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Who has actually retired to Italy?
Old 06-04-2020, 10:00 AM   #1
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Who has actually retired to Italy?

Perhaps even Venice? I found a number of threads of people considering it, but not someone who has. I would love to ask questions of you if you had a minute! Thanks!
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Old 06-04-2020, 10:30 AM   #2
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Old 06-05-2020, 03:09 AM   #3
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Originally Posted by palomalou View Post
Perhaps even Venice? I found a number of threads of people considering it, but not someone who has. I would love to ask questions of you if you had a minute! Thanks!

Please let us know what you find out about retirement visa requirements. Such as minimum income, or bank balance. If you can buy property or if you must have an Italian bank account and what the minimum amount is. Driving license, can you convert your state side license to an Italian one. Medical, such as private insurance requirements. How long can you stay under a retirement visa and the renewal process. What, if any, income tax you'll have to pay to the Italian gov on retirement pension/401k, IRA. Interest income etc payments from the US. How to rid yourself of a US State domicile so not to pay taxes to that state or be called upon to do jury duty etc.



I know there's a sticky thread on moving abroad, but I don't think anyone has wrote about Italy and their requirements.
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Old 06-05-2020, 05:36 AM   #4
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Please let us know what you find out about retirement visa requirements. Such as minimum income, or bank balance. If you can buy property or if you must have an Italian bank account and what the minimum amount is. Driving license, can you convert your state side license to an Italian one. Medical, such as private insurance requirements. How long can you stay under a retirement visa and the renewal process. What, if any, income tax you'll have to pay to the Italian gov on retirement pension/401k, IRA. Interest income etc payments from the US. How to rid yourself of a US State domicile so not to pay taxes to that state or be called upon to do jury duty etc.



I know there's a sticky thread on moving abroad, but I don't think anyone has wrote about Italy and their requirements.
They do have a DTA with Italy to avoid double taxation but you will still have to file and pay US taxes, taking foreign tax credits to reduce US taxes paid.

https://www.irs.gov/businesses/inter...eaty-documents

Here is a PDF of the agreement plus another pdf giving a "Technical" explanation of the agreement. Article 18 covers pensions, SS etc.

https://www.treasury.gov/resource-ce...ents/italy.pdf

https://www.treasury.gov/resource-ce...ts/teitaly.pdf
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Old 06-05-2020, 06:01 AM   #5
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We have friends who retired there nearly a decade ago with modest means and without any dual citizenship or advantages, so if there’s a will there’s a way.
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Old 06-05-2020, 07:08 AM   #6
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We've thought about this many times. Our immediate family, DSI, DBI, DN and her husband live in the mountains above Bologna, the Apennines. They are Italian. Most people speak some English, even in the small mountain villages. This link provides some information. We visit or have visited every 2-3 years over the past 35 years.

Driving in Italy can be dangerous, depending where you live. City driving...well there are very few rules of the road. I would never drive in the mountains or the cities. The roads are small, few guard rails, no shoulders and few places to pull off. Many people walk and bike on these roads. It's very dangerous and you'd need a 6th sense to manage the curves.

The valleys and countryside of Tuscany would be the place to live. Beauty and peace,
vineyards and fruit trees surround you. We just have to get our act together and go for it.

https://www.immigration-italy.com/wh...etire-in-italy
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Old 06-05-2020, 09:10 AM   #7
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Thanks—keep it Coming!

I live in NYC and don’t drive. I have a license but haven’t driven a car for over 6 years. Hate them, hence Venice. I have read some on the legal—seems it is easy for Americans to buy an apartment in Italy, reciprocal with US.
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Old 06-05-2020, 10:02 AM   #8
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We lived in Tuscany, Italy twice in 90-day increments over the past 3 years.

If you can get by without a vehicle, it should save you some money as Italians pay more for gas than almost every other European nation. Last year, we paid about €5/gallon.

We found the COL in Tuscany relative to food to be about equal to what we spend in the U.S. - although quality-wise, much better in Tuscany. Fiber-optic internet in the Chianti region was costing the homeowner about €30/month. Electricity is quite a bit more expensive than what most U.S. households would pay, a frequent complaint among many Italians.

