================================= How to work with me: ================================= 😎 One-on-one Consulting for planning your move abroad: calendly.com/adventurefreaksss/50min
Honestly is shocking to learn about families who can’t afford medical care and just ignore their health completely. Italy doesn’t have the best healthcare in the world but at least we don’t throw sick people out of the hospitals for any reason
I recently got my Italian drivers license. Looking back it felt like lot but keeping on the "schede" I made it and that's done yay! It all sounds overwhelming but it is very much worth it. I LOVE ITALY!
Really good interview. You always ask the questions I and others want to know. Thank you!The Consulate requires 31,000€ per person or 38,000€ per couple passive income. For the US, each consulate has leeway and may require more. For example, Miami Consulate requires 60,000€ for a couple. They also require a credit report which is not mentioned on the consulate website. The € required has to be PASSIVE income. Social security, pension or annuities for example. It has to show you are getting a check without doing anything. 401ks, Roth IRAs and savings do not count for passive income. They will not consider it. He had to have some other passive income other than $1200 in Social Security. I think he said something about land, so maybe he was renting it out and that would be passive income. He wasn’t clear, but maybe he had a lawyer submit the paperwork and didn’t really know the details. I appreciate the time both of you gave to this interview Grazie mille😊
you probably shouldn't display any personal I.D. online or anywhere on screen , not a good idea in today's information hackers World . just my opinion . maybe blur it .
@@adventurefreaksss he mentioned he had rentals if anyone wanted . I think you missed the part where he "sent in his 'Merrill Lynch' account of lets just say $500 k" , and @12:46 "if you got 500 k in your savings" no problem . He may be living on less than $1200 a month but that's not how he qualified to move there .
I'll be moving to Italy next year (wife and I). We have a small business doing cybersecurity assessments and after going to vacation in Italy, we just knew we had to move there. It just felt "right" and felt like home. What's crazy is that every little small town between the major cities were just beautiful beyond measure and had its own charm. When my wife and I were there, I thought everyone would have that European standoffish attitude but we were wrong. Everyone was super nice and hospitable. I also am 100% disabled from the VA and get payment for that every month (almost $4K). After hearing everyone talk, we realized that if we wanted to, we could just live off of that.
I tal y, i can believe how long it takes to deal with any paperwork there. In 1976-1977, it took us 6 months of paperwork to get married in Marina di Pisa.
I've been thinking of retiring early at the age of 62. And been thinking of buying a house in Italy in the 7% flat tax areas. Hoping for some place relatively with not to cold winters. But if you buy property there do you still have to leave the country every3 to 6 months. Or is there away to get a retiring visa where you don't have to leave.
Yes, you can get a retirement visa! We use Lexidy in Italy they are an immigration firm that can help with this: www.lexidy.com/services/italy/immigration/?AdventureFreaks&. Here's also a video where Giancarlo covers this information thoroughly: ruclips.net/video/_GgEToLlkpE/видео.html
Q1: If he is collecting 1200/month USD in Social Security, what percentage does he pay in tax to Italy on that income? Is it double-taxed, i.e., U.S. tax (Federal) on top of the Italian tax, or is there a 100% offset once you file in both countries and there is reciprocal tax agreement? Q2: It wasn't clear from the interview if he is working part time in Italy (teaching cooking classes, or running a house rental business, for example). My understanding is that one of the conditions of the retirement visa is that you are not allowed to collect employment income in Italy. Is there a loophole if you are self-employed as in this case?
US has a dual taxation treaty with Italy which prevents from being taxed in both countries but you will still have to file in both countries. Most use tax specialists to assist with this. And yes, the elective visa has a requirement that you can't work and must be retirees who can support themselves through stable income, such as pensions, savings, or other financial assets.
You are so patient. Your guest is so confusing. I presume a bolo is a certification stamp they give you at the post office for legal documentation. Zurich is an international insurance provider. Very confusing and hard to trust what this guy has to say. I heard you have to provide documentation to Italy of earning $30,000 a year in some kind of income whether it be job, investments, etc.
For an Elective Residence Visa (Considered the Retirement Visa) - to be eligible, you must demonstrate that you have sufficient passive income to support yourself during your stay. This income can come from pensions, investments, rental properties, or savings. The minimum income requirement typically varies by location and consulate, but a general guideline is around €31,000 to €35,000 per year for a single person. For couples, it's usually higher, around €38,000 to €40,000 per year. If you still want to work than you can pursue the Digital Nomad visa that has similar income requirements. Hope this helps!
