'Elective visa' offers Chinese more than just a taste of Italy
For the price of a property in the country – with no minimum spend – and one visit there every six months, Chinese investors can apply for an elective visa and enjoy Italy's lifestyle, weather and culture to their hearts' content. Applicants who stay in the program for 5 years are eligible for an EU long-term permit of stay, which allows them to move freely within the European Union. An Italian passport can be issued to them after other 5 years.
These simple requirements are not without their paperwork, of course, and applicants will also have to make sure they comply with Italy's complex tax regime.
"We can help Chinese investors prepare all the supporting documentation to invest in Italy and obtain the elective visa," says Francesco Vitali, senior manager – Italy Tax Services at the Deloitte Asia Pacific International Core of Excellence (APICE).
"We have a group of Italy tax advisers in Hong Kong able to provide tax services to any company or investor who might need them, and would be very happy to meet and explain more," adds Olderigo Fantacci, managing director – Italy Tax Services, Deloitte APICE.
Watch the video and learn more about the 'elective visa' and tax issues for investors in Italy.