Luxury properties, with flat tax demand increased by 17% in 2 months

In only two months of application, the "flat tax for foreigners" is already showing its fruit, with an increase in demand for luxury and top properties that has already risen by 17%.

The new tax law on substitute tax for foreign-produced income represents a very beneficial incentive for rich international investors transferring tax residence in Italy, and essentially consists of a flat rate of € 100,000 per year, plus € 25,000 per every family member who wants to take advantage of the same opportunity.

To be precise, the "flat tax" definition in this caseis improperly used because it is not a tax on income formed by a single rate, but it is rather a capital tax, or a fixed amount, equal to all Taxpayers.

The new foreign tax applies only to income generated abroad and is therefore very convenient for Chinese and American entrepreneurs who generate income outside Italy, but could be favored by having the tax residence with the facilitated scheme.

Even wealthy British citizens might decide to invest in the Italian brick, and Milan has already accepted the challenge and is preparing to attract anyone who will leave the UK if Brexit becomes effective.

Many North European citizens have already been interested in transferring to Italy, as well as several Italians who are historically resident abroad. The Russians do not seem to be interested, because theyalready enjoy a particularly beneficial tax regime at home.