An enclave of Italy, Campione D’Italia is located in Switzerland in the canton of Ticino, on the shores of Lake Lugano directly across from the lake’s namesake city of Lugano. Due to the peculiarities of location, tax benefits and picturesque nature, residential property in Campione D’Italia is very popular and in demand among foreigners. According to Italian law, any foreigner who bought property in Campione D’Italia, has the right to request a residence permit and residence in Italy. Let’s consider what advantages gives foreigners buying property in Campione D’Italia and obtaining residence permit and residence:
- The opportunity to become an equal citizen of the European Union, which allows you to move freely within more than 25 countries around the world;
- Living in a state with the highest level of infrastructure development and almost complete absence of crime (Campione is located on the territory of Switzerland);
- Receiving guarantees of Swiss reliability and security in the main spheres of family life;
- Opportunity to use quality services in the sphere of medicine, health and property insurance, education, finance;
- Campione D’Italia is included in the Swiss postal and telephone communication systems, which gives the opportunity to use Swiss telephone numbers for home and office as well as for mobile communication.
- Campione residents are allowed to open accounts in Swiss banks, allowing banking transactions guaranteed by Swiss law;
- Political, economic and social stability of the region;
- Tax exemptions for foreign nationals residing in Campione D’Italia: foreign nationals who do not carry out financial activities in Italy and who do not receive monetary income through Italian banks are exempt from income tax. On income derived in Campione D’Italia, for the purpose of determining the territoriality of taxation, Article 7 of the Decree of the President of the Republic of 26 October 1972, number 633, applies (taken as “for the State” or “Territory of the State of the Italian Republic, excluding the communes of Livigno and Campione D’Italia and the Italian waters of Lake Lugano). Campione D’Italia is considered a zone of the Swiss Confederation and the inhabitants of the commune use the currency Swiss franc. Campione D’Italia is located in an extra-communitarian territory;
- Campione residents conducting commercial activities are subject to a reduced income tax of up to 200,000 francs per year.
- Gift and inheritance tax is not levied on foreign relatives living in Campione D’Italia;
- There is no VAT on goods and services in Campione D’Italia, unlike the 22 per cent VAT in the rest of Italy. This is due to the fact that Campione D’Italia is not an Italian customs territory. For the purposes of VAT, Campione D’Italia is not considered an EU territory. Some VAT provisions are not valid (example: cash registers) and as a consequence there is no obligation to issue cash vouchers;
- The use of Swiss number plates on the vehicle.
- Obtaining a Swiss driving licence to drive a motor vehicle. If you have a driving licence issued in your previous country of residence, you can obtain a Swiss driving licence by simply passing a driving test, without having to take a theory test;
- Campione D’Italia residents have the right to attend Italian or Swiss schools, and then universities of their personal choice. Students have the opportunity to attend primary and secondary schools in Campione D’Italia. After that, if they wish to continue their studies, they have the opportunity to study at secondary and higher education institutions in Italy or Switzerland;
- The possibility of obtaining a permanent residence permit in Italy after 5 years of permanent residence;
- The possibility of obtaining Italian citizenship after 10 years of permanent residence with registration and residence in Italy.
Property market in Campione D’Italia
Offers on the property market have increased over the last two years. It cannot be said that with the arrival of the global crisis, prices in Campione have fallen. Rather, you can call the market of today is not unequivocal. There are offers with lower prices. But this is not a rule, but an exception to the rules, which has a private character. Basically the market is stable. The cost of residential property in Campione D’Italia is influenced by such factors as: the distance of the location of the object from the lake, the presence of repairs, the condition of the building, etc. Depending on these factors, the cost of real estate from 3 000 to 10 000 euros per 1 metre square total area. Buying property in Campione D’Italia for many years is and will be of great investment interest to foreigners. This municipality is an extra-communitarian zone and a zone of reduced taxation. Good location: it is one and a half hours drive to Genoa (Mediterranean coast); two hours drive to the ski resorts of Italy Switzerland. Campione d’Italia is ideal for both holiday and permanent residence.
Relocation assistance in Campione d’Italia
We will be happy to prepare offers on currently available properties at your request. Rent or buy property in Campione D’Italia. And we will help you in drawing up competent contracts and in the preparation of documents. We will be pleased to advise you on any matter. Contact us for a consultation.
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