Requesting an Italian VAT identification number (Codice fiscale)
To purchase property in Italy you need a VATIN. If you are not an Italian national, you can apply for one at the Italian Consulate in your country of residence. If necessary we can put in a request for you in Italy, for which we will need some valid and signed documents.
Opening a bank account in Italy
If you do not have a bank account in Italy, it is wise to open one before you start the purchase of property. During several phases of purchasing a property you will be requested to provide cheques which must be linked to an Italian bank. We can assist you with this procedure.
Property tax and Transfer tax
Anyone who owns property in Italy must pay an annual property tax called IMU. The amount of this tax varies per municipality, but is usually between 0.5% and 0.8% of the cadastral value of the property. If the purchased property concerns a so-called prima casa (main home) the transfer tax is 2% of the cadastral value of the property. For a property to be considered a prima casa the buyer must be residing at the property within 18 months of purchase. If the purchased property is a secondo casa (second home) the transfer tax is 9% of the cadastral value of the property.