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STAY TUNED! You can risk to Retire in Italy and Not Pay Taxes for 10 Years!

The Mediterranean views and limoncello might seem like a distant dream for many, but Italy could soon be providing your “Dolce vita” thanks to the new international retirement scheme.

A new proposal from the Lega — Italy’s nationalist, far-right party — hopes to attract both national and international retirees to settle tax-free for 10 years. The incentive of the bold new plan is to encourage repopulation in southern regions of Sicily, Sardinia and Calabria. The scheme it would aim to welcome some 600,000 residents in the next three or four years, in these part of Italy which is experiencing rapid depopulation and severe unemployment. To qualify, retirees would be required to settle in villages and towns with a population that has declined by at least 20% and with fewer than 4,000 residents.

Sicily, Sardinia and Calabria were chosen due to their lack of contribution to the national gross domestic product (GDP). To be able to participate in the project, towns and villages or each region will have to prove they have had a depopulation rate of 20% in the last 10 years.

Apart from the obvious lure of not being bothered by the tax collector, there’s the added draw of the low cost of living and a higher quality of life. Gaining the attractive 10 percent tax break would require those who participate to spend at least six months and a day living in one of the plan’s qualifying towns.

The proposal has yet to be brought to parliament but is being suggested as part of an effort to bolster the economy in these regions. Unemployment and a shortage of jobs means that most local millennials have left for greener pastures. The lack of jobs, however, does not pose a problem for retirees so…STAY TUNED!