If you are frugal, you can spend 100€ per month in groceries. I managed to do it in Milan (expensive city in the north Italy), easier to do in a little country town in Tuscany. 200€ per month will ensure that your grocery shopping will be top-quality, with some delicacies, too.
Try Sicily, they have some bargain properties but you have to do them up. The food in the south, especially Sicily is excellent and healthy. They use lots of vegetables and fruit which is abundant there. Also the fish and seafood, is also fantastic.
Question: If you are applying for a visa, and you don't have perfect health... Do certain health conditions prevent you from getting accepted? I heard some European countries are very discriminating to people with disabilities and health conditions, everything from cancer issues to HIV to MS.
I think it’s more about you having health coverage to not be a burden on Italy’s healthcare. So if you find an insurance company to cover you, that’s all they need
I have dual citizenship and want to rent for a month in the area of Tuscany, and look around as I love this area and was told Spoleto and Viterbo are also nice. Lecce is another place I want to look at. My family is outside of Benevento.
😮It's my understanding that they don't care how much you have in savings or investments, it's the passive income that counts. You must have monthly passive income other than your $1,200 USD Social Security in order to meet the roughly $3,100 USD monthly passive income requirement for the visa you describe. And since you're not in a 7% Tax Code region, your passive income will be taxed between 23% and 43%. Please explain.
I bought a place in Puglia, Italy the workers everyone of them are a nightmare just because you’re from America they think you have a lot of money so they keep dragging and dragging and dragging the work it’s so disappointing actually
Very low, but it's based on the cadastral value of the home. You cannot make assumptions based on the location or what the neighbors pay... if you're serious about buying, pulling the estimated taxes for the specific property is a must.
If you own a house other than the one you live in, you have to pay a tax called IMU. It varies from municipality to municipality and is calculated on a per thousand basis on a value given by the revalued cadastral income. Example: if the cadastral income is €450 you must multiply this figure by 126 and you must calculate the amount in thousandths based on the rate established by the municipality where the house is located. Then you will have an increased waste tax and water, electricity and gas bills that are approximately 20% more expensive than home ownership for the same consumption.
@timmaloney6441 yes there is a standard. Infact when you learn Italian or another language, you learn the standard.. however each region has there own dialect.. the usa has as well. Go to the deep south or northern region etc..
There are also sub dialects . My grandfather town is comprised of Albanian immigrants . The language is a combo of Italian and Albanian . Its called Alberese .
@@adventurefreaksss I don't really want to go into his private details but the discount is for families who have a join yearly incombe which doesn't exceed €9.530.
Yes, no taxes on your prima casa, your main house. The only annual fee you pay is the TARI, or the waste tax. It varies from municipality to municipality. In my municipality I pay around € 140 a year. On the second home, however, you have to pay A tax that varies from municipality to municipality and that can also be high. Typically, a few hundred euros.
There are tons of houses... just maybe not were the average Italian wants to live (close to jobs). If you work remote, or are retired and want to live away from crowds, you'll have a lot to choose from.
All Europe has a refugee problem nowadays. But in smaller communities there is hardly any impact. Also, Italian people are more based than other Europeans, so they make those people behave in check (we don't have banlieues like in France). Also, refugees lands in Italy but usually they try to go further in places like France, Belgium and Germany where they can get social benefits that in Italy aren't so generous for them.
@@kykyjoy9390 Montecatini is a thermal town with a nice thermal resort. Just google "terme di Montecatini" and use the translator. In any reasonable sized town in Italy, if you stay in a place near the historical center (downtown) there is no need for a car. Every basic necessity (doctor, grocery store, farmers market) can be reached just walking.
People!!! Do your homework before you even start moving anything. Go in Italy, find a place you like and airbnb around. Afterwards decide for yourself not those clowns who don’t know any better🤡🤡 This guy is spending €100 for food in one month? 🤣🤣🤣 Btw if you’re not going to learn the language you’ll never there except your body. Your mind will always be whatever you coming from.
Not sure I totally believe that 100 euro estimate. Not saying he's intentionally misleading, but maybe he's just not careful with his record keeping 🤣 Then again, he's a chef, so maybe he cooks for himself most days
=================================
How to work with me:
=================================
😎 One-on-one Consulting for planning your move abroad: calendly.com/adventurefreaksss/50min
I plan to retire to Italy due to healthcare - the great people, food, envionrment, and everything else are bonus.
