Buying houses for 1 euro is a unique opportunity, not only for Italians who want to escape the city chaos and take refuge in a small village, but also for those who come from foreign countries and would like to live the Italian dream without spending a fortune. So, can foreigners buy 1 euro houses in Italy? And can you buy a house in Italy without being a citizen? We answer these questions and others in this article outlining what documents are needed to be able to buy a 1 euro house in Italy if you are a foreigner.
How does a 1 euro house purchase work non-Italian citizens?
First of all, can foreigners buy 1 euro houses in Italy? Most definitely! Even foreign citizens, i.e. non-residents in Italy or without Italian citizenship, have the opportunity to join the 1 euro home project and thus be able to buy a property at this symbolic price.
In order to do so, it is compulsory for a foreigner to be in possession of an Italian tax code to be able to pay taxes. In addition, this code, known in Italy as your "codice fiscale" is a citizen's identification tool when dealing with public bodies and the Italian public administration.
The Agenzia delle Entrate (Italian Inland Revenue) is responsible for issuing the tax code and the Fisconline service immediately assigns it to the applicant via a telematic connection. To apply for an Italian tax code, it is essential to send a copy of your identity card at the same time. For more information on how to get an Italian tax code, check out our guide.
Documents needed to buy a 1 euro house in Italy
In order to be able to buy a house for 1 euro, the necessary documents to be submitted at the same time as the application are:
- a report explaining the potential buyer's proposal for renovation;
- documentation demonstrating possession of the necessary requirements;
- a declaration of commitment to sign the public deed of transfer of the property and to assume responsibility for all expenses.
In some cases, the municipality selling 1 euro houses may also require a security deposit which is a sum of 5 thousand euros to guarantee the commitment made to complete the renovation of the property.
Visiting Italy and obtaining residency: everything you need to know
Those who are interested in visiting the Bel Paese need to be in possession of at least one of three documents, namely: a temporary residence permit, a visa or Italian citizenship. A non-EU foreigner arriving from the external borders of the Schengen Area may enter Italian territory if:
- they cross through a border crossing point;
- they are in possession of a passport or other travel document permitting recognition at a border crossing;
- they are in possession of documents justifying the reasons for the stay and demonstrate that they have the necessary financial resources based on the duration of the stay and the expenses for returning to his/her country of origin
- they hold a visa for transit or entry:
- they are not the subject of an alert for the purposes of refusing entry in the Schengen Information System
- they are not considered dangerous to public order, national security and international relations.
Rejection by the competent border authorities may also occur for lack of only one of these requirements. It is useful to always check the information on Italian government websites, as applications and bureaucratic processes can change over time.
1 euro houses in Italy: how to buy one
Italy's 1 euro house project involves the sale of properties to the municipality at the symbolic price of 1 euro. The municipal administration acts as guarantor of the regularity of the sale, which is between private individuals. Whoever buys a house for 1 euro assumes several commitments, namely:
- planning a renovation and revaluation project within a certain period of time, usually decided by the municipality;
- bearing the notary fees for registration and title deeds;
- ensuring that the work is started within a specific time frame.
Potential buyers have to contact the municipality in order to take part in the initiative, and in some cases forms have to be filled in. Usually buyers can be: sole proprietorships, agencies or companies, private Italian, EU and non-EU citizens, and associations of traders.