Retiring to Italy

Italy is a beautiful country so it's no wonder that hundreds of Brits decide to retire there every year. Although this is an exciting time, it can be daunting so here are a few tips to get you started!

One of the first benefits of retiring to Italy is that as a citizen of the European Union you will not require a visa for entry. However you will need to register with the local authorities (Anagrafe) and apply for a residency certificate.

Another piece of good news for Brits retiring in Italy is that you can claim your UK state pension there and it can be paid into an Italian bank account. Any other sources of income such as property rental and investment may need to be paid into a British bank account although this is worth checking with your financial advisor.

If it is necessary to retain a British bank account ensure that you have access to it via the internet or telephone banking so that you can access your funds easily. It is also worth remembering that each time you withdraw funds in Euros you may face currency and transfer charges as well as exchange rate fluctuations. It is worth discussing this with your bank to see what arrangements can be made for regular payments.

Choosing an area

One of the first things you will need to decide upon when retiring to Italy is where to settle. You will need to remember that although you may be fit an healthy now, in 20 years time you may find it harder to get around. Ensure that your property is easily accessible without too many stairs and that it is close to shops and the essentials like a doctor's surgery. Also make sure that you station yourself near some reliable transport links, friends and relatives are likely to want to take advantage of your new place in the sun so an airport close by may come in very useful (unless seclusion is one of your reasons for moving away of course!)

When choosing a place to live in Italy, shop around! Enjoy the decision process by visiting as many locations as practicable - just because you had a great holiday in Tuscany don't be afraid to explore. Consider the type of climate that you would prefer and the types of people that you want to be surrounded by, a remote village in the south may become a frustrating if you are used to living in central London. Try to visit outside of the tourist season and even during the winter months to get a real taste of what it is like to live there permanently.

Healthcare

There is an agreement between the UK and major nations within the EU relating to the free provision of healthcare to retirees which will give you access to basic and emergency care free of charge, although many choose to take out a health insurance policy to cover for critical illness and other healthcare requirements in later life.

Inheritance Law

It is worth remembering that any assets that you own in Italy may not be automatically passed onto the person you would assume is your next of kin. Laws of succession in Italy differ from the UK so you should visit a lawyer to discuss your situation in detail.