Italian Flax Tax Regime for New Residents High-Net-Worth Individuals (HNWI)
Discover Why You have not to Miss the Most Trending Tax Benefits Program
All You have to know before applying, with Frequently Asked Question.
Why Do I Have to Choose Italian Flax Tax Regime?
The option, which is selected through the annual tax return, is available for up to 15 years and can be waived at any time during that term.
- an interest with more than 20% of the voting rights in the company, or an interest of more than 25% regardless of its voting rights.
A “qualified participation” means, in the case of a publicly-traded company,
- an interest with more than 2% of the voting rights in the company, or an interest of more than 5% regardless of its voting rights.
Which Tax Benefits Will I Have with Italian Flax Tax Regime?
- Lump Sum tax: pay only fixed amount of tax, regardless of how much incomes you have wordlwide.
- Extension to Family member: lump sum tax can be extended to cover all family members.
- Flexible concept of “Family member”: it includes spouses, sons and daughters (including sons-in-law and daughters-in-law), parents (including parents-in-law), and brothers and sisters.
- Italian Citizenship: after 10 years of legal residency in Italy an individual should be eligible to apply for Italian citizenship.
- No suprises: No tax credit will be allowed against the € 100,000 annual amount for taxes paid abroad.
- No limits: differently as for other types of visa, there is no annual quota limits for applying to this. If you are eligible, you can apply anytime.
- Full integration with any VISA: this special tax regime it’s an option that you can add within any other VISA application.
- Very long-term benefit: you can obtaing and benefit of this special Tax up to 15 years.
- Related big benefits: applicants will be exempt from RW reporting obligations and, consequently, from IVAFE and IVIE.
New tax residents who choose to be taxed under the special regime will be exempt from gift tax and inheritance tax on transfers of assets located outside Italy