Campione d’Italia any info?

[Barney2201]

Does anyone have any info regarding Campione d’Italia and its special tax regime?

Researching alternatives to our current residence of Sark and this looks promising....

Trying to find something within a few hours commute of UK, decent climate and high quality living.

Done some intensive googling and all I get is (special tax regime) but I can't seem to find how special.

 

[JohnnyDoe]

Since 2020 the tax incentives have been significantly reduced and will end in 2030. Not worth considering Campione any longer.

Ps. It doesn’t take much longer, perhaps even less, to reach London from Nassau than from Sark.

 

[Barney2201]

I can believe it and thats the exact reason I'm looking for alternatives to Sark. I need to commute almost weekly and once you hit November it becomes unworkable.

We also have the rental in Monaco (mainly financed by F1) it's been an interesting experiment but want a solution where we can buy property with a bit of space (not paying €12 million for a 2 bed in Monaco). Plus Uk passport so Brexit has become as pain in the arse... Hence now looking what else is workable...

 

[manukahoney]

Trying to find something within a few hours commute of UK, decent climate and high quality living.

I used to be in the same position. The shortlist looked like this:
- Ireland (non-dom, so no taxes on foreign sourced income and zero hustle with relocation thanks to GF agreement)
- Jersey (low taxes, no problem relocating with British passport)
- Monaco (zero taxes, somewhat expensive and requires residence permit)
- Lisbon (NHR)
- Marbella (Backham's law)
- Gibrlatar (low taxes, the same as Jersey)

We used to vacay in Marbella often, so that was number one choice, however the sheer amount of dance you need to setup the tax structure plus wealth taxes that were cancelled/reintroduced on federal level - all that was off-putting, and we passed.

Jersey is too small and commuting might depend on weather. Gibraltar is better weather wise, but to get pretty much anything you need to cross the border with Spain. However if you considered Sark - Gibraltar may be a better option because you can drive to Marbella for some recreation and have a low tax base in UK-oriented country. We called it "Monaco by Tesco".

Lisbon was ruled out because of NHR cancellation.

Monaco is still on the list, we just ended up in Dubai and spend most of the time there. However if we are to return to EU - I will either go with Monaco or consider Ireland. The latter can be a nice substitute for the UK and it's literally 1h flight from anywhere in Ireland to anywhere in the UK. We also preferred Cork County to Dublin, Cork generally felt like a weird mix of Surrey with Soho in the center.

 

[daniels27]

I personally would recommend Gibraltar, you would still pay about £40k per year and some for the lawyers. It is much less than pretty much any option nearby. Of course, you could try Svalbard or Campione, but I would not count on them. Then better Beirut and just not report anything as they won't find you.

Dubai may be an alternative if you do not mind the flight time there.

Are you sellig or renting out your house in Sark?

 

[Marzio]

I agree with Gibraltar and i'll probably add Andorra (while spending most of the time in Barcelona)

 

[peter taradash]

Does anyone have any info regarding Campione d’Italia and its special tax regime?

Researching alternatives to our current residence of Sark and this looks promising....

Trying to find something within a few hours commute of UK, decent climate and high quality living.

Done some intensive googling and all I get is (special tax regime) but I can't seem to find how special.