Honestly is shocking to learn about families who can’t afford medical care and just ignore their health completely.
Italy doesn’t have the best healthcare in the world but at least we don’t throw sick people out of the hospitals for any reason
I recently got my Italian drivers license. Looking back it felt like lot but keeping on the "schede" I made it and that's done yay! It all sounds overwhelming but it is very much worth it. I LOVE ITALY!
Wow, good for you! Did you speak Italian prior to moving there?
I may message you for advice as this guy was very confusing and I doubt the accuracy of his information.
Really good interview. You always ask the questions I and others want to know. Thank you!The Consulate requires 31,000€ per person or 38,000€ per couple passive income. For the US, each consulate has leeway and may require more. For example, Miami Consulate requires 60,000€ for a couple. They also require a credit report which is not mentioned on the consulate website. The € required has to be PASSIVE income. Social security, pension or annuities for example. It has to show you are getting a check without doing anything. 401ks, Roth IRAs and savings do not count for passive income. They will not consider it. He had to have some other passive income other than $1200 in Social Security. I think he said something about land, so maybe he was renting it out and that would be passive income. He wasn’t clear, but maybe he had a lawyer submit the paperwork and didn’t really know the details. I appreciate the time both of you gave to this interview Grazie mille😊
you probably shouldn't display any personal I.D. online or anywhere on screen , not a good idea in today's information hackers World . just my opinion . maybe blur it .
He owns two homes there and rents one out.
Easy to understand why he spends less than 1000 a month.
Now, that makes more sense.
Two homes?
@@adventurefreaksss he mentioned he had rentals if anyone wanted . I think you missed the part where he "sent in his 'Merrill Lynch' account of lets just say $500 k" , and @12:46 "if you got 500 k in your savings" no problem . He may be living on less than $1200 a month but that's not how he qualified to move there .
he gave a very realistic advices!!! very helpful!
I'll be moving to Italy next year (wife and I). We have a small business doing cybersecurity assessments and after going to vacation in Italy, we just knew we had to move there. It just felt "right" and felt like home. What's crazy is that every little small town between the major cities were just beautiful beyond measure and had its own charm. When my wife and I were there, I thought everyone would have that European standoffish attitude but we were wrong. Everyone was super nice and hospitable. I also am 100% disabled from the VA and get payment for that every month (almost $4K). After hearing everyone talk, we realized that if we wanted to, we could just live off of that.
@@Jason-33W thank you for this. Keep us posted on what region / town you decide on!
Enjoyed the interview 😊cheers from Australia
Did you like Lucca? Excellent episode!
Great stuff. I will look him up. I'm am Minnesota electrician retired. Soon
I tal y, i can believe how long it takes to deal with any paperwork there. In 1976-1977, it took us 6 months of paperwork to get married in Marina di Pisa.
Tanti Auguri
I've been thinking of retiring early at the age of 62. And been thinking of buying a house in Italy in the 7% flat tax areas. Hoping for some place relatively with not to cold winters. But if you buy property there do you still have to leave the country every3 to 6 months. Or is there away to get a retiring visa where you don't have to leave.
Yes, you can get a retirement visa! We use Lexidy in Italy they are an immigration firm that can help with this: www.lexidy.com/services/italy/immigration/?AdventureFreaks&. Here's also a video where Giancarlo covers this information thoroughly: ruclips.net/video/_GgEToLlkpE/видео.html
Buying a house does not guarantee getting an Elective residency Visa. You would have to do the 90 day in 180 days stay u til you could get the Visa.
Q1: If he is collecting 1200/month USD in Social Security, what percentage does he pay in tax to Italy on that income? Is it double-taxed, i.e., U.S. tax (Federal) on top of the Italian tax, or is there a 100% offset once you file in both countries and there is reciprocal tax agreement? Q2: It wasn't clear from the interview if he is working part time in Italy (teaching cooking classes, or running a house rental business, for example). My understanding is that one of the conditions of the retirement visa is that you are not allowed to collect employment income in Italy. Is there a loophole if you are self-employed as in this case?
US has a dual taxation treaty with Italy which prevents from being taxed in both countries but you will still have to file in both countries. Most use tax specialists to assist with this. And yes, the elective visa has a requirement that you can't work and must be retirees who can support themselves through stable income, such as pensions, savings, or other financial assets.
I wish there was a video of the area, house, anything
@@claudiakornitchouk53 it is in the video:)
I love to move to ITALY ❤
The health card..is part of the EU?
