Legal Information & Closing Costs
When buying an overseas property it is absolutely imperative to ensure that you are buying a safe investment, therefore at Italy Rediscovered we aim to make the buying process effortless and as part of that promise we have formed partnerships with reputable international lawyers who will help you every step of the way. We have a dedicated lawyer based in our office in Italy who is on hand to offer advice during your trip to Calabria, and will explain the buying process and be able to talk you through the legalities of your purchase. Our lawyer will also liaise with your independent international lawyer if appointed, which ensures good communication between all parties. We advise our clients to seek independent legal advice when purchasing overseas, however we do have a select few solicitors that we trust to offer you a good and effective service with a high level of customer care.
Buy Safely
- All properties are FREEHOLD.
- All new build offer a 10 Year NHBC style warrantee covering internal and external building.
- All off plan properties offer a bank-backed guarantee, ensuring that your deposit monies are 100% safe.
- Full due diligence packs for each off plan development, including planning permissions and building specification.
Purchasing Costs
Generally in Italy closing (purchasing) costs will amount to approximately 13-15% per property. Please find below a list of Italian property taxes of what to expect to pay, though this is only intended as a guide, and independent legal advice is always recommended.
International Legal Fees
International Lawyers normally charge 1% + local taxes on the property transaction, though a fixed lower fee may be able to be negotiated. We have a list of independent lawyers, which we are happy to promote and offer a excellent service to all our clients.
The Value Added Tax, or IVA
It was established in Italy by a decree Law of 1972. IVA is a tax on each transaction involving the transfer of goods or the performance of services in the producer-to-consumer process. The rate charged depends if you are a:
- Resident - to qualify as a resident of Italy, you must be registered as a resident in Italy 18 months prior to your purchase, the IVA tax will be 3% of the registered purchase price. You will be required to present a residential permit to the municipality.
- Non Resident - In the case of purchasing a second home or holiday home whereby you reside for less than six months of the year, the IVA tax amounts to 10% for a property which has a residential licence, though higher rates exist for non residential property and luxury property.
Stamp Duty (Bolli)
Stamp duty (bolli) is levied at 1% for both non-residents and residents, and gets paid to the Italian Government.
Notary Fees (Notaio's)
The notaio's fees usually amount to 2-2.5% of the declared property value.
Other Taxes
The other taxes that exist are Registry, Catastral and Estate taxes, these are nominal taxes and are fixed and amount to under €600.00 at the time of producing this document
Want more information?
If you require any further information, or if you have a specific question about the buying process in Italy, please do not hesitate to contact us.
Call us on0845 602 6972
or email us atWe'll be happy to send you a comprehensive agent pack and guide you thorough the steps of promoting the best property in Italy.
