Changes of Residency

More and more often people want or need to move abroad for work, study or personal reasons.  In recent years a new phenomenon has emerged of pensioners wishing to change their residency. Such changes of residency have important tax implications, both in the “departure” and “destination” countries.  In fact, there is a very real risk of incurring double taxation or of committing tax irregularities.  In this regard, the Agenzia delle Entrate has announced on several occasions its willingness to verify changes of residence in order to combat the phenomenon of “fictitious” changes.

Furthermore, changes of residency abroad and/or in Italy, can also have an effect on issues of inheritance, not only in terms of tax rates, but also with regard to the laws applicable to the succession and the relevant, competent courts. In order to avoid unexpected surprises, it is therefore extremely important to carry out in advance a thorough analysis of both Italian domestic legislation and that of the applicable foreign country. AeA Tax Law assists clients with cross-border analysis in relation to the change of residency in Italy and abroad, also by assisting in appropriate preliminary steps in order to simply the process.

Having great experience in the field of international taxation, the Firm assists its clients in issues of foreign taxation by coordinating with foreign correspondent firms. The Firm’s approach does not neglect the practical aspects of the change of residency, paying particular attention to the completion of procedures and formalities related to the tax return, starting from the completion of the Quadro RW and other foreign income models such as the Modello Unico.

AeA Tax Law offers personalised solutions even in cases of relocation of residence subject to assessment: by using special numerical simulation programmes, the Firm guarantees the client personalised and complete protection with regard to the Financial Administration, in either the litigation or preliminary phases. The Firm also assists High Net Worth Individuals (HNWI) wishing to transfer their residence to Italy in order to benefit from the annual flat rate taxation of EUR 100.000 on foreign-sourced income.

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