Will the “Flat tax” see the super-rich flocking to Lake Como?

Yesterday, whilst all eyes were on the budget in the UK, an interesting piece of legislation known now as the “flat tax” giving fiscal advantages to the super-rich was being introduced in Italy.

The Italian government intends to attract ultra-wealthy individuals, possibly those considering leave the UK following the Brexit vote, with the idea that with their wealth and status will in turn promote and generate investment in Italy.

Here at LAKE COMO CONCEPTS we believe that this will be yet another incentive for ultra high net worth individuals to make Lake Como their home. Lake Como has proved itself to be a place where the rich and famous can live easily – it is a very glamorous yet an extremely safe area and has all the convenience of Milan just over 30 minutes away.

If you would like to discuss fabulous real estate on Lake Como or stunning Liberty villas in nearby Brianza, please contact us in complete confidence at info@lakecomoconcepts.com . Most of our opportunities over €10m are off market or pocket listings and do not appear on our or any website. We offer objective and impartial advice, whilst providing complete discretion and anonymity.

For those wishing to know more, the new law offers the super-rich the possibility of paying an annual “forfeit” or a flat tax of €100,000 on their earnings outside of Italy, should they become resident in Italy. For the super wealthy this is mostly likely to be a considerable tax saving on paying income tax at the usual rates of tax in Italy, and depending on income, potentially in most of Europe. The option is only open to individuals who have not been resident in Italy for nine out of the last ten years, and applies ……. TO READ THE FULL ARTICLE, please email us at info@LakeComoConcepts.com

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