Moving to Sicily next year...need advice

[john2015]

Hi All, I will be moving to Sicily (Italy) in 2015 and would like some advice. I am 51 years old and will have a state pension in the amount of $28,00 annually. I also have mutual fund investments that will produce dividends of approximately $15,000. Total current income will be about $43,000 before US tax. I also have $700,000 in my retirement account which will produce a future income. My housing cost will be about 500 euro/month. Any advice on living, working and or starting a business in Sicily Italy. Comments and suggestions appreciated. (I speak Italian) Thanks,

[NYEXPAT]

Quote:

Originally Posted by john2015 Hi All, I will be moving to Sicily (Italy) in 2015 and would like some advice. I am 51 years old and will have a state pension in the amount of $28,00 annually. I also have mutual fund investments that will produce dividends of approximately $15,000. Total current income will be about $43,000 before US tax. I also have $700,000 in my retirement account which will produce a future income. My housing cost will be about 500 euro/month. Any advice on living, working and or starting a business in Sicily Italy. Comments and suggestions appreciated. (I speak Italian) Thanks,

Welcome to the forum! Italy is a beautiful country. I am not familiar with residency requirements, but most countries you are not allowed to work on an retirement visa and a business generally requires an investors visa. If you are planning to marry some young women in the future then you can negate the prior info!

[haha]

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Originally Posted by NYEXPAT Welcome to the forum! Italy is a beautiful country. I am not familiar with residency requirements, but most countries you are not allowed to work on an retirement visa and a business generally requires an investors visa. If you are planning to marry some young women in the future then you can negate the prior info!

If I were planning to marry some young woman, I don't think I'd wait for the future.
Seize the moment!

Ha

[HawkeyeNFO]

Here is what my chief told me when we were looking at moving there: If the movers ask you for a pack of cigarettes, consider buying them a carton. Otherwise, you might return to your new home one day and find everything gone. Sicily is mafia owned and operated.

[HawkeyeNFO]

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Originally Posted by NYEXPAT If you are planning to marry some young women....

This is a no go. Polygamy is frowned upon by the Roman Catholic church

[rodi]

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Originally Posted by HawkeyeNFO Here is what my chief told me when we were looking at moving there: If the movers ask you for a pack of cigarettes, consider buying them a carton. Otherwise, you might return to your new home one day and find everything gone. Sicily is mafia owned and operated.

*PARTS* of Sicily are mafia owned. But most is just fine.

What part of Sicily? My husband has family in Catania up to Riposto (south of Taormina). We love it there. Beautiful weather, friendly people, great food (different than some of the Italian regions.)

What type of visa are you going to be using? Are you a dual citizen?

As mentioned - there can be restrictions on working if you don't have a visa that allows it.

You should check out the forum ExpatsInItaly.com - they have a wealth of information about the paperwork and bureaucracy that is specific to Italy. Things like how to get a PDS (permission to work.) Getting your address verified by the officials (required), etc.

With your budget, if you live in one of the smaller, less touristic, towns, you should be ok. We looked at some of the small comunes in the south - between Modica and Siracusa. Lots of affordable housing outside the cities.

If you're going to be in the North West (Marsala to Palermo area) make sure you eat as much couscous con Pesce as you can - it's the most amazing meal, very local to that area. You can tell where the north african influence mixed with the fishing economy to create greatness.

[john2015]

Quote:

Originally Posted by rodi *PARTS* of Sicily are mafia owned. But most is just fine. What part of Sicily? My husband has family in Catania up to Riposto (south of Taormina). We love it there. Beautiful weather, friendly people, great food (different than some of the Italian regions.) What type of visa are you going to be using? Are you a dual citizen? As mentioned - there can be restrictions on working if you don't have a visa that allows it. You should check out the forum ExpatsInItaly.com - they have a wealth of information about the paperwork and bureaucracy that is specific to Italy. Things like how to get a PDS (permission to work.) Getting your address verified by the officials (required), etc. With your budget, if you live in one of the smaller, less touristic, towns, you should be ok. We looked at some of the small comunes in the south - between Modica and Siracusa. Lots of affordable housing outside the cities. If you're going to be in the North West (Marsala to Palermo area) make sure you eat as much couscous con Pesce as you can - it's the most amazing meal, very local to that area. You can tell where the north african influence mixed with the fishing economy to create greatness.

Hi rodi, I will be moving to a town just outside of Catania called Aci Castello. It has beautiful views of the seaside and is about 3 miles from downtown Catania. I plan on applying for a PDS and eventually reacquire my Italian citizenship (born in Italy) and attain dual citizenship (USA citizen). At some point my goal would be to work for a reputable company using my English language and business experience. I know finding working will be difficult, but that is my goal....The good news is that I don't need to work to live. I just want to make certain that $42K to $45K USD will be sufficient to live modestly. By the way, my marital status is single and I am not currently planning to marry "some young women" Thanks for your comment.

[gerntz]

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Originally Posted by rodi What part of Sicily? My husband has family in Catania up to Riposto (south of Taormina). We love it there. Beautiful weather, friendly people, great food (different than some of the Italian regions.)

Was just there last Fall. Lovely. But the idea of needing to get on a plane/boat to leave feels confining. Guess it's what u're used to.

[john2015]

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Originally Posted by gerntz Was just there last Fall. Lovely. But the idea of needing to get on a plane/boat to leave feels confining. Guess it's what u're used to.

Hi gerntz, I don't like flying either but unfortunately there is no other option. Thanks for your comment.

[rodi]

Quote:

Originally Posted by john2015 Hi rodi, I will be moving to a town just outside of Catania called Aci Castello. It has beautiful views of the seaside and is about 3 miles from downtown Catania. I plan on applying for a PDS and eventually reacquire my Italian citizenship (born in Italy) and attain dual citizenship (USA citizen). At some point my goal would be to work for a reputable company using my English language and business experience. I know finding working will be difficult, but that is my goal....The good news is that I don't need to work to live. I just want to make certain that $42K to $45K USD will be sufficient to live modestly. By the way, my marital status is single and I am not currently planning to marry "some young women" Thanks for your comment.

I love that coastline there of all the "aci" towns. My favorite was Aci Trezza - where "La Terra Trema" was filmed.

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Originally Posted by gerntz Was just there last Fall. Lovely. But the idea of needing to get on a plane/boat to leave feels confining. Guess it's what u're used to.

You can take a train, also. (But the train gets loaded on the ferry - so it isn't really avoiding that aspect.)

[explanade]

I just read a NY Times story that the Mafia, since the financial crisis, has expanded not only throughout Italy but into other European countries, buying up businesses in order to launder money.

Apparently they have a lot of cash and fewer ways to launder it so they buy businesses, often pizzerias and they don't worry so much about turning profits, which impacts some restaurant markets in some towns.

The other European nations are taking the threat more seriously, working with Italian authorities, which have in recent years cracked down more heavily.

Sicily is just absolutely stunning. Hope to go back again. I guess it has benefitted from a lot of renovations in recent years, particularly in Siracusa, Noto. The cathedrals look immaculate in those towns.