Pitcher Posted February 27, 2018 Report Share Posted February 27, 2018 (edited) The world's ultra-rich have flocked to Italy after the country revealed new low tax rates for top-tier earners last year. Millionaires from Russia, Norway and the US have upped sticks looking to take advantage of the nation’s flat-rate tax of €100,000 a year. The measure lets wealthy individuals taking up residency pay a flat tax regardless of their incomeMillionaires have moved to the glamourous Italian cities of Milan (pictured) and Venice looking to take advantage of the nation's flat-rate tax of €100,000 a year, which top-tier earners pay regardless of income The bid appears to have worked with around 150 people, including some with wealth in the 'hundreds of millions,' inquiring about the measure. This was revealed by Fabrizio Pagani, head of the office of the Minister of Economy and Finance, during an interview in London, Bloomberg reports. The country has also seen an influx of millionaires from Norway and Holland as well as from the UK, Switzerland, Russia and the US. ‘We are talking about very, very rich people,' Pagani said. Countries such as Portugal have already used similar tactics to lure high-net-worth individuals from abroad, offering tax benefits. However, under the tax measure, individuals are expected to move their residencies to Italy. The influx was revealed by Fabrizio Pagani, head of the office of the Minister of Economy and Finance (pictured with his wife, Katharina Eikenberg) Many millionaires have reportedly chosen to settle in Milan, Venice and small towns around the base of the Alps, Pagani added. The number expected to take up the offer will grow 'exponentially' as was the case in Portugal, he added. The figure of '150 is a very good number for the first year,' he concluded. The scheme is part of a plan to boost the economy with investments, consumption and fresh capital and it comes as Italy struggles to accelerate its economic recovery after years of recession. Edited February 28, 2018 by Markinsa Increased Font Size 4 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted February 27, 2018 Report Share Posted February 27, 2018 Would love Italy. Been Checking it out for a few years now. Great if your retired military. 3 Quote Link to comment Share on other sites More sharing options...
King Bean Posted February 27, 2018 Report Share Posted February 27, 2018 3 minutes ago, ChuckFinley said: Would love Italy. Been Checking it out for a few years now. Great if your retired military. Definitely DO GO. Spent 2 week honeymoon there. Amazing country. Rented a car and wandered, no set plan. Can't wait to go back....with RV money soon, I hope. 3 Quote Link to comment Share on other sites More sharing options...
pokerplayer Posted February 27, 2018 Report Share Posted February 27, 2018 2 minutes ago, King Bean said: Definitely DO GO. Spent 2 week honeymoon there. Amazing country. Rented a car and wandered, no set plan. Can't wait to go back....with RV money soon, I hope. You had me hooked was soon as I got to " with RV money soon " LOL pp 1 4 Quote Link to comment Share on other sites More sharing options...
coorslite21 Posted February 27, 2018 Report Share Posted February 27, 2018 (edited) Italy is broke and filled to the brim with Islamist immigrants who are there illegally......(and who can blame them for wanting to escape ISIS.) Italy has become a welfare state.....IMO Italy is likely to be the next domino to fall in the EU/Europe failed financial experiment..... No doubt there are probably some great real estate values right now....... The intrigue and romance that was once Italy is no longer........JMO........ CL You might look at Malta....... Edited February 27, 2018 by coorslite21 1 4 Quote Link to comment Share on other sites More sharing options...
King Bean Posted February 28, 2018 Report Share Posted February 28, 2018 1 hour ago, coorslite21 said: The intrigue and romance that was once Italy is no longer....... Thanks. I guess. I suppose Iceland is out, too ?? 5 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted February 28, 2018 Report Share Posted February 28, 2018 It looks like Italy is about to become overpopulated, post RV. 2 Quote Link to comment Share on other sites More sharing options...
coorslite21 Posted February 28, 2018 Report Share Posted February 28, 2018 1 hour ago, King Bean said: Thanks. I guess. I suppose Iceland is out, too ?? Iceland would be a really "cool" place..........except for all the hot springs....!!!! 1 2 Quote Link to comment Share on other sites More sharing options...
new york kevin Posted February 28, 2018 Report Share Posted February 28, 2018 How about Costa Rica folks. You can live like a king on $1200 a month there. Plus you can buy into their socialized medicine plan and be covered for everything. Italy sounds great, but I am just saying. 1 3 Quote Link to comment Share on other sites More sharing options...
