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Buying property in Italy: Fiscal and legal benefits at Lake Como
Owning a property at Lake Como is more than a lifestyle choice - for international buyers, it can also open the door to significant fiscal and legal advantages. Relocating your residence to Italy unlocks favourable tax regimes, while the right legal guidance ensures a secure, transparent purchase. Below, two trusted professionals outline what buyers should know before investing.
The flat tax for new residents
A real estate investment in Italy, on the beautiful shores of Lake Como, is not only a great opportunity: it also gives access to significant tax benefits for those looking to relocate their residence to Italy. Among these, the flat tax for so-called "new residents" is an exceptionally attractive opportunity.
How the regime works
The main advantages of this regime can be summarised as follows: instead of high proportional income taxes, the new resident pays a fixed substitutive tax of €200,000 on almost all foreign income, which does not have to be declared in Italy; there is no obligation to disclose foreign properties, assets or investments to the Italian tax authorities, preserving confidentiality and exempting them from Italian wealth taxes; donations and inheritance are fully exempt from Italian tax; the regime can be extended to family members relocating to Italy, with an even lower substitutive tax of €25,000 each; further advantages apply to those who wish to continue managing their foreign businesses from Italy; and in more complex cases, a prior ruling can be obtained from the Italian Revenue Agency, allowing decisions to be made with the certainty of a binding opinion.
In our tax advisory work, we have successfully assisted many foreign ultra-high-net-worth individuals in accessing this benefit - a regime that is stable within Italian tax law and highly competitive with similar schemes in other jurisdictions, enabling significant and even pre-agreed tax savings.
Dott. Paolo Malagoli - Chartered Accountant and Statutory Auditor // Studio Rezzonico & Malagoli
Legal benefits
Purchasing a property in Italy, in addition to being an excellent investment, also allows you to apply for an elective residence permit - provided you can prove sufficient financial means, valid health insurance and a clean criminal record. Given the tight deadlines and the precise documentation required, professional legal support is strongly advised.
What a lawyer checks before you buy
Before you buy, a lawyer verifies every legal aspect of the property, protecting your investment at each step. This careful due diligence includes verifying clear title and the absence of mortgages, easements or burdens, even in very old notarial deeds; confirming that the property complies with all local, regional and national regulations, including whether it is subject to state restrictions; and assessing any risks, such as pending disputes or unpaid charges in a condominium. Where needed, an architect works alongside the lawyer to verify cadastral and planning compliance, structural condition and energy efficiency.
Avv. Oliver Pucillo-Furer // Studio Legale - Anwaltskanzlei - Attorneys at Law