The Italian legal system is very different from the English, Scottish and Irish ones. You will, no doubt, have heard of cases where buyers have suffered loss on foreign property. They may then find there is no title to the property, that it was built without planning permission. . . or that it does not even exist! Unfortunately, very often people purchasing property abroad take little or no local advice and are indeed quite "casual" about the purchase and about the signing of legal documents.
It sounds more daunting than it really is and there is absolutely no reason why this should happen to you, provided that you follow our professional advice and guidance. We work in a different way than most companies in Italy by uniquely making the necessary preliminary checks and enquiries prior to putting our properties on the market. Thus there is no more need to worry about buying a house through us than about buying one in the UK, Ireland or North America. Remember, we are not lawyers and nothing on this site is intended as legal advice.
Upon arrival, our guide will then take you to see the latest houses we have on offer based on your choice.


Once you have found the ideal property
During a personal meeting at our office, the whole conveyancing process will be explained and clarified so you will understand the procedures and costs. There are basically three steps that need to take place:-
1. Option +Deposit (Opzione or Impegnativa d’acquisto)
2. Preliminary Contract (Compromesso di Vendita or Contratto Preliminare)
3. Final Contract (Il Rogito Notarile)


Option + Deposit
So you like it. You've found the Italian home of your dreams. A deposit of € 1,500-5,000 puts you in play – refundable only if the vendor decides not to sell, or if there are technical problems. You state the price you prepared to pay and the conditions of payment. The deposit agreement expresses the purchaser’s intent to buy and requires the vendor does not show the property to others.
Documents, please All you need is a passport and, for married women, copies of birth/wedding certificate with your maiden name. (Under Italian law purchases such as cars and houses are always in a woman's maiden name.) These documents let you apply to your "Codice Fiscale" -- your Italian tax number. You also get a smart "codice fiscale" card that comes in handy when you least expect it. For example, any situation that would require your social security number here, like opening your Italian bank account. (Yes, you should have one). We will assist you in obtaining these when you are with us in Italy.


Preliminary Contract
The Preliminary Agreement is the single most important document, being a binding legal document that obliges the parties involved to complete the purchase at some future specified date at the offices of a local Notary Public. The purchaser will be asked to pay a caparra (deposit) of 10-30% of the sale price. If you withdraw after signing the Preliminary Contract you will lose your deposit. The vendor can also withdraw but will be obliged to pay the buyer double the deposit as penalty. However, when completion is duly made, the deposit will be considered as a down payment on the sale price.


Final Contract
Typically 2-4 months after the Primary Contract. In Italy, completion has to be formalised by a Notary Public who draws up the Sale Deed, registers it at the Land Registry and pays all taxes and duties on behalf of the purchaser. You may attend the closing and, if you don't speak Italian, the deed will be translated. Or you may send a power of attorney notarised by an Italian consulate near you along with the balance of the purchase price.


Click here to download conveyancing details in PDF format


In whose name should you purchase the property?
There are a number of ways to purchase the property:
- in your own name;
- in the joint names of you and your wife or co-purchaser(s);
- in your children's names or in the name of somebody who will eventually inherit the property from you;
- in the name of a limited company, whether English, Scottish, Irish, US, Canadian, Italian or "off-shore".

Each method has its own advantages and disadvantages. Everything depends on your own personal circumstances. We shall be pleased to discuss the various ways of buying and to advise as to the most advantageous method for you.


Inheritance Tax
These tax savings arise because of the Italian system of inheritance tax under which - although they are presently often tax free - gifts on death could until recently still attract very high rates of taxation. There is of course always the risk that Italian inheritance tax could at some point be reintroduced. If you remain a UK resident, proposed UK Pension Legislation due to come in force as of April 2006 is expected to enable one to place ones UK and foreign properties into ones pension plan, thus becoming very tax efficient. Careful planning of your inheritance can dramatically reduce the tax payable and our UK financial advisor can guide you with this.

The tax savings also arise because of the way that each time a property changes hands, certain taxes and fees become payable. If you can minimise the number of times it changes hands, you can greatly reduce your tax liabilities.

As always, with tax savings schemes there is a danger that the Government can close the loopholes that allow the schemes to operate and, as always, there are disadvantages to them as well as advantages. In each individual case, you will have to weigh up the advantages and the disadvantages and decide how you wish to deal with the transaction.


Agricultural Land
Agricultural land is levied 20% tax, but when the agricultural land is purchased by a farmer and is used for farming, the tax is reduced to 2% (these percentages are calculated on the values specified in the final contract). Note – this tax is applied on the value registered at the catasto which is the government assessed value for tax purposes, and is normally quite a bit lower than the purchase value.


Declared Value
In Italy, each property has a "statutory value" (valore catastale), which is usually much lower than the real purchase value - sometimes 50% less. There is a significant difference between these two values. At the closing, you'll pay 10% of the "statutory value" as a registration tax. The Land and Building registry office in the region assign a value for each property (valore catastale). The value set by the registry office (catasto) is the minimum you can declare in the Notaries Deed.


Residency (citizens) from non-EU countries