The extra pieces an American needs to plan — visa, Social Security, and being taxed by two countries at once — each with a clear answer.
Thousands of Americans have already retired to Italy. The practical questions that stop people — the visa, the tax, moving money — all have well-worn answers. Here's the shape of it.
As a non-EU citizen you'll apply for the elective residence visa, designed for people living on stable passive income such as Social Security, a pension or investments. Expect to show roughly €31,000 a year for one person, more for a couple, plus private health insurance. Full detail is on the visas page.
The US taxes its citizens wherever they live, so you'll keep filing a US return — and, typically, FBAR/FATCA reporting on foreign accounts. Italy, once you're resident, can tax your worldwide income — but the 7% flat regime caps your Italian tax on foreign income at 7% for up to ten years and lifts Italy's foreign-asset reporting.
Exactly how Social Security, pensions and investments fall between the two systems depends on the US–Italy tax treaty and your own mix of income. The treaty exists precisely to stop you paying twice on the same money. We map your specific case so there are no surprises — this is the part worth getting professional eyes on.
Keep your US bank and brokerage accounts — most people do — and open a local Italian account for daily life. Think about the timing of your move within the tax year, and how you'll move money across. None of it is hard with a plan; all of it is easier with one.
The US–Italy treaty is built to prevent double taxation on the same income. With the 7% regime and proper coordination, most retirees pay very little Italian tax. We map your case.
How Social Security is treated depends on the treaty and your situation. Under the 7% regime, covered foreign income — which can include it — is taxed at the flat 7%. We confirm the exact position for you.
Yes. US citizens file regardless of where they live, usually with FBAR/FATCA reporting too. That continues alongside your Italian filing.
Generally yes, and most people do. You'll also open an Italian account for day-to-day life.
Almost always the elective residence visa — see the visas page for the income and insurance requirements.
Tell us your timeline and income and we'll lay out your visa, tax and practical steps — clearly, before you commit.
Prefer to read first? The whole journey is in Marco's book.