Right of Reciprocity?
What you absolutely need to know?
What is The Right of Reciprocity?
Let’s start immediately with telling you that: if the stars do not align and you are not really motivated, buying a house with “do-it-yourself” is really really difficult. Especially for people living abroad, buying a house can become so stressful, so much so that in many cases the idea of investing is abandoned.
You know, every year hundreds of people from all over the world want to buy a house in Italy and be part of the magic of our country.
There are many reasons for this:
- Some people want to buy a second house to spend their holidays in Italy;
- Some people want to come and live permanently in Italy;
- And also those who would like to start a business here.
There is a problem, however.
And which is that Italy – although magnificent – has some bureaucratic, procedural and cultural peculiarities that you must know if you don’t want to transform the Italian dream into a real nightmare.
For example, do you know that Italy has signed agreements with many foreign countries included in the law regarding the “Right of Reciprocity”?
Right of Reciprocity
Thanks to these agreements, citizens of Countries that are not members of the European Union can buy in Italy only to the extent that it would be possible for an Italian citizen to buy in the Country of the foreign citizen who intends to buy in Italy.
Let us take an example so we can better understand:
Swiss citizens can’t buy a house in Italy that has a surface area of more than 200 sqm or that has more than 1,000 (THOUSEND) sqm of land, because in Switzerland it is also allowed for an Italian citizen to buy a house that covers a surface of less than 200 sqm and that has a surface area of not more than 1,000 sqm.
Let’s assume you are a Swiss citizen, You plan your trip to come and see the property, leave with all the good intentions, determined to complete the purchase.
Arrive in Italy, visit the property and …… discover that, according to the right of reciprocity you cannot buy this property.
Would you be happy?
Do you know that just with this information I have given you is very valuable?
Why?
I can assure you that 9 times out of 10, traditional real estate agents do not even mention it because they often do not even know of its existence
How can you protect yourself?
Probably only with the help of a good lawyer, who speaks your language and you would obviously pay, definitely not less than 300/400 euros for he to give you if all goes well half of the suggestions I’m giving you in these articles of our blog, but stay calm because this blog will allow you to clearly understand how you should proceed.
Go to next article —> Preliminary Controls
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