Are you planning to retire in Italy and want to make sure everything goes smoother? Well, there are tons of things that need to be taken seriously before reaching a decision. Most people don’t think much at a young age that hurts things greatly after retirement.
If you want to retire in Italy, we suggest you to sort out everything and make things enjoyable at the later age. Let’s look at the few important tips that will help you have a wonderful retirement in Italy!
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Taxes on Pensions in Italy
There is a great confusion in the mind of people about whether pension will be taxed in Italy or not. According to the International Convention on Double Taxation, the allowances can only be taxed in the country where it is issued.
If someone has retired in the United States and moved to Italy, there won’t be any tax on their income in Italy. The thing we want to say is an American pension can only be taxed in the United States. It means your pension from other countries won’t be taxed in Italy.
There is no way someone looking to retire in Italy can miss what kind of healthcare facilities this country has for old-age people. An individual is fully able to access the National Health Scheme after receiving the residency permit, irrespective of their home country.
The process is very simple for registration as the person has to connect with the local health authority. It will help get a personal health number to allow the individual to access all the government healthcare facilities. Although government facilities are quite good in this country, it is still suggested to go for private health insurance to face any health trouble later on.
Cost of Living
It is very important to understand the cost of living if someone is planning to retire in Italy. There are many websites like retire2italy for getting such information that can be very useful for people looking to relocate.
There are lots of extra costs and taxes that need to be evaluated carefully. Having a proper research can be very critical to settling down in this country. Also, please one thing in mind that the living cost varies from one city to another.
An incredible thing about Italy is the citizens of the European Union don’t require any visa for settling down in this country. However, there is a need to register with the local authorities for getting residency in this country. If you are from a country that isn’t part of the European Union, there is a need to follow the required process for getting citizenship.
There is a specific process that foreigners have to follow while getting a residency permit in Italy. If you want to get any information regarding visa requirements, we suggest visiting the official website of the Italian embassy.
The amount of money you need for settling down depends on the area of the country. The north part of this country is costly, while the south portion seems to be affordable for sure. Most people thought about dreaming of big cities like Rome or Milan, but they don’t know these cities cost too much to the countries.
It is important to go through the money you have for setting down before retiring in Italy. Most people don’t check these statistics, but it hurts things later on that should be avoided at any cost. If you aren’t sure which city to choose, check out the relative platform to get the required information.
There are tons of things that need to be taken seriously to retire in Italy. We have explained everything that an average person should check before settling down in this beautiful country. If you have any queries regarding retiring in Italy, please write about it in the comment section.