About wobbster

Currently Lives:

Citizen of:

Some Forum Posts:

Italy: Rental Agreement For ER Visa:

It's hard to see how this could be a good idea for a US citizen moving to Italy, even if you are a gazillionaire. If you make this huge payment up front in year 1, you'd still have to pay US taxes on your US income starting in year 2. So, you'd get scant benefit from the provisions on double taxation. It's not even clear if this lump payment would be considered taxation from the point of view of the double taxation treaty.

Italy: italian tax on pensions:

Here might be a useful link: http://www.euitalianinternationaltax.com/2013/09/articles/international-taxation/overview-of-italys-tax-provisions-on-trust-updated/ My reading of this is that revocable living trusts are not recognized and income is treated as it would be without the trust arrangement (with respect to income tax). IANAL.

Italy: Required income for retiring to Italy:

Hello -- I have a specific question about required income for an Elective Residency visa (US citizens, SF consulate). We have assets (e.g., IRAs, securities) capable of supporting us in retirement in Italy for at least 20+ years based on investments alone under conservative assumptions. However, these assets do not produce an regular income stream of 120.000 Euro per annum, unless you consider IRA distributions. (We've deferred social security for now.) Do you believe that the SF consulate will require proof of an income stream when applicants can self-support at the required income level by liquidating investments or making (voluntary) IRA disbursements? (Another way to put this is there an asset level that can suffice in lieu of an demonstrable income stream?) Thanks,

Date Joined:

1/20/2017

Total Posts:

5

Posts/Day:

0.06