The country in Europe became a magnet for the millionaires of the world. Sound name among residents attracted by relaxed tax regime in this state
Magnet place for millionaires. Photo source: dreamstime.com
While other states tighten the rules for super-rich, this European country maintains a simplified tax regime, according to CNBC, quoted by News.ro.
Italy continues to apply a flat tax on revenues from abroad, fixed at 200,000 euros annually, which transformed Milan, Rome or the region of lakes into top destinations for relocating large assets, writes the source. Thus, in 2025, the number of new millionaires in this country could reach 3,600, according to Henley & Partners estimates.
New residents include sound names, such as Egyptian billionaire Nassef Sawiris or Vice -President Goldman Sachs, Richard Gnodde.
The large number of millionaires arrived in Italy has led to an explosion of real estate prices in areas such as Milan, Tuscany and Italian Riviera. In the Lombard capital, the prices of housing increased by almost 50% from 2017, double compared to the average of the big Italian cities, and the specialists expect new increases in 2025.
The criticism of the wave of millionaires arriving in Italy warns of the accentuation of social inequalities and the reduced impact on the national budget. The supporters say, however, that the new wave of investments and consumption stimulate the local economy, bringing benefits to the sectors of services, hospitality and finance.
PHOTO: The old bridge and the port of Sirmione from Scaliger Castle, with Lake Garda in the background, Lombardia region, Italy, Europe. Source: Dreamstime.com
