According to the article, HNWI and UHNWI move not only because of tax incentives, but geopolitics and other issues certainly play a role in the decision-making process. According to the annual survey by Henley & Partners, 128.000 people will move out of their country this year in search of a better (and more consistent) legal environment.
The safe havens are therefore Australia, Switzerland, Singapore and UAE. For the EU the top ranking place is Italy. With a consistent tax package, historical and cultural beauty and the health system, the “Bel Paese” scores very well in this ranking.
Wealthy British, French and European dwellers are considering to relocate to Italy despite the yearly flat tax is set at €200k per year for the main applicant (grandfathering rule for those already in the system in the system has been granted: see Luigi Belluzzo’s article in Il Sole 24 Ore on August 8th HERE .
As the article by Alessandro Galimberti last Sunday pointed out, people look at Italy not only for its generous tax system but also for its culture and geographical position, well served by global airports in Milan, Venice, Roma, Firenze, Verona and many other towns and areas. Being between the Alps and the Mediterranean sea certainly also helps.
Our Firm runs an Immigration and Relocation department from each of our offices – London, Milan, Roma, Lugano, Verona, Singapore – with many professionals having experience related to many individuals and their families. We have traditionally worked with individuals moving to Italy, UK, Switzerland, UAE, Middle and Far East and major jurisdictions with a worldwide network of correspondents and banks.
