Finances Italy
Financial obligations.
The buying process for purchasing a property in Calabria is secure and straight forward and it could not be easier. We assist you throughout the entire process right up until completion, and beyond if you need us. You are guaranteed both UK and overseas contact and assistance at all times.
The system and process in Italy is practically the same as for Spain, except we advise allowing 12% of the purchase price for closing costs. The payment structure is:
- Reservation €3,000
- 50% deposit in around 4-6 weeks
- Final 50% is due on completion (less the €3,000)
- VAT/Equivalent tax currently 10% is payable on completion
- Allow another 2% for other closing costs such as Notary and Solicitor
- Euro mortgages are available on these properties; interest rate 3.5% – 3.8%
For your financial security, your deposit is held in our UK based solicitors’ client account and is 100% secure via bank guarantee.
Use online currency converters.
A London solicitor will be available to oversee the process on your behalf, together with an Italian Solicitor in Calabria, or you can select your own if you prefer.
Home in the Sun and our partner company provides a comprehensive after sales care service, totally free of charge. Our partners are a reputable and well known AIM listed plc, with a proven track record in overseas property who only work only with the top, most highly sought after builders. All the planning consents, deeds and other legal aspects are thoroughly checked by their own legal department. For your security and protection, all properties are guaranteed freehold and with debt-free deeds.
Italy currently offers tax saving benefits such as no capital gains tax, no inheritance tax and the wealth tax is a mere 0.4% of the fiscal value, which adds up to huge savings on the investment! These tax advantages make it an ideal place for investors.
