Immigration Law

Video: Italy Retirement Visa, find out why the Tax Code is the first document you Need

Italy

If you’re considering retirement in Italy, there’s one essential document you can’t overlook: the Italian Tax Code, known as the Codice Fiscale. To fully enjoy the benefits of retiring in Italy – including access to Italy’s high-quality public healthcare system and the lower cost of living compared to other European markets – you need to navigate the local bureaucracy effectively. In this video we have briefly summarized why you should get your own Italian tax code before starting the application for your Italian retirement visa.

Let’s delve deeper into the Italian Tax Code and why it’s indispensable for expats, especially retirees looking to enjoy their pension in Italy.

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Tax Code: what is it

The Codice Fiscale is akin to the U.S. Social Security Number, the UK National Insurance Number or the Spanish CIF. It’s a personal identification code issued to Italians and foreigners alike, which is used in all interactions with government agencies and public administration in Italy. This code is essential for a variety of everyday tasks, from opening a bank account to signing a lease and accessing healthcare services.

For retirees from abroad, obtaining the Codice Fiscale is one of the first steps upon deciding to move to Italy. It’s necessary not only for residency but also for financial transactions and receiving pension payments in Italy. Without this code, the process of moving and settling into Italian life becomes significantly more complicated.

Your retirement pension in Italy

Regarding the taxation of foreign pensions, Italy has several bilateral agreements to avoid double taxation. Depending on the agreement with each country, foreign pensions may be taxed differently. Generally, public pensions are only taxed in the country from which they originate, while private pensions are usually taxable in the country of residence of the beneficiary.

For non-EU citizens, obtaining a retirement visa requires this tax code, and establishing residency is crucial for pensioners, as failure to maintain actual residence can lead to the revocation of pension rights. Dual citizenship holders have an edge here – Italy allows multiple citizenships, which means if you hold an Italian passport alongside your foreign one, you’re regarded as an Italian citizen with all the associated rights.

How to Get Your Tax Code with Italy Law Firms

All persons residing in Italy for more than 6 months, including foreigners receiving pensions from abroad, require a Tax Code. It serves as your fiscal identity, needed for duties like registering with local authorities, opening a bank account, seeing a doctor and more.  

Luckily, obtaining a Tax Code is straightforward with the help of professionals. Italy Law Firms assists expat pensioners through the entire process, from verifying residency requirements to completing your application. 

Italy Law Firms can review your specific situation and clarify any concerns over residency conditions or required visas when relocating here as an expat pensioner. 

Visit this page today to start the simple process of obtaining your Tax Code for a carefree retirement in Italy. You’ll get a 30-minutes free consultation with or legal experts.