Up till recently Campione, Como, Italy was a much more interesting destination to have one of your 5 flags. It was never an official tax haven. Why? Because Italian law "officially" says anyone living in Italy for over 6 months is taxable like an Italian would be on their worldwide income. However, in all of Italy, including Campione . foreigners (non-Italians) who are legally in the EU, are simply never bothered about taxes . Well, warning, as long as you keep a low profile. No driving Lamborghinis, etc. No local income from owning a store or visible local business.
Campione was until; recently a very special situation. It was and still is entirely within Switzerland physically. It is a suburb of Lugano. But the privileged status of Campionese to have Swiss car plates, Swiss Driving licenses, A Swiss phone & postal address, and "free" Swiss medical care is now finito... After the bankruptcy of the Campione Casino, Italy took full control of Campione ... Now, now no more Swiss special privileges. Campione is still a "de facto"tax haven-- like all of Italy is. It is still a nice place to live within Switzerland's small Italian speaking Banana Belt -- without all the hassles that Switzerland may give you about renting or buying... You can live indefinitely in Campione and enjoy their Lido beach with sand and Palm Trees by simply renting or buying an apartment there -- absolutely no restrictions. And it's half the price of Switzerland--across the street. To get "legal residence" requires paperwork and effort. For a quiet, safe place with no crime, I love Campione (population about 3,000) still. Oh one thing more, the "special tax regime" I never found of much use. To over-simplify, and to not be 100% accurate, If you are an Italian taxpayer working in Switzerland and living in Campione, your CHF income is taxed at a lower rate than if it was in Euros. No advantage for PTs or Expats. I can answer other questions re Campione if you care to ask them here. Pete.

 

[manukahoney]

Andorra

Forgot about this one. Yes, Andorra is also a great choice if you prefer mountains and don't mind driving 3 hours to Barcelona airport. The North of Spain is a lovely place too, not so hot and really great food.

 

[Marzio]

Andorra is also a great choice if you prefer mountains and don't mind driving 3 hours to Barcelona airport.

That's why i wrote "while spending most of the time in Barcelona"

I'm suggesting using Andorra as paper residency and live in Spain.

There are plenty of second homes in Spain.

If he doesn't have kids in school age and he isn't a public figure like Shakira nobody will even care he is there.

The only real problem i see is his UK passport which wouldn't allow him to stay in EU.

Probably Gibraltar is a better choice passport wise.

 

[redeye]

Campione, Como, Italy

Damn it's a place I never heard about but will have to take a trip to. Sad if it already is over, but would you say that if you have a time horizon of a maximum of 2 years, it would be worth relocating there? And would it be tax-free if you stick to an online business?

 

[JackAlabama]

Damn it's a place I never heard about but will have to take a trip to. Sad if it already is over, but would you say that if you have a time horizon of a maximum of 2 years, it would be worth relocating there? And would it be tax-free if you stick to an online business?

nope not worth it.

 

[marioIT]

Re Campione was excellent circa pre-2005... knowing the way italy handle things these days... i'd live on the swiss border really and enjoy a much easier life.
Almost same beauty, same views, same lake of campione... just way easier life and everyone mind his own business.
Less taxes on a bunch of things, less convoluted laws... and more protection.
Can still do business in switzerland and not have to fight against the tax agency and bureaucracy any day... like in italy
It's still just a few minutes drive (peak hour is a mess though) to eat your pizzas and meat in italian good restaurant. Can shop in italy and reclaim vat back and shop cheaper than an italian
Swiss side:
- Morcote if you don't travel a lot, small town, pretty much dead, lake view, just if want to chill and can drive around. Close to "italian" beauty albeit not right there... but with the swiss cleanliness and perfection.
- Castagnola, Paradiso near Lugano (70k inhabitants) are all good places while being well connected by trains etc and you get a bigger town vibe (still not big city vibe really).
Many ok villas with lake view.
But, compared to morcote, here you get trains every hour to Malpensa airport (mxp, Milan). Direct trains to pretty much anywhere (zurich etc)
But it's not really english speaking... and have that laid back town life.
30 mins train (30km) to Como and you can eat, drink, enjoy the italian way.

- I also like the small towns right at the italian border...
e.g. around Morbio Superiore, you live like a small town but you can get beautiful villas there with a little more space and privacy.
But at least some basic Italian is required... you're VERY close to Lake Como, Cernobbio, Villa d'Este... like 1km from the border.
It's like being in Italy with all the Swiss pro.
- Avoid Chiasso... it's a big customs station/border crossing and during peak hours it's a mess.

 

[peter taradash]

nope not worth it.

