NEW ITALIAN LAW WHEN BUYING PROPERTY IN ITALY
CODICE FISCALE – What it is & how to get it? All clients who buy property in Italy will NOW need to obtain a Codice Fiscale, or Fiscal Code, before the signing of contracts. This is a prerequisite of a new Italian law and will be enforced by Italian notaries. It is the equivalent of a National Insurance or Social Security Number.
Every single person who wishes to purchase property in Italy needs a Codice Fiscale before they can do so, and to help our own clients, we have made arrangements that will ensure all our clients obtain their CF while they are in Calabria.
As we have always complied with Italian law, we have ensured, since being informed of the Codice Fiscal requirement, that all our clients have applied for their CF as a matter of course.
Due to the number of properties that have been sold, our developer has been able to negotiate with the relevant authorities to draw a line under the properties sold, prior to the notification, with the exception of Villaggio Bergamotto and Collinetta. Our solicitor has already sent out a power of attorney to obtain a CF on behalf of clients who own properties in these developments.
Having a Codice Fiscal is of extreme benefit to the property owner as it absolutely and completely identifies the client as being the sole owner! |
