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Real Property Purchase In Italy

Procedure for acquisition of real property in Italy

Покупка недвижимости в Италии

Italy has no restrictions on the purchase of real property by foreign nationals, whether physical or legal. The only exception is the ban on the purchase of agricultural land.

Where to begin.

First step in buying foreign real estate - searching for an Internet site, specialized exhibitions, thematic printed publications, etc. The real estate agency can also be directly contacted. This may be an Italian agency; or a representative of an Italian Real Estate Sales Company located in our country; or a Russian company that sells real property through Italian partners.

Before a final decision is taken on the acquisition of real property abroad, the buyer is advised to examine the facility itself. Some Russian companies provide an inspection tour in Italy. The cost of the tour is often calculated individually and depends on the duration of travel, place of residence, availability of additional services (e.g. sightseeing). The cost also includes air operations. As a rule, the induction tour lasts a week and includes hotel accommodation, predetermined facilities, legal advice. The company representative is accompanying you to the site inspection. Usually, a potential buyer searches five to six facilities a day.

Remote acquisition capability

If the buyer is unable to attend the transaction in person, the interests of the buyer may be represented by a trustee. In this case, the notary must have confidence. The trust is established in the country of permanent residence of the trustee. Apostille (which takes about six days), then translated into Italian. Translation can be assured both in the Italian Consulate in Russia and directly in Italy.

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