Expert Advice

Previous Offers We previously shared news about two Italian towns, Santa Fiora in Tuscany and Rieti in Lazio, that offered financial incentives to attract people to live and work there. These initiatives aimed to rejuvenate local communities and address declining populations.

New Opportunity in Presicce-Acquarica

Last year, another Italian town, Presicce-Acquarica, launched a similar campaign, offering up to €30,000 to encourage people to relocate there. What’s the Offer? Presicce-Acquarica, located at the southern tip of Italy’s Puglia region, is offering up to €30,000 to new residents for purchasing and renovating a home. The initiative, named “Welcome to Presicce-Acquarica,” comes with specific terms and conditions: – Applicants must move their official residency to the town and commit to staying for at least 10 years. – The grant can be used to buy and renovate a home built before 1991, representing about 30% of the local properties. – The €30,000 cannot exceed 50% of the total investment in the property. While the offer is currently not available, interested individuals can monitor the municipality’s website for updates. Real Estate Costs In Presicce-Acquarica, home prices range between €50,000 and €150,000, with an average cost of around €500 per square meter. The region is known for its potential properties and beautiful landscapes. Paying Taxes in Italy New residents will be subject to Italian income tax on their global income, including salaries, capital income, and land income. Italy has double taxation agreements with many countries, including the United States, to prevent being taxed twice on the same income. Tax rates in Italy are as follows: – 23% on income up to €15,000. – 25% on income from €15,001 to €28,000. – 35% on income from €28,001 to €50,000. – 43% on income above €50,000. Additionally, regional income tax ranges from 1.23% to 3.33%, and municipal tax can be up to 0.9%. Social security contributions are around 10% for employees and 26% for the self-employed. Living in Presicce-Acquarica Presicce and Acquarica, two towns that merged in 2019, form a municipality with a population of nearly 10,000. The town has a rich history and scenic surroundings with olive groves, vineyards, and nearby Ionian and Adriatic beaches. – History and Culture: Presicce’s history involves ancient settlements and a notable period as a major olive oil producer. Acquarica is known for its castle and a chapel dedicated to St. Francis of Assisi. – Economy: Agriculture is prevalent, with crops like tomatoes, artichokes, aubergines, and wheat, alongside sheep farming. – Lifestyle: The town offers a serene lifestyle with access to beautiful beaches like Torre San Giovanni and Lido Marini, and a diet rich in fresh seafood. Italy Digital Nomad Visa For those not ready to invest in a property, Italy is also introducing a digital nomad visa (DNV). Expected to be valid for one year initially, the DNV will likely require a minimum income of €2,500 per month. This visa could be an excellent option to experience Presicce-Acquarica before making a long-term commitment. By considering these opportunities, you can enjoy the unique charm of Italian towns while benefiting from financial incentives and exploring potential new lifestyles.