You are so patient. Your guest is so confusing. I presume a bolo is a certification stamp they give you at the post office for legal documentation. Zurich is an international insurance provider. Very confusing and hard to trust what this guy has to say. I heard you have to provide documentation to Italy of earning $30,000 a year in some kind of income whether it be job, investments, etc.
For an Elective Residence Visa (Considered the Retirement Visa) - to be eligible, you must demonstrate that you have sufficient passive income to support yourself during your stay. This income can come from pensions, investments, rental properties, or savings.
The minimum income requirement typically varies by location and consulate, but a general guideline is around €31,000 to €35,000 per year for a single person. For couples, it's usually higher, around €38,000 to €40,000 per year. If you still want to work than you can pursue the Digital Nomad visa that has similar income requirements. Hope this helps!
You took SS early. What about the $174 the government deducts for medicare? Since you relocated to Italy, were you able to keep it?
I think you don't have to take Medicare. There are penalties if you move back to the U S. and try to use it.
Matthew, what restaurant did you own in Sonoma? I lived there from 2004 - 2009 and visit friends who still live up there.
This guy had too much coffee.
Lol, who me or Matthew? I think I had a whole pot before the podcast:)
good content..just subscribed
I suggest to have a look at Viterbo and La Tuscia area
Thank you for this information!!
Matthew, great info. Is the grocery number a mistake? Did you mean 100€ a week? It’s hard to believe it’s 100 a month.
If you are frugal, you can spend 100€ per month in groceries. I managed to do it in Milan (expensive city in the north Italy), easier to do in a little country town in Tuscany. 200€ per month will ensure that your grocery shopping will be top-quality, with some delicacies, too.
@@vgnlda wow! I was sure it was a typo.
Is there any Italian towns that are less about heavy / carbs and more about seafood, fruits and veggies?
In the south there is less use of carbs..
Diet is more fruits and veggies and of course fish and seafood with small amounts of meat.
Try Sicily, they have some bargain properties but you have to do them up. The food in the south, especially Sicily is excellent and healthy. They use lots of vegetables and fruit which is abundant there. Also the fish and seafood, is also fantastic.
Ok, can we see the kitchen?
@@claudiakornitchouk53 i added some imagery of the kitchen. Did you watch the full video?
Question: If you are applying for a visa, and you don't have perfect health... Do certain health conditions prevent you from getting accepted? I heard some European countries are very discriminating to people with disabilities and health conditions, everything from cancer issues to HIV to MS.
I think it’s more about you having health coverage to not be a burden on Italy’s healthcare. So if you find an insurance company to cover you, that’s all they need
EUR2,000 for the year right??
I have dual citizenship and want to rent for a month in the area of Tuscany, and look around as I love this area and was told Spoleto and Viterbo are also nice. Lecce is another place I want to look at. My family is outside of Benevento.
Wow 500k no wonder they approved! 😼
Too much info all over the place😮
Lol, sometimes you have to watch several times:)
😮It's my understanding that they don't care how much you have in savings or investments, it's the passive income that counts. You must have monthly passive income other than your $1,200 USD Social Security in order to meet the roughly $3,100 USD monthly passive income requirement for the visa you describe. And since you're not in a 7% Tax Code region, your passive income will be taxed between 23% and 43%. Please explain.
Exactly. Doesn't he need additional passive income in order to make the required amount? I have also heard that they won't consider savings.
@@paulabroussard1824Yes, we'll see what the explanation is.
that's 31,000 Euro - currently $34,220 Yearly , not monthly . there is an investor Visa . He has a Wife so maybe their combined income makes it work .
Also, Italy taxes your Social Security income because they don't consider it governmental income. So, you pay twice on that income.
@@timmaloney6441Right on the amounts. But I believe they mentioned he was using the visa a typical retiree would use, not the investment visa.
I bought a place in Puglia, Italy the workers everyone of them are a nightmare just because you’re from America they think you have a lot of money so they keep dragging and dragging and dragging the work it’s so disappointing actually
Very, very confusing.
Your primary home is not taxed. You pay a yearly fee for your recycling to the comune. Your second home is taxed to hell and back
Yeah, I was thinking the same thing.
That’s why so many Italians sell for example an inherited home or any kind of second home. It is taxed heavily.
What are property taxes like on homes?
Never mind. I guess I should have listened to the whole thing before posting the question
@@tomheim7718 from what I've heard , it's very low and fair .
