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ARTICLE · 24 FEBRUARY 2017

A New Non-Dom System For HNWIs (Video)

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Italy has recently put in place a new non-dom tax system, aimed at attracting HNWIs to Italy.

ItalyTax
Giulia Cipollini
Giulia Cipollini
Giorgio Vaselli
Giorgio Vaselli
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  • Regime suited to HWNIs relocating to Italy (also Italian returnees).
  • Annual fee (€ 100,000) on foreign incomes and gains.
  • Possibility to submit the preliminary ruling as non-resident.
  • Effects on reporting obligations, inheritance/gift taxes and property taxes: conditions for more efficient wealth and succession planning.

Italy has recently put in place a new non-dom tax system, aimed at attracting HNWIs to Italy. The new rules add to the choice currently available to individuals without fixed domicile, such as the 'res-non-dom' system in the UK, Ireland, Malta, the Swiss 'forfeit' rules and the Spanish Beckham Law.

Who can apply: The Italian non-dom regime is available to HNWIs and anyone interested in moving to Italy. There is only one condition to be met: you must not have lived in Italy for the past 9 out of 10 years. You will become an Italian tax resident, and any nationality is permitted to apply, even Italian returnees.

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