I love Italy! It’s probably one of my favorite countries in Europe. It offers so much: history, art, food, fashion 😍 100k doesn’t seem to crazy if you’re making millions. This is an awesome option for some people!
Thanks for another super informative video. Your content is really good. I know you covered most of the Caribbean CBI programs but I've love to hear your take on Antigua in detail. You've mentioned it in passing only in your other videos. Thanks, keep up the great work.
Can you make a video about non-habitual resident of Portugal. Is there an exception in tax for first 5 years for "qualified shareholdings" (if you own above certain percentage of a private company or public company) in non-habitual residency in Portugal?
Depending on the part of Italy one chooses, is the 30% or 10% flat tax for newcomers applicable for crypto capital gains/ trades/ and passive income (staking) as a crypto self-employed ?
Do you have to pay tax on foreign capital gains under this flat tax regime? For example, if someone sold bitcoin with profit in an offshore exchange, does he need to pay capital gains tax? If someone sell stocks/shares with profits of foreign company in foreign stock exchange, does he need to pay capital gains tax? Does someone need to pay tax on foreign companies dividends? Thanks.
It's generally not considered foreign based on the exchange. Usually sale of securities is considered sourced where you are, this being said there are some particular rules in this regime that has a bunch of exceptions. You could always put it through foreign company and take dividends though.
I'm confused of what someone does if they might have a portfolio of millions but it only generates 65k a year in dividends.. Does Italy want to see all your assets and yearly income?
Thanks Mike. If one lives in Italy, would income from day trading US futures be classified as foreign source income, and hence be considered part of this flat tax bucket? Thanks.
@@OffshoreCitizenExcellent. That's wonderful to know. I may need your help Mike to flesh out my plans in detail. Will reach out to you once I'm ready :)
@@FrozenSkyy it also depends on where you bank . Are you trading via a company or individual ? What is your current country of residence . I am also a day trader trading emini .
I think this begs the question... how do other countries flat tax regimes compare with Italy's for day traders and others? Can you trade US/UK markets and work in e.g. Switzerland etc
@@villagerintheshire Great question. Re: Switzerland I understand that the flat tax regime doesn't work for active day traders living in Switzerland (while trading US futures on CME). They will regard that as active work being done in Switzerland, which is not permitted under their flat tax regime. Work performed outside Switzerland is allowed. I'm still debating as to which of these two jurisdictions will work better for an active day trader: Italy or Cyprus?
If you are a trader who incorporates in a different location and apply for local residence you can get one and pay taxes to Italian government only doe that work ?
I love Italy! It’s probably one of my favorite countries in Europe. It offers so much: history, art, food, fashion 😍
100k doesn’t seem to crazy if you’re making millions. This is an awesome option for some people!
Literally JUST thinking about this!
I must admit... no interest in living in Italy but gave it a like for your efforts - only fair if you spend your days making videos for us.
@@carefulhedger9391 My heart lies in both Portugal & Malaysia.
Thanks for another super informative video. Your content is really good. I know you covered most of the Caribbean CBI programs but I've love to hear your take on Antigua in detail. You've mentioned it in passing only in your other videos. Thanks, keep up the great work.
Thank you! Will certainly do!
Yeah Antigua and St Lucia are coming soon.
Well done Italy!
Can you make a video about non-habitual resident of Portugal. Is there an exception in tax for first 5 years for "qualified shareholdings" (if you own above certain percentage of a private company or public company) in non-habitual residency in Portugal?
th-cam.com/video/dOcz39t4Nw8/w-d-xo.html
I watched it, thanks!
Good stuff Mike
Thank you!
Depending on the part of Italy one chooses, is the 30% or 10% flat tax for newcomers applicable for crypto capital gains/ trades/ and passive income (staking) as a crypto self-employed ?
No, though you could possibly use a structure to change it to that...maybe
What about the social welfair in Italy? if you have your business based in Italy you pay up to 43% taxes from social welfair payments alone
Do you have to pay tax on foreign capital gains under this flat tax regime? For example, if someone sold bitcoin with profit in an offshore exchange, does he need to pay capital gains tax? If someone sell stocks/shares with profits of foreign company in foreign stock exchange, does he need to pay capital gains tax? Does someone need to pay tax on foreign companies dividends?
Thanks.
It's generally not considered foreign based on the exchange. Usually sale of securities is considered sourced where you are, this being said there are some particular rules in this regime that has a bunch of exceptions. You could always put it through foreign company and take dividends though.
@@MichaelRosmer Thanks!
If they manage to have rule keeping this permanently this will be huge
Yes!
Is Italy an option for you?
@@OffshoreCitizen yes
I'm confused of what someone does if they might have a portfolio of millions but it only generates 65k a year in dividends.. Does Italy want to see all your assets and yearly income?
What if you trade crypto , will that be considered foreign income?
Is this also for EU citizens moving to Italy?
Yes
What happens after 15 years can we continue flat tax or should we leave ??
Once the flat tax expires you're subject to the regular tax rules
Thanks Mike. Quick question due to my income mostly coming from the USA. Would I Qualify for the flat tax rate once I become a tax Italian resident?
Probably but we'd need to look at it in detail. Best is to send us a message through www.offshorecitizen.net
Thanks! Has it explicitly been confirmed that capital gains (and perhaps staking income too) from cryptocurrencies would qualify for the program?
Thanks Mike. If one lives in Italy, would income from day trading US futures be classified as foreign source income, and hence be considered part of this flat tax bucket? Thanks.
You're welcome!
Yes, it would
@@OffshoreCitizenExcellent. That's wonderful to know. I may need your help Mike to flesh out my plans in detail. Will reach out to you once I'm ready :)
@@FrozenSkyy it also depends on where you bank . Are you trading via a company or individual ? What is your current country of residence . I am also a day trader trading emini .
I think this begs the question... how do other countries flat tax regimes compare with Italy's for day traders and others? Can you trade US/UK markets and work in e.g. Switzerland etc
@@villagerintheshire Great question.
Re: Switzerland I understand that the flat tax regime doesn't work for active day traders living in Switzerland (while trading US futures on CME). They will regard that as active work being done in Switzerland, which is not permitted under their flat tax regime. Work performed outside Switzerland is allowed.
I'm still debating as to which of these two jurisdictions will work better for an active day trader: Italy or Cyprus?
It is $200k euros now.
Yes we've made a new video about that
That’s exactly how Juventus FC managed to pay Cristiano Ronaldo 😄
If you are a trader who incorporates in a different location and apply for local residence you can get one and pay taxes to Italian government only
doe that work ?
I'm not exactly following what you're saying here?
AMOGUS
Yeah. "Tax" in Italian means "imposta."
As someone born and raised in Italy. U are so wrong many points. Good try though
Care to clarify then???
too bad they have crazy vaccine passports.