Campione Update 1 Sept. 2024



AS a Campi PT physical part-time resident for over 40 years, I like the place. If in no hurry, anyone who makes the effort can eventually get legal residence. But you can live there without it. And res is practically free, like a few euro registration charge. The cops actually come and check to see if you are really living there before granting residence. It is quiet and safer than the rest of Italy where there are often burglaries if you leave your house unoccupied for a while.



There is no crime to speak of in Campione. As I said, it is quiet and maybe boring if yu don't like fishing, swimming, boating, drinking & eating well --only one grocery store with Italian prices, half of Swiss. A few restaurants. Lots of sidewalk cafes and bars full of old geezers like me. All friendly & good. One really good cheap all-you-can-eat-sushi+ pizza joint is right downtown on Lake Lugano. Euro 17 for exceptionally high-quality nicely served food --outdoor tables next to a big fountain-- last time I looked. Several churches! There is no Lake Campione. It's Lake Lugano bordered by Italy and Switzerland. You can own a sail or motor boat and keep it cheaply in Campione Port. Campione also has a small sand beach with a restaurant/bar. The Casino is open and operational again. There used to be 3 girlie/hostess bars but they are gone now. Several jolly Brothels in Lugano if you need that sort of thing. No denying, Campi is not the most exciting place in the world. For a town of 3,000 though, it's O.K. And remember, its a 10-minute drive from the big touristy town of Lugano, and an hour's drive to Big City & Banking Center, Milan. You can rent an air-b& b and see if you like the place. Email me if you are coming there. I will give you the low-down on all the latest news --if I am there, and not in SE Asia.

You (above) got it all right! From 8AM to maybe 10 AM and from 4PM to around 7PM probably 70,000 Italians who work in Italian Switzerland are jamming up the main highway border crossing and the Chiasso town crossing into Port Chiasso (Italy) . So we prefer not to use the main roads at that time. But here's a secret. There is one usually empty little road between Campione- Switzerland- and Italy proper (Como). We use it and if any Offshore Corp reader moves to Campi, I will show it to you. It also has a "secret" gas station with the lowest prices in the area- maybe in all of Europe.

 

[Barney2201]

I personally would recommend Gibraltar, you would still pay about £40k per year and some for the lawyers. It is much less than pretty much any option nearby. Of course, you could try Svalbard or Campione, but I would not count on them. Then better Beirut and just not report anything as they won't find you.

Dubai may be an alternative if you do not mind the flight time there.

Are you sellig or renting out your house in Sark?

Renting in Sark, for a while we rented a large house on the island but then moved to the smallest to keep the residency. It’s less than £10k per year and there is currently no minimum nights you have to spend there so some would say it’s a very good deal, and easy to move to on a UK passport, will be 3 years in October since becoming resident.

Travel becomes tricky in winter and it’s pretty uninspiring… Lots of nature and good seafood but little else.

We may have to keep it, we fly under the radar with our Monaco residence at the monument, never registered as you have to stay in MC 6 months per year and we are not convinced it’s going to be somewhere we can call home.

Guess there are many of us looking for similar solutions. We considered Andorra but commute to BCN is long, maybe take a look at GIB but ex-wife used to work there and it was a bit tacky….

Thanks for all the Campione info, it sounds appealing with good connectivity.

What’s the tax situation in the area? Is there different deals between Campione and other border regions (both Italian and Swiss), my partner is German and speaks Italian so a little head start on the language (although I’m not so fortunate with just the mother tongue…. Need to study) and of course I’m on UK passport so it’s going to be a much harder move than Sark. Doesn’t have to be a zero tax deal just ideally below 10% combined corp & personal…

 

[marioIT]

secret" gas station with the lowest prices in the area- maybe in all of Europe.

