Banks, taxes and insurance

Bank

If you are an EU citizen, you would theoretically not need a bank account in Sicily. Unfortunately, the practice is still different. This is partly due to the way taxes are paid in Italy (see below).

Our help is generally conservative - even if it is a little more expensive. We therefore prefer to recommend a current account with a large bank such as Intesa Sanpaolo and Unicredit.

Of course, we will support you with all banking matters and will also come with you if you wish.

Taxes

To buy a property in Sicily, you first need a tax number (codice fiscale). When you buy a property, you pay a land transfer tax and then every six months the property tax and a municipal tax, which is used to finance the garbage collection, for example. If you rent out your property, you will of course also have to pay income tax.

As you can see, there is no way around a tax consultant. We will be happy to put you in touch with one and can even come with you if you wish.

Insurance

You do not need to take out insurance for your property. However, we recommend liability insurance for damage caused by your property.

If you rent out your property, we also recommend liability insurance for damage that harm your tenants in your home.

Fortunately, we offer a reputable insurance broker in our network.