Yes, holders of the Italy Digital Nomad Visa are allowed to purchase and own property in Italy; however, property ownership does not grant residency or additional visa privileges.
The Italy Digital Nomad Visa permits non-EU citizens to reside temporarily in Italy while working remotely. While owning property in Italy is allowed under this visa, it does not impact the visa’s temporary nature or provide a pathway to residency. Below are key points to consider regarding property ownership for Digital Nomad Visa holders.
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Rights to Purchase and Own Property:
- Real Estate Investment: Digital Nomad Visa holders are free to purchase and own property in Italy, including residential and commercial real estate.
- Investment Without Residency Impact: Buying property does not extend the visa duration or affect its temporary residency status.
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No Residency or Visa Benefits:
- No Pathway to Permanent Residency: Property ownership alone does not qualify holders for permanent residency or citizenship under the Digital Nomad Visa.
- Separate Permit for Long-Term Residency: Those wishing to reside long-term in Italy must apply for a separate visa or residency permit.
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Tax Obligations for Property Owners:
- Property Taxes: Owners are responsible for Italian property taxes, including IMU (municipal property tax) and any applicable local taxes based on property location.
- Rental Income Tax: If the property is rented out, any rental income is subject to Italian income tax, even for Digital Nomad Visa holders.
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Legal and Financial Considerations:
- Consultation with Professionals: Non-EU buyers should seek guidance from real estate and tax professionals to understand Italian property regulations and tax implications.
- Financing Options: Some Italian banks offer mortgage options to foreign buyers, though terms may vary, so exploring financing options in advance is advisable.
Conclusion:
Digital Nomad Visa holders can purchase property in Italy, but ownership does not impact visa status or provide residency benefits. Those interested in real estate investment are advised to consider local regulations and tax responsibilities carefully.