can confirm, any smart italian should know this...
been there done that in past. Crazy difference with italy, even with nearby swiss ones!
~~~

Does anyone have any info regarding Campione d’Italia and its special tax regime?

About the tax regime in Campione...
they get some special fields in the italian tax declaration module just for them...
the advantages should be (double check with a professional):

• 0% vat, but now joined European customs territory;
• a ~33% reduction on the personal taxable income earned in CHF (sole trader/partnerships allowed, corporate/ltds not allowed). the exact value is established each year based on CHF-EUR exchange rate I think. I mean everything you earn in CHF will have to be converted for tax reason to EUR, but you can do it at 33% lower exchange rate than the official one;
• 50% reduction on PIT and CIT rates for 5 years (not sure)
• tax credit for new big plants, big investments etc
• lower excises for heating oil and electricity than the rest of Italy;

but as usual italian laws are a mess and for each of these points there are small caveats that might or might not render them useless to your case, depending on your individual situation...
so you need a good accountant.
And even after you find a good one, you should still pray you not get fined for doing the right thing

 

[clemens]

Then better Beirut and just not report anything as they won't find you.

Yeah, if you're tired of life and want to live like a desert rat, then Beirut is definitely the best place to be. I'd rather go for the Italian vibes in Switzerland.

 

[diro]

Campione Update 1 Sept. 2024

Do you still live there or only come there from time to time?

This area of Europe sound to me very appealing.

 

[peter taradash]

As a BRIT or non-EU person, You must have a "legal residence)" in the EU if you want to come and go as you please. They have this new complex Formula where (to over-simplify) you will get a big fine --maybe even jail time if you are in the Schengen area for over 3 months a year.-- if non-EU, like British. If you want to keep a legal residence in Campione --nobody really checks up on you as long as you have an apartment in your name (owned or rented)... But it's better to regularly show your face there. A neighbor or someone who doesn't like you can complain & possibly get your residence revoked if you are never there. A friend lost his residency because he sublet his apartment and the new tenant applied for residency using the same address. Campi is a nice friendly, safe place, so why not use your apartment as your Swiss base?
Me? As a PT, I used to move around all the time, but now at 86, I am happy to stay in my main hideaways for long periods at a time, and only move when the weather doesn't suit me. Thus, I find Campi too cold only in -Jan -Feb-March. So in the worst parts of winter I go on a warm weather cruise or visit SE Asia or Buenos Aires.

 

[bigbill27]

As a BRIT or non-EU person, You must have a "legal residence)" in the EU if you want to come and go as you please. They have this new complex Formula where (to over-simplify) you will get a big fine --maybe even jail time if you are in the Schengen area for over 3 months a year.-- if non-EU, like British. If you want to keep a legal residence in Campione --nobody really checks up on you as long as you have an apartment in your name (owned or rented)... But it's better to regularly show your face there. A neighbor or someone who doesn't like you can complain & possibly get your residence revoked if you are never there. A friend lost his residency because he sublet his apartment and the new tenant applied for residency using the same address. Campi is a nice friendly, safe place, so why not use your apartment as your Swiss base?
Me? As a PT, I used to move around all the time, but now at 86, I am happy to stay in my main hideaways for long periods at a time, and only move when the weather doesn't suit me. Thus, I find Campi too cold only in -Jan -Feb-March. So in the worst parts of winter I go on a warm weather cruise or visit SE Asia or Buenos Aires.

Mr Taradash , as a campione veteran, any truth to the W.G. Hill book the campione report ….. a classic read but I’m sure a lot has changed .

 

[Marie Manila]

But the privileged status of Campionese to have Swiss car plates, Swiss Driving licenses, A Swiss phone & postal address, and "free" Swiss medical care is now finito...

Are you sure?
I've read about it on the news, but I was in Campione a few days ago and asked some locals.
They told me it was fake news and that nothing had changed.

You can live indefinitely in Campione and enjoy their Lido beach with sand and Palm Trees by simply renting or buying an apartment there

For my next trip: Where is that beach?
I could not find a nice free public beach there.
There was one behind the first church (coming from CH on the left) and another belonging to a restaurant where you had to pay to get in.