Have you always dreamed of retiring to Italy after working hard all your life? Packing up and retiring to an exotic location might have been a distant dream but there has been a new project that could see seniors living tax-free for up to a decade if they move to south Italy. This project has plans to repopulate areas of Sicily, Calabria and Sardinia that has been facing a steep decline in population in recent years. Retirees are encouraged to settle down there with the incentive of being exempted from taxes for a decade.
The Italian government is looking to discussing a proposal pitched by The League, the hard-Right party of the coalition that’s currently in power. The proposal requires pensioners to live for at least six months and a day in one of these three trial regions in order to qualify themselves for the tax breaks. The proposal hopes to attract 600,000 new residents.
That aside, you can’t choose to just live anywhere you like as the towns and villages that qualify for the programme must have a population of less than 4000 people and have also suffered a population decline of 20% and above in the last decade. Towns and villages are required to prove that they provide good healthcare, waste management and good parks and lighting. It is projected that average couples would be spending €20,000 to €25,000 annually in these regions, which would aid in boosting the local economy.
Retirees could see themselves enjoying the low-cost properties, excellent weather, mouth-watering delicacies and not forgetting to mention, living tax-free for ten years. The proposal is looking to appeal to foreigners to spend their retired life on a gorgeous Italian island.