Pitcher Posted February 28, 2018 Author Report Share Posted February 28, 2018 CR is a beautiful country with friendly people. If I had to move out of the US, CR would be on my short list. As more and more expats discover this country housing has really jumped in price over the last 5 years!! I like it because you can fish in the Atlantic or the Pacific on the same day if it’s your desires. 1 4 Quote Link to comment Share on other sites More sharing options...
jmartin1145 Posted February 28, 2018 Report Share Posted February 28, 2018 Food sucks in Italy. Believe me, I was there. 1 Quote Link to comment Share on other sites More sharing options...
jeepguy Posted February 28, 2018 Report Share Posted February 28, 2018 6 hours ago, jmartin1145 said: Food sucks in Italy. Believe me, I was there. what part of Kentucky ? I am real close too Louisville ! ( ---- looking for some neat-o food places ) Quote Link to comment Share on other sites More sharing options...
jmartin1145 Posted February 28, 2018 Report Share Posted February 28, 2018 3 hours ago, jeepguy said: what part of Kentucky ? I am real close too Louisville ! ( ---- looking for some neat-o food places ) Mt. Vernon Quote Link to comment Share on other sites More sharing options...
coorslite21 Posted February 28, 2018 Report Share Posted February 28, 2018 4 hours ago, jeepguy said: what part of Kentucky ? I am real close too Louisville ! ( ---- looking for some neat-o food places ) If you like Ribs.....Momma's Mustard in Louisville is worth a try..... 2 Quote Link to comment Share on other sites More sharing options...
King Bean Posted February 28, 2018 Report Share Posted February 28, 2018 11 hours ago, jmartin1145 said: Food sucks in Italy. Believe me, I was there. Sorry to respectfully disagree. We tired back street restaurants nearly every night. No tourist traps, no hotel food. Some amazing, hand made pasta and fresh caught seafood from people who live to cook and share. Post RV, we'll spending a month there in the fall. Grape harvest and wine festivals. 4 Quote Link to comment Share on other sites More sharing options...
Wiljor Posted February 28, 2018 Report Share Posted February 28, 2018 Yep, been there 4 times, never a bad moment or a bad meal. Love the Tuscany area, great small towns and villages with spectacular home made wine. I will definitely go back 3 Quote Link to comment Share on other sites More sharing options...
King Bean Posted February 28, 2018 Report Share Posted February 28, 2018 13 hours ago, new york kevin said: How about Costa Rica folks. Definitely on 'the list'. I have heard and read many things good about ex-pats living there. At the first hint of a snow flake here, we'd be packed and headed to our tropical hideaway. Maybe see you there, Kevin. 1 Quote Link to comment Share on other sites More sharing options...
md11fr8dawg Posted February 28, 2018 Report Share Posted February 28, 2018 (edited) Hey jmarten, you must have gone to a different Italy than I did, because the food I had there was outstanding! Edited February 28, 2018 by md11fr8dawg 1 Quote Link to comment Share on other sites More sharing options...
cutter73 Posted February 28, 2018 Report Share Posted February 28, 2018 3 hours ago, coorslite21 said: If you like Ribs.....Momma's Mustard in Louisville is worth a try..... 5 hours ago, jmartin1145 said: Mt. Vernon yes it is... Quote Link to comment Share on other sites More sharing options...
Freedomwish Posted February 28, 2018 Report Share Posted February 28, 2018 I just wanna' buy a Ferrari and race that sucker out there.....one can only dream and hope the RV happens after Ramadan....(sigh!) 1 Quote Link to comment Share on other sites More sharing options...
davis411 Posted February 28, 2018 Report Share Posted February 28, 2018 6 hours ago, King Bean said: Sorry to respectfully disagree. We tired back street restaurants nearly every night. No tourist traps, no hotel food. Some amazing, hand made pasta and fresh caught seafood from people who live to cook and share. Post RV, we'll spending a month there in the fall. Grape harvest and wine festivals. When I was there loved the barn sort of restaurants barns converted fresh food great wine 1 Quote Link to comment Share on other sites More sharing options...
tigergorzow Posted February 28, 2018 Report Share Posted February 28, 2018 DV, Loved everything about my tour in Northern Italy as well as Pisa, Florence & beautiful Rome.....😊😊😊 The wine, sorbeto, food was excellent and very delicious and similar to my years in Greece as well....😁😁 Una Racia, Una Facia...😎😎 Poli Kala...😊😊 1 Quote Link to comment Share on other sites More sharing options...
Rmc10 Posted February 28, 2018 Report Share Posted February 28, 2018 I've always wanted to visit Italy. I don't know if I will ever be able to unless an RV happens. Here's to hoping it does. 2 Quote Link to comment Share on other sites More sharing options...
DinarDavo Posted February 28, 2018 Report Share Posted February 28, 2018 1 minute ago, Rmc10 said: I've always wanted to visit Italy. I don't know if I will ever be able to unless an RV happens. Here's to hoping it does. Same here Rmc10.........I read about a summer course for mable sculpting that was located near a major quarry that sounded like a lot of fun.....here's hoping as well !!! 2 Quote Link to comment Share on other sites More sharing options...
jmartin1145 Posted February 28, 2018 Report Share Posted February 28, 2018 Sounds like I went to the wrong places to eat. Quote Link to comment Share on other sites More sharing options...
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