Italian Financial Adviser

In this episode we speak with Judith Ruddock, who works with the firm Studio Del Gaizo Picchioni - https://studiodelgaizopicchioni.it. You can reach her by e-mail at: jruddock@studiodelgaizopicchioni.it We cover a number of areas of interest for people considering a move to Italy, and the list below includes time markers for those who wish to skip to the section that is relevant for them:2:10 - Residency and tax residency4:20 - The consequences of residency in Italy5:45 - Double tax agreements and conflicts of tax residencies12:45 - Fighting the “Agenzia” (the Italian tax authorities)19:40 - CRS (Common Reporting Standards) and tax investigations, as well as invitations to correct “anomalies”23:40 - Mitigating the consequences of residency26:20 - Tax incentives for pensioners - the 7% regime31:50 - The types of pensions that qualify for the 7% regime35:50 - Submitting an “interpello” (an advance ruling from the tax authorities)38:00 - Exemption from foreign asset declarations and the associated taxes40:20 - Inbound workers incentive and digital nomads

During the episode, we speak with Jessica Zama of Buckles Solicitors, who gives us her insight on topics ranging from Italian citizenship, visas, estate planning and UK domicile. You can find her details here: https://www.buckles-law.co.uk/about/people/jessica-zama/I am including a few approximate minute markers so that you can easily locate the sections that are of interest:Italian citizenship - 2.20Long-stay permits and language requirements - 4.40Visas - 7.15Permesso di soggiorno - 8.30Family reunification visas - 12.00Estate planning - 15.30Inheritance taxes and donations (gifts) - 24.50UK domicile - 27.20The closing music is “L’iride (Mazurka)”, D. Ciolfi, played by Pasquale (O Rêua) and Pietro Taraffo of the Genoese school

This episode is really about much more than Brexit - I am including a few approximate minute markers so that you can easily locate the sections that are of interest:1:28 - Working with a UK financial adviser as an Italian resident8:55 - Equivalency in financial services between UK and EU12:57 - Taxation of EU-domiciled managed funds vs UK-domiciled managed funds post-Brexit for Italian residents15:50 - Tax declarations in Italy for directly-held foreign financial investments18:15 - The €51,645.69 question - holding foreign currencies as an Italian resident21:38 - ISAs - what they mean in Italy23:42 - Quadro RW - why you need to declare the mere existence of your foreign assets (as well the income that derives from them). Common Reporting Standards and why you should assume that information is being exchanged automatically with the Italian tax authorities25:20 - The taxation of UK real estate as an Italian resident (rental income and wealth tax (from 28:20))33:00 - Thinking about real estate investments once you move to Italy35:15 - Capital gains tax on foreign property (with particular comment on the situation for UK property owners who are non-resident in the UK)38:15 - Tax-efficient investment wrappers - what they can do and how they need to be set up. Some comment on inheritance taxes in Italy - 43:44 - The 7% pensioners’ tax regime 50:10 - Italy vs Italia - and why you should persevere if you want to move hereContact details for Gareth Horsfall: https://www.spectrum-ifa.com/gareth-horsfall/Contact details for Andrew Lawford: https://www.spectrum-ifa.com/financial-advisers-in-italy/andrew-lawford/The closing music is “L’iride (Mazurka)”, D. Ciolfi, played by Pasquale (O Rêua) and Pietro Taraffo of the Genoese school

We discuss Italian economics with Dr Philipp Heimberger, economist at the Vienna Institute for International Economic Studies.Philipp Heimberger on Twitter: https://twitter.com/heimbergeconArticle by Philipp Heimberger and Nikolaus Kowall:https://wiiw.ac.at/draghi-government-seven-surprising-facts-about-italy-n-486.htmlThe closing music is “L’iride (Mazurka)”, D. Ciolfi, played by Pasquale (O Rêua) and Pietro Taraffo of the Genoese school

Starting a business may be one of the last reasons why you would consider moving to Italy - but this story of an entrepreneurial New Zealander co-founding a high-end coffee machine manufacturer in Milan shows it can be done. A look back at the history of Rocket Espresso (www.rocket-espresso.com) with co-founder, Andrew Meo.

Trusts are a thorny issue for Italian residents, especially if you already had some connection with one before becoming resident in the bel paese. We take a good look at what kind of trusts might be acceptable and also highlight a few potential problems.During the episode, we interview Jessica Zama of Buckles Solicitors, who delves into the difficult (but easily simplified) world of trusts in the context of wills and succession. You can find her details here: https://www.buckles-law.co.uk/about/people/jessica-zama/The overarching message is that you should always consider your affairs from the points of view of all jurisdictions involved.

Following up from Episode 1 - here is the full interview with Robert Walker, where we discuss many aspects of investing and above all the right attitude to ensure you get the best outcome.

This episode explores some basic rules of investment and concentrates on how to make sure that you don't let times of crisis get the better of you.Below is a list of references made during the show:Nassim Taleb “Antifragile”https://en.wikipedia.org/wiki/AntifragileBerkshire Hathaway Annual General Meeting 2020https://www.youtube.com/watch?v=69rm13iUUgE&t=19568sDaniel Kahneman “Thinking, Fast and Slow” - Kahneman and his research partner Tversky gave us much of the theory that lead to what we now call behavioural finance. This book touches so many aspects of our lives and the way we think that it is difficult to exaggerate its importance.There is much to be discovered here beyond finance.https://en.wikipedia.org/wiki/Thinking,_Fast_and_SlowBenjamin Graham “The Intelligent Investor” - the classic text by Warren Buffett’s mentor. Easily accessible to everyone and still full of useful ideas.https://en.wikipedia.org/wiki/The_Intelligent_InvestorArticle cited by Robert Walkerhttps://www.hl.co.uk/learn/how-not-to-investThe closing music is “L’iride (Mazurka)”, D. Ciolfi, played by Pasquale (O Rêua) and Pietro Taraffo of the Genoese school