Can you get paid to move to Italy in 2023? Yes you can!
In a recent episode, we looked at places in the US that will pay you to move there. But the world is a big place, and if you’re up for an international move, your available options expand exponentially. Today, we take a look at your options when it comes to relocation incentives in Italy…
Five places in Italy that will pay you to move there
Relocating can come with a host of benefits, ranging from enhanced quality of life to reduced overhead costs – and even substantial tax savings.
Most countries across Europe face the dual challenge of rapid urbanization and aging populations, leading to large swathes of the continent’s rural areas becoming ghost towns.
In Spain, for example, this phenomenon is known as ‘Empty Spain’, or España Vacía. And around 53% of Spain’s municipalities are considered to be at risk of becoming depopulated.
Across the Mediterranean, Italy suffers from the exact same problem. In an effort to turn this trend around, scores of its rural hamlets are marketing themselves as “Zoom Town” destinations, in reference to the popular teleconferencing software.
AND they’re sweetening the deal with cash incentives for new permanent residents.
The advent of Digital Nomad Visas – especially in Southern Europe – will help make such a move a LOT easier. And in Italy, you can also benefit from a superb range of tax incentives that could bring your effective tax rate down into the single-digit range.
NOTE: Sovereign Confidential members have access to a range of deep-dive reports on topics like:
- The available visa programs for Italy, including options for retirees, digital nomads, and Golden Visa investors.
- ALL the most attractive tax incentives for new Italian residents (yes, you can pay as little as a single-digit tax rate).
- The top competing tax residencies and most accessible visa programs across all of Europe, and Southern Europe, in particular.
- And much, much more.
You can find out more about this class-leading internationalization product here.
But without further ado, let’s have a look at some of the most widely publicized relocation incentives available in Italy…
Five Italian towns offering attractive financial incentives for relocating there
PRESICCE, ITALY: The quaint Italian towns of Presicce in Puglia recently announced that they’ll be offering new residents €30,000 ($~32,000) to move there in 2023. (It’s situated at the “heel of the boot”, when you look at the map of Italy.)
The catch?
You have to put this money towards buying a house there that was built before 1991. You’ll also have to register there as an official, settled resident.
The specifics of the program are still being finalized, and applications will be made available on the local town hall’s website in due course.
In addition, the town’s officials are also offering financial incentives to encourage population growth, including €1,000 grants for every new baby you have there.
SARDINIA, ITALY (ISLAND): As the second largest island in the Mediterranean (Sicily is the biggest), Sardinia packs a punch in terms of sun-drenched island living. And given a sizable €15,000 (~$16,000) relocation grant for new residents who move there, the island becomes even more attractive.
To qualify for the grant, you’ll have to move to a Sardinian municipality with a population of less than 3,000 inhabitants. The grant you receive must be used to buy or renovate a home.
In addition, the grant cannot exceed 50% of the total cost of the house or renovation – and the government may not always hand over the entire €15,000 sum.
Finally, recipients must live in their new property full time, and have to register for permanent residency in Sardinia within 18 months of their arrival.
CALABRIA REGION, ITALY:
Fancy moving to a bucolic Italian hamlet with less than 2,000 residents? To combat population decline, the Calabria region – situated on the tip of the “boot” if you look at the map, northeast of Palermo – is offering new residents a relocation grant of up to €28,000 (~$30,000) over a period of three years.
That’s about $10,000 per year to help you get settled in.
Since mid-2021, at least nine villages have signed up to participate in the program, including:
ALBIDONA, CALABRIA: Situated about 7 miles inland from the Ionian Sea, and about 11 miles from the mountains of Pollino National Park, Albidona will cater to both beach and mountain lovers. And in case that doesn’t sell it well enough, it’s one of the places you can pick up a property for just €1.
SANTA SEVERINA, CALABRIA: Perched on a rocky cliff and boasting palm trees and river views, Santa Severina is surrounded by hills. The Neto river runs through it for around six miles, and the town offers a showcase of the architectural transition from the Norman period to that of the Byzantine Empire.
Sleepy? For sure. But if safety, peace and tranquility sounds like your thing, these towns can deliver in spades.
Of course, some T&Cs apply under the Calabria region’s program:
- You have to be younger than 40 years
- You have to live there full-time
- You have to commit to either starting a new business (or working within a specific profession that’s in demand there).
- And you have to move there within 90 days if you’re approved, so you’ll need to have a handle on your visa application by the time you apply for this grant…
According to the program website, around $755,000 in funding has been made available to support new residents in launching hotels, restaurants and other tourism businesses.
So if you’re young, and looking to kickstart a lifestyle business in small-town Italy, then this could be a nice way to get started…
SANTO STEFANO DI SESSANIO, ABRUZZO REGION: Santo Stefano di Sessanio needs YOU – as long as you’re aged 18-40, that is, and willing to move there for a minimum of five years.
Unlike many of the other locations mentioned here, Santo Stefano di Sessanio is not situated in the southern parts of the country. It’s more centrally situated, just northeast of Rome.
Here, the authorities there will pay new residents a maximum grant of up to €8,000 ($8,632) per year for three years, paid out monthly.
And In addition, new residents can apply for a one-time grant of up to €20,000 to start a new business in the area.
That’s a maximum total of over $44,000 over three years – which is nothing to be sneezed at…
In conclusion
At Sovereign Man we remain ever optimistic about the future. Let’s look at the upsides in the following scenario:
You’re an American remote worker, spending thousands of dollars on rent. What if you could pick up a European home for just over a dollar, and only had to spend $20,000 or so to renovate it?
Or what if you could pick up a semi-renovated property cheaply, AND get an additional $16,000 in free money to complete the project?
How much more money could you save and sock away every single month while living rent-free, working remotely, and earning hard currency?
And how much fun and adventure could you have while launching a lifestyle business in an idyllic European country location?
Also, that’s even before you benefited from the incredible tax incentives in places like Southern Italy…
Of course, these types of programs won’t work for everyone. But if you’re yearning for an exciting opportunity in a beautiful location, then Italy is standing by to deliver.
Yours in freedom,
Team Sovereign Man