How to buy real estate after Italian immigration?

How to buy real estate after Italian immigration

First, the need for documents.

First of all, you need to show your personal documents (copy of passport and Italian financial code) and documents related to the house you want to buy: a copy of the latest property right/purchase contract, the house plan and building permit issued by the land registration office.

You also need to provide documents to prove your income:

1, complete credit report+credit rating (average, good, excellent, etc. );

2. Personal bank statement for the past 6 months (salary/dividend has been paid from your main bank account);

3. If employed by a company limited by shares:

2 tax returns;

Copy of payroll for the past 4 months;

Letter from accountant confirming your current salary and dividend payment;

4. If you are self-employed:

Two copies of complete tax returns;

A letter issued by an accountant confirming the net value of the previous two years;

Please remember that income documents must be translated and certified. In some cases, Italian consulates can do this, or they can provide you with a list of certified translators. Another option is that some translation agencies or freelance translators in Italy also provide translation.

Second, the conditions

The Bank of Italy estimates that, in addition to other potential persistent financial debts, the average installment payment of mortgage loans should not exceed 35% of customers' net income. The same requirements apply to Italian citizens and non-Italian or non-EU citizens. In addition, if the application is approved, they must also open an Italian account with a loan credit institution and pay monthly installments by direct debit.

Three. correlative charges

Each bank has an interest rate (usually 1.00% to 1.50% of the mortgage loan amount) for the fees required for processing the application, which will be directly deducted from the amount provided, but if the application is not accepted, no fees will be charged.

Banks examine the characteristics of customers (solvency, income level, credit history), but also verify the value of related property and the compliance of the city, thus providing effective protection for operations. To this end, it hired an external technician to carry out the evaluation. The price varies according to the agreement signed between each credit institution and the consultant, with an average of 250-300 euros, which is paid directly to the consultant because he/she is not an employee of the bank.

In addition, if the new house becomes your residence, you will have to pay a one-time "replacement tax" of 0.25%, and if the new house is your second house, you will have to pay a mortgage loan of 2.00%. The money was withheld by the bank.

Further reading: introduction of Italian immigrants buying a house

I. Introduction of Italian Housing Purchase Immigration Project

Category I: Selective Residence Visa

You can't live in Italy for more than six months;

Not allowed to engage in work activities in Italy;

Free access to the Schengen area, staying no more than 90 days every six months.

Category II: 5-year Schengen visa

These two kinds of visas have one thing in common: they are both linked to real estate.

The difference between these two visas: Are you going to settle in Italy?

Second, the advantages of the Italian housing resettlement project

Advantage 1: Application advantage

1. Less investment.

2. The application period is short

3. Simple review: No proof of fund source is required.

4. No language, no education and no business background requirements.

Advantage 2: Holding advantage

1. Enjoy free public education from primary school to high school.

2. Enjoy free public hospitals.

3. Free access to Schengen countries.

Advantage 3: Investment advantage

Invest in buying a house to preserve and increase value.

Advantage 4: You can apply for permanent residence and nationality.

1. You can live, work and live freely in all countries within the framework of the European Union.

2. Enjoy equal education and social welfare treatment for citizens of all EU countries.

3. 172 visa-free countries (such as the United States, Canada, Australia, Australia, Switzerland, etc. )