Buying Property in Italy as a Non-Resident

- Buying property in Italy as a non-resident

1. Italian tax code: the essential first step
2. Opening a bank account in Italy
3. Real budget: taxes and additional costs
4. Financing for non-residents
5. Due diligence and urban compliance
6. Preliminary contract before completion
7. Signing before the notary
8. After the purchase
9. How BARNES Milano supports you

Buying property in Italy as a non-resident is absolutely possible, but it requires proper planning and attention to several legal and administrative aspects.

Whether you are purchasing an apartment in Milan, a property on Lake Como, or investing in Italian luxury real estate, preparing each step carefully helps make the process smoother and more secure, even when buying remotely.

Here are the key elements to know before purchasing property in Italy.

The Italian tax code (codice fiscale) is mandatory for any real estate purchase in Italy.

It is required to:

• sign purchase offers,
• open a bank account,
• pay taxes,
• sign the final deed before the notary,
• activate utilities and services.

In many cases, it can be obtained quickly through the Italian consulate or by representation in Italy.

Although not always mandatory, having an Italian bank account greatly facilitates:

• purchase-related transfers,
• payment of taxes and fees,
• condominium charges,
• rental management if the property is leased.

For high-value transactions, it also improves financial traceability.

In Italy, the total acquisition cost goes beyond the purchase price.

It is important to consider:

• purchase taxes,
• notary fees,
• agency commissions,
• technical and cadastral checks,
• renovation works and condominium charges.

Taxation varies depending on:

• tax residency,
• property type,
• purchase from a private seller or developer.

Foreign buyers can also obtain mortgages in Italy, although under specific conditions.

It is recommended to:

• prepare income documentation in advance,
• provide proof of source of funds,
• obtain mortgage pre-approval,
• verify financing timelines before signing contractual commitments.

Conditions may vary depending on the buyer’s country of residence and profile.

Before signing any agreement, it is essential to verify:

• cadastral and urban planning compliance,
• absence of mortgages or debts,
• permits related to renovations,
• condominium situation,
• approved works within the building.

In Italy, these checks are particularly important, especially in historic properties and renovated buildings.

The preliminary contract (compromesso) is one of the most important stages of the Italian purchasing process.

Once signed, it legally binds both parties and is generally accompanied by a deposit payment (caparra confirmatoria).

The contract should clearly specify:

• price,
• deadlines,
• payment terms,
• suspensive conditions,
• items included in the sale.

A properly structured agreement helps avoid disputes and protects the buyer.

The final deed is signed before an Italian notary, who verifies the legal compliance of the transaction.

If the buyer cannot travel to Italy, the purchase may also be completed through a power of attorney, a common solution in international transactions.

Once ownership is transferred, several steps remain:

• utility transfers,
• payment of local taxes,
• condominium management,
• potential rental management.

For high-end properties, proper management and maintenance directly impact long-term asset value.

At BARNES Milano, we assist international buyers throughout every stage of the process: on & off-market property selection, market analysis, legal and technical coordination, negotiation, notary assistance, and administrative support.

Whether your goal is to invest in Milan, purchase a second home, or acquire an exceptional property in Italy, our team provides a tailored and international approach.