A study published a little over a month ago reflected that Many American citizens choose Italy as their destination when they cannot retire in the United Statesdue to the relatively low cost and quality of life that the country offers.
According to the study, many American citizens decide to emigrate to Italy to retire, where The cost of living can be up to 45 percent lower than in the North American country.. In that sense, the website GoBankingRates reported that Italy is among the twenty countries with the most generous retirement systems in the world.
The aforementioned website points out three variables as the main advantages of moving to Italy that drive American citizens, and are on the following list:
- Hope of life: Italy ranks sixth among the countries with the highest life expectancy in the European Union.
- Fiscal benefits– Foreign citizens who decide to move to Italy could benefit from a flat 7 percent tax rate for retirees, for which you must move to a city in Sicily, Calabria, Sardinia, Campania, Basilica, Abruzzo, Molise or Apulia with less than 20,000 inhabitants.
- Quality of life: Different factors such as the mild climate, friendly communities and the possibility of visiting historical sites create a unique atmosphere in the European country.
The Sicily region is known for its tourist attraction that brings together amazing landscapes and a pleasant climate.
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How to move your residence from the United States to Italy to retire?
For establish your residence in Italy has to apply for an elective residence visa in Italy, for which you must present proof of sufficient income or assets, proof of accommodation in Italy and health insurance valid throughout the European Union.
With the mentioned visa, you must meet certain requirements and wait a certain period of time to apply for Italian citizenshipa process whose duration varies between six and eighteen months.
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