# Buying property under a company name



## BraveHorse (Jan 22, 2018)

Hi,

I'm thinking about buying a second home in Italy. I've already visited a few houses which I like, my problem is that I would not like to buy under my own name.

I would like to buy under a US company name, or a trust. I'm an old man and I want to control what will happen with my properties when I'm gone, and that's much easier this way.

The real estate agents I've met were not qualified to answer my questions, and I didn't have the time to meet a lawyer when I was in Italy.

Can anyone recommend an English or French speaking lawyer in South Piemonte or Lombardia? I'm sure there is also free information online, but I guess I don't know the good keywords... Any help would be much appreciated.


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## NickZ (Jun 26, 2009)

You'll need an American lawyer to setup the US trust. I'm not sure why you'd want an US trust instead of Belgian but you're looking at three countries now.

US trust controlled by a foreign national. Buying property in Italy. If you're resident in Cambodia that's four countries. 

I think the US embassy in Rome has a list of US lawyers on it's website. But it's likely to look for the same think in Belgium. The Italian bit might be the easiest part.


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## KenzoXIV (Nov 13, 2013)

NickZ said:


> You'll need an American lawyer to setup the US trust. I'm not sure why you'd want an US trust instead of Belgian but you're looking at three countries now.
> 
> US trust controlled by a foreign national. Buying property in Italy. If you're resident in Cambodia that's four countries.
> 
> I think the US embassy in Rome has a list of US lawyers on it's website. But it's likely to look for the same think in Belgium. *The Italian bit might be the easiest part.*


If the Italian is the easiest part than all I can say is I wish you good fortune in the wars to come!:laugh:


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## NickZ (Jun 26, 2009)

It likely will be.


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## KenzoXIV (Nov 13, 2013)

NickZ said:


> It likely will be.


I think your right Nick, I just can't imagine being in a scenario myself where applying for anything Italian is described as the 'easiest part'. 

But I do get lost in the beuraucracy of most countries so I am sure everybody... litterally everybody... will be far more informed than me on this one!

Kenzo


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## BraveHorse (Jan 22, 2018)

Thanks for those quick answers!

I already have 2 American LLCs for my business. They're much easier and faster to set up, and less costly, than anything in Europe. The problem is definitely on the Italian side. On what conditions can a foreign company own Italian land, and what are the taxes, these are my questions.

I don't think I can get answers at the US embassy since I'm not American, also I'm no longer in Italy (I'm in the US for a few days). I may be back in a month or so.


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## NickZ (Jun 26, 2009)

The only condition is you'll need money.

Taxes will be no different then an Italian buying a second home.

If you have cash people will line up to help you spend it. 

You don't need to go to the embassy. Usually the list of lawyers is on the website. But even if you need to go you're setting up an US business under US law. They will help you. If they aren't shutdown at the moment. 

But if you make it too convoluted you risk somebody wondering if it's some sort of tax dodge. The US isn't on the list of tax havens but somebody might wonder.


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## NickZ (Jun 26, 2009)

KenzoXIV said:


> I think your right Nick, I just can't imagine being in a scenario myself where applying for anything Italian is described as the 'easiest part'.
> 
> But I do get lost in the beuraucracy of most countries so I am sure everybody... litterally everybody... will be far more informed than me on this one!
> 
> Kenzo



If you want to give people money you'd be amazed how easy it can be made


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## KenzoXIV (Nov 13, 2013)

NickZ said:


> If you want to give people money you'd be amazed how easy it can be made


Never a truer word said in jest:lol:


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## BraveHorse (Jan 22, 2018)

NickZ said:


> Taxes will be no different then an Italian buying a second home.
> 
> But if you make it too convoluted you risk somebody wondering if it's some sort of tax dodge. The US isn't on the list of tax havens but somebody might wonder.


This is what I need to check. I know that when I buy a house it's more expensive if it's a secunda casa than a prima casa, but what's next?

I know I'll never be an Italian resident, and that I'll never rent my house even if it's empty 10 months per year, so that I'll have nothing to report to Italian tax authorities. I want to be a tourist spending a few weeks per year in a rural house owned by a company, or a trust.

No tax dodging, let's say it's asset protection considering I have no children, and that I don't want my house to be handed over to the Italian state when I'll die.


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## NickZ (Jun 26, 2009)

From what I understand of EU inheritance rules even if you became resident you wouldn't be subject to Italian rules. If you're a Belgian citizen you're subject to Belgian rules.


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## BraveHorse (Jan 22, 2018)

NickZ said:


> From what I understand of EU inheritance rules even if you became resident you wouldn't be subject to Italian rules. If you're a Belgian citizen you're subject to Belgian rules.


No, I left Belgium years ago. I went to see some family 3 years ago, they didn't recognized me. Belgium is really dead to me. All I've kept is a passport, but there's no address in Belgium on it.


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## NickZ (Jun 26, 2009)

That's not the point. 

http://ec.europa.eu/justice/civil/files/dgjust_succession_leaflet_en.pdf

start there


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## BraveHorse (Jan 22, 2018)

NickZ said:


> That's not the point.
> 
> http://ec.europa.eu/justice/civil/files/dgjust_succession_leaflet_en.pdf
> 
> start there


I'm not concerned. The place I "usually live" hasn't been in Europe for more than 10 years. I have nothing in Europe, no bank account, no income and no property and I want to keep it that way.


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## BraveHorse (Jan 22, 2018)

I'll be in Milano next week, and I hope to get answers this time. An agent I talked to my last time there seemed surprised when I told her I didn't want to buy under my own name (I left soon after, there was not time to get more info). I believe very few properties in Italy are owned by legal persons, but I don't know why...


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