Want To Live In Italy? Tuscany Will Pay You $32,000 To Move There

Retirement

Have you ever imagined living under the Tuscan sun? If so, your dream could become a reality—thanks to a new initiative by this pretty region of Italy that is offering financial incentives to people willing to move to its charming, less-populated towns.

With the program, “Residenzialità in Montagna 2024” (Residentiality in the Mountains 2024), Tuscany is trying to lure new residents to its rural mountain communities with grants ranging from €10,000 (around $10,715) to €30,000 (around $32,145) to help cover the costs of purchasing and renovating a home. With a total fund of €2,800,000 allocated to revitalize these mountain communities, Tuscany is committed to infusing new life into its beautiful landscapes.

This initiative aims to rejuvenate and stabilize the population in these areas, which have seen a significant decline over the years. It’s a concept that has been used in other parts of Italy, including the island of Sardinia (which offered around $15,000), the village of Presicce (about $30,000), the region of Calabria (about $33,000) and the village of Santo Stefano di Sessanio (up to $52,500).

So what do you need to know? As with any of these programs, there are parameters. Tuscany’s grants are designed to cover up to 50% of the costs associated with purchasing and renovating a home in a town with fewer than 5,000 residents. This means not only buying a property but also transforming it into a permanent residence—no vacation homes allowed.

There are 76 towns to choose from, and the locations are appealing. Built on a steep rock, Castelnuovo di Val di Cecina is a small medieval village in the foothills of the Maremma. The spa town of San Casciano dei Bagni—known for its therapeutic thermal baths—is perfect for residents in search of relaxation and wellness. Art lovers might be drawn to Caprese Michelangelo, the birthplace of the artist, Michelangelo. The ancient Castel San Niccolo, in the Arezzo Province, is convenient to Florence. Or perhaps you want to live on an island? Capraia Isola is located in heart of the Tuscan Archipelago.

Another stipulation: Applicants must be either Italian citizens, EU citizens or non-EU citizens holding a long-term residence permit, and they need to commit to registering as residents in an Italian town—and they can’t currently reside in a mountain community.

For U.S. citizens interested in this opportunity, the process involves a few more steps compared to EU nationals. Americans must first obtain a long-term residence permit, which typically requires demonstrating financial stability or an Italian job offer. The permit must last no less than 10 years, aligning with the initiative’s goal of fostering long-term residency and community integration. Once this is secured, applicants need to register as residents in their new Italian locale, ensuring they are fully integrated into the local infrastructure and eligible for the grant.

However, anyone interested should act swiftly. The application window is tight, closing by 1 p.m. (local Tuscan time) on July 27.

To apply, prospective movers can visit the Tuscany region’s official website and complete the necessary forms online.

If ever there was a time to make a bold move and embrace “la dolce vita,” this could well be it. But even if you don’t make the deadline on this one, let this be the inspiration to get started, since there are sure to be more offers like this around the corner.

MORE FROM FORBES:

Articles You May Like

FedEx shares jump after hours as massive cost-cutting measures kick in
Selling a home is expensive, too: Homeowners typically spend nearly $55,000, report finds
Individual retirement account balances are growing — why that can be a ‘tax nightmare,’ advisor says
“Free” For-Profit Senior Services Referrals: Buyer Beware
Nike shares plunge after retailer says quarterly sales will fall 10%, warns on China weakness

Leave a Reply

Your email address will not be published. Required fields are marked *