Great Food and High Quality of Life: One of Our Top Picks for Life on the Continent

If you're looking for quintessential Old World lifestyle, Italy deserves your attention. The old towns are charming, and the countryside between is pleasant. Even excluding the big cities like Rome, there is enough here to keep your interest and to support a fully appointed life on the Continent.

What's more, life here can be much more affordable than back home. In Abruzzo, our top budget choice in Italy, you can buy a centuries old renovated home for only 75,000 euro. In some villages, habitable village houses are on the market for as little as 28,000 euro.

Stitching together seascapes with lush mountain valleys, Aburzzo is one of Italy's secret treasures--and you'll love it.  No over-crowding, no heavy industry. Hiding away down its curvy roads are castles, vineyards, and villages made of stone and memory. Life in the Abruzzo hasn't changed that much over the years, and it's like wandering into a gentler, kinder yesterday...a yesterday with little or no crime and neighbors who watch out for each other.

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Population  61,016,804 (July 2011 est.)
Gross Domestic  Product (GDP) $1.774 trillion (2010 est.)
GDP Per Capita $30,500 (2010 est.)
Inflation Rate 1.6% (2010 est.)
Currency Euros
Exchange Rate Versus U.S. Dollar  0.7715 (2010)  euros (EUR) per US dollar 
Language Italian (official), German (parts of Trentino-Alto Adige region are predominantly German speaking), French (small French-speaking minority in Valle d'Aosta region), Slovene (Slovene-speaking minority in the Trieste-Gorizia area)
Capital ROME
Population of Capital City 3.357 million
Time Zone UTC/GMT +1 hour
Seasons Climate – Mediterrenean (cold winter and hot summer)
International Dialing Code 39
Electricity 230V, 50Hz
System of Government Constitutional Republic
Name and Party Affiliation of Current Leader chief of state: President Giorgio NAPOLITANO (since 15 May 2006)
Income Tax Rate for Residents Residents are liable to tax on their worlwide income at progressive rates, from 23% to 43%
Property Tax Set annually and range from 0.4%to 0.9%
Capital Gains Tax 12.50%
Inheritance Tax 4% to 8%
Rental Income Tax Nonresidents are taxed on rental income earned.Ranges from 23
Transfer Tax stamp duty is levied on legal and banking transactions a varing rates.
Sales Tax 20%
Restrictions on Foreign Ownership of Property Only citizens of countries which allow Italian citizens to purchase real estate assets in their territories can buy property in Italy (principle of reciprocity).
Local Chamber of Commerce http://www.at.camcom.gov.it/   ---http://www.bi.camcom.gov.it/
American Chamber of Commerce http://www.amcham.it/
Primary Exports engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; food, beverages and tobacco; minerals, and nonferrous metals
Residency and Visa Requirements EU-citizens do not require a visa to enter in Italy, regardless of the planned duration of the stay.All non-EU citizens require a visa for a stay of longer than three months (90 days). 
Special Benefits for  Foreign Residents or Retirees no
National Airline www.alitalia.com

 

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