with the rise in value of the euro against sterling in the same perio of 27% makes a combined increase in the value of italian property of nearly 66% for UK sterling property investors in Italy.

This 66% rise in value of property in Italy (based on a sterling investment portfolio) only applies if you bought a house in Italy without a sterling mortgage. If you took out a  mortgage in Italy in Euros to finance your italian property investment and managed to pay your monthly italian mortgage installments from your Euro rental  income in Italy then the calculation is still valid.

Mark Taylor, head of foreign exchange with Close Treasury said: ““Even though overseas property prices tend to have fallen in the last year, in many cases the fall in the value of Sterling will have offset this, and many people may still have seen the value of their homes increase in Sterling terms.”

If you are an italian property owner and wish to liquidate your earnings please contact MIPC to sell your property in Italy, we have clients whom wish to buy a house in Italy and we are currently looking for quality italian property.

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Berlusconi italian prime minister today will face public exposure today as ex call girl D’Addraio publishes some revealing stories on Berlusconi and his sex life that took place in his italian property.
Berlusconi, italian prime minister, continues to hit the headlines unfortunately not for his politics. With an on going divorce (Veronica Lario), international gaffs (Obama tanned), corruption investigations as his legal immunity is removed (along with David Mills, estranged husband of UK minister Tessa Jowell) the latest claims that he is an italian stallion makes you wonder how does he get away with it? Even the magazine “rolling stone” in Italy have voted him “rockstar of the year”. So would you if you had seen in him action at his italian property in Sardenia.
Read more in the Independent, Telegraph.

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