If you are an expat in Italy your financial planning will need to meet your personal requirements within the very specific Italian tax and legal frameworks. Our internationally qualified, professional advisers are readily available to make certain you receive expert advice and superb service, bringing you peace of mind. A very important part of this service is to provide ongoing advice. This longer term approach means that you will continue to know that you will continue to be in good financial shape even if your circumstances change, the tax laws change (which happens often) or simply if economic conditions change.
Whether you want to simply know the benefits of a Polizza Assicurativa or QROPS (Qualifying Overseas Retirement Pension Scheme) currency issues or have more complicated matters you wish to discuss such as Residency or Inheritance tax in Italy and how it interacts with UK Inheritance Tax, please contact one of our advisers below.
Moving on from Brexit
Brexit created a number of well-documented issues for expatriates living in the EU.
Financial planning and wealth management were impacted heavily as the Withdrawal Agreement excluded financial services and specifically the passporting of advisory licenses between the UK and EU. This means that many UK based advisers and institutions are no longer able to engage with clients living in the EU.
The Spectrum IFA Group is licensed across the entire EEA and can ensure that your finances are ‘Brexit-proof’, through access to secure, locally authorised, tax-efficient investment solutions.
In countries such as France, Spain, Italy, Luxembourg, Portugal and Malta, you have access to many flexible investment options backed by some of the UK’s largest and most well known financial institutions.
These products, issued from Dublin or Luxembourg, are both EU regulated and highly tax efficient. One of the largest insurance companies in the UK offers a fully French compliant (Dublin based) Assurance Vie. Similarly tax efficient products, designed for expatriates, are available to Italian, Spanish, Portuguese and Maltese residents.
As a result, you can still invest with companies whose names you know and trust, whilst ensuring compliance and tax-efficiency in the country you now call home.
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Gareth has been working with people living in Italy since 2004. He began by providing financial planning exclusively to employees of and retirees from the United Nations based in Rome. However, when the financial crisis hit in 2008/09 this gave Gareth the opportunity he had been seeking to change the focus of his business and take his services to a wider audience around Italy, something that he had been planning to do for a number of years. Gareth now travels the length and breadth of Italy helping his clients who have recently relocated, have been living here for a number of years or Italians who have lived abroad and who are thinking of returning.
Gareth also speaks at events around the country on a regular basis and is the regular financial columnist for a number of local expat newsletters and publications. He ensures that he keeps his local tax and financial knowledge up to date through the many professional contacts he has made over the years.
By now I probably qualify as an Italy “veteran”, having lived here since 2004. Over that time I have gone from naively thinking that whatever skills I had picked up in my working life in the UK and New Zealand would be easily applicable here, to throwing myself 100% into the Italian way of doing things and, after much reflection, adopting what I would call a “hybrid” approach. After a long career in finance I decided that it was time to make the move to being client-facing 100% of the time. My previous experience brought me in contact with substantially all the firms active in the Italian market and I always knew that if I decided to make the move, Spectrum would be the right place for me. The mix of access to foreign institutions of the highest standing, combined with practical, local knowledge of the Italian market accumulated over many years and a focus on quality service over the long term sums up the best approach for clients living in Italy.
The Spectrum IFA Group member, TSG Insurance Services S.A.R.L. (Italy Branch), is an authorised brokerage in Italy.