Question 1

What is Italy's flat tax for HNWI?

Accepted Answer

Italy offers a flat tax of €300,000 per year on all foreign income for new residents who haven't been Italian tax residents for 9 of the prior 10 years. Family members can be added for €50,000 each. The regime lasts 15 years and includes exemption from inheritance tax on foreign assets.

Question 2

How much does it cost to relocate to Milan as an HNWI?

Accepted Answer

The flat tax costs €300,000/year. A luxury apartment in Milan's best neighborhoods ranges from €8,000-15,000/sqm to buy or €3,000-8,000/month to rent. International school fees are €15,000-25,000/year. Total first-year setup costs (excluding property purchase) typically range from €50,000-150,000 depending on family size and requirements.

Question 3

Why are millionaires leaving the UK for Italy?

Accepted Answer

The UK lost 16,500 millionaires in 2025 following the abolition of non-dom status, inheritance tax reforms on offshore trusts, CGT increases, and VAT on private school fees. Italy attracted 3,600 millionaires in 2025, making it the #1 European destination. Italy's flat tax, zero inheritance tax on foreign assets, world-class healthcare (WHO #2), and Milan's lifestyle make it the leading alternative.

Question 4

What is the Impatriati regime for workers moving to Italy?

Accepted Answer

The Impatriati regime exempts 70% of qualifying employment income from Italian tax for 5 years (extendable to 10). This reduces the effective top tax rate from 43% to approximately 12.9%. It applies to employees and self-employed individuals who transfer their tax residence to Italy and haven't been resident for 2 of the prior 3 years.

Question 5

Is Italy's healthcare really ranked #2 in the world?

Accepted Answer

Yes. Italy ranks #2 globally in the WHO healthcare rankings, behind only France. The public system (SSN) provides universal coverage, and private healthcare is widely available with English-speaking doctors in major cities. Pediatric care is free for all children under 14 with a dedicated assigned doctor.