I can't speak to what one might face in Italy the way of taxation as an expat. We did meet an expat from Oz who was able to leverage a great off-season deal on an apartment in a small hill-top town in Tuscany, paying about €500/month. Not sure what she does about housing during high-season, though.
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Old 06-05-2020, 10:34 AM   #9
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I live in NYC and don’t drive. I have a license but haven’t driven a car for over 6 years. Hate them, hence Venice.
I recommend a second floor flat - or higher.
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Old 06-05-2020, 10:41 AM   #10
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I live in NYC and don’t drive. I have a license but haven’t driven a car for over 6 years. Hate them, hence Venice. I have read some on the legal—seems it is easy for Americans to buy an apartment in Italy, reciprocal with US.
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I recommend a second floor flat - or higher.
And a canoe for getting around when it floods.
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Old 06-05-2020, 11:01 AM   #11
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And a canoe for getting around when it floods.
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Old 06-05-2020, 11:47 AM   #12
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Forgot to mention in an earlier post of mine - during our 3 month stay in Italy last year, I had an issue with a dental implant screw breaking. Our return to the U.S. was still 4 months away and rather than wait, I saw an implant specialist in Florence. The care that I received was first rate. Their office not only stayed open late to accommodate me, but the dentist also provided me his personal mobile number to call him for my follow up appts. Just for kicks I asked the office manager what they typically charge for a dental implant. €900 all inclusive.

Italian friends of ours are very satisfied with their public health system.
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Old 06-05-2020, 03:20 PM   #13
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I recommend a second floor flat - or higher.

Not a bad idea. Venice floods almost every year. It isn't uncommon to have knee deep standing water and temporary boardwalks everywhere.
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Old 06-05-2020, 04:03 PM   #14
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I have a friend from high school who moved to Italy. He met a nice Italian woman a long time ago and they got married. She did not like living here so he ended up moving to a small village north of Ancona on the Adriatic coast. He had to start all over again including learning Italian fluently and finding a job which he did. He had a hard time adjusting to the slow pace of living in a village of 800 people. People in the village called him "il gigante" (the giant). He is 6'4" in a village where most are about 5'3". When we visited him the first time after he moved, he was still adjusting to his new job and lifestyle. We saw him two years ago and was happy as ever. His two daughters were grown up and left Italy to study in the UK. He and his wife are living happily in their nice coastal home and living on rental income from their apartments.
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Old 06-06-2020, 03:06 PM   #15
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We've thought about this many times. Our immediate family, DSI, DBI, DN and her husband live in the mountains above Bologna, the Apennines. They are Italian. Most people speak some English, even in the small mountain villages. This link provides some information. We visit or have visited every 2-3 years over the past 35 years.

Driving in Italy can be dangerous, depending where you live. City driving...well there are very few rules of the road. I would never drive in the mountains or the cities. The roads are small, few guard rails, no shoulders and few places to pull off. Many people walk and bike on these roads. It's very dangerous and you'd need a 6th sense to manage the curves.

The valleys and countryside of Tuscany would be the place to live. Beauty and peace,
vineyards and fruit trees surround you. We just have to get our act together and go for it.

https://www.immigration-italy.com/wh...etire-in-italy
We found that the countryside wasn't as well served by public transit as other countries in central Europe such as Germany, so if you wan't to get out and see more of Italy than just the cities, we found a car to be very helpful. Agree that city roads can be a challenge (I had to drive in downtown Florence during rush hour for several days but survived fine). Other than a couple of mountain roads, we had no trouble driving in the countryside (even on single lane roads) or on the Autostrades.
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Old 06-06-2020, 03:18 PM   #16
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I’ve driven in Italy numerous times without any issues. I guess it depends on your personal comfort level.
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Old 06-06-2020, 03:32 PM   #17
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I’ve driven in Italy numerous times without any issues. I guess it depends on your personal comfort level.
Tailgating is Italy's national pastime. Italians also seem to fancy themselves as great drivers. I beg to differ.
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Old 06-06-2020, 06:12 PM   #18
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Tailgating is Italy's national pastime. Italians also seem to fancy themselves as great drivers. I beg to differ.

You only get tailgated if you drive too slow for the norms of the area. I had no issues driving in Italy whether it was the Autostrada or the local streets.
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Old 06-06-2020, 06:29 PM   #19
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We considered it. My husband and 2 sons are dual citizens. I found the expats in italy website useful for the paperwork/banking/visa processes. A good forum and lots of articles.

https://www.expatsinitaly.com/
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Old 06-10-2020, 08:58 PM   #20
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We have driven cars many times in Italy. All over Tuscany, Marche, etc. Never in the city though...except one time we mistakenly drove through Assisi.

Never had a problem with the other drivers. If we had an issue it would be with the poor rural road signs. The unmanned vending machine gas stations were a bit of a challenge at first until some locals showed us how to do it.
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