@@timmaloney6441on your primary home it's not too bad. On your second home it's crucifying!
Very low, but it's based on the cadastral value of the home. You cannot make assumptions based on the location or what the neighbors pay... if you're serious about buying, pulling the estimated taxes for the specific property is a must.
If you own a house other than the one you live in, you have to pay a tax called IMU. It varies from municipality to municipality and is calculated on a per thousand basis on a value given by the revalued cadastral income. Example: if the cadastral income is €450 you must multiply this figure by 126 and you must calculate the amount in thousandths based on the rate established by the municipality where the house is located. Then you will have an increased waste tax and water, electricity and gas bills that are approximately 20% more expensive than home ownership for the same consumption.
Man this guest is all over the place. Lovable but can’t seem to hold a thought.
Each region of italy has their own dialect, just like in the u, s, just like in the rest of the world
Thank you for sharing this information!
We have regional accents in the U.S. but dialect is way more complicated . I believe the standard Italian today comes from the area around Firenze .
@timmaloney6441 yes there is a standard. Infact when you learn Italian or another language, you learn the standard.. however each region has there own dialect.. the usa has as well. Go to the deep south or northern region etc..
@@browneyelady6726 I can see your point , you're right . Thanks
There are also sub dialects .
My grandfather town is comprised of Albanian immigrants .
The language is a combo of Italian and Albanian . Its called Alberese .
OMG, this video is so confusing!
Lol, we sometimes try to confuse you:)
Why does he get 50% discoun🎉t on his elevtricity bill? I live here and have never heard anything similar.
His contact information is listed in the description, email him and find out how he did that. I've also heard that from others as well. Good luck!!
@@adventurefreaksss ok, thankyou. It still seems strange, I've been here for 49 years...
@@adventurefreaksss I don't really want to go into his private details but the discount is for families who have a join yearly incombe which doesn't exceed €9.530.
Oh brother. With that chunk of change he could have moved anywhere.
We have a house in Vellano! - mountain towns are gorgeous.
Do you live there full time or is it a vacation home?
Why not you answer the question are you afraid of something 😮??
Very confusing and chaotic presentation. He did these transactions in Italian?
No taxes.. is that on your prima casa ?
Yes, no taxes on your prima casa, your main house. The only annual fee you pay is the TARI, or the waste tax. It varies from municipality to municipality. In my municipality I pay around € 140 a year. On the second home, however, you have to pay A tax that varies from municipality to municipality and that can also be high. Typically, a few hundred euros.
Why can't he spend his $1200 per month? I didn't understand that scenario.
He is saying it costs so little to live there that his costs are less than $1200.
I thought there were no houses there
There are tons of houses... just maybe not were the average Italian wants to live (close to jobs). If you work remote, or are retired and want to live away from crowds, you'll have a lot to choose from.
They prefer italian descent people to return
Why didn't he agree to a price on the weed whacking ahead of time? lol
Are there many migrants going there and making the locals not so happy??
All Europe has a refugee problem nowadays. But in smaller communities there is hardly any impact. Also, Italian people are more based than other Europeans, so they make those people behave in check (we don't have banlieues like in France). Also, refugees lands in Italy but usually they try to go further in places like France, Belgium and Germany where they can get social benefits that in Italy aren't so generous for them.
@@Maxsszz good to know!
Is there a hot springs besides montecatini therme?
I’ve been and liked.
Are there rentable places? Is it walkable town? Transit?
Thanks 🙏
@@kykyjoy9390 Montecatini is a thermal town with a nice thermal resort. Just google "terme di Montecatini" and use the translator. In any reasonable sized town in Italy, if you stay in a place near the historical center (downtown) there is no need for a car. Every basic necessity (doctor, grocery store, farmers market) can be reached just walking.
The small Italian towns are very much under control. The issues you mention are large cities like Milan
Too much info no time to continue. I only wanted to know about Social Security.
People!!! Do your homework before you even start moving anything. Go in Italy, find a place you like and airbnb around. Afterwards decide for yourself not those clowns who don’t know any better🤡🤡
This guy is spending €100 for food in one month? 🤣🤣🤣
Btw if you’re not going to learn the language you’ll never there except your body. Your mind will always be whatever you coming from.
Not sure I totally believe that 100 euro estimate. Not saying he's intentionally misleading, but maybe he's just not careful with his record keeping 🤣 Then again, he's a chef, so maybe he cooks for himself most days