The GuardianThe Guardian

Global super-rich head to Italy for tax breaks and dolce vita

By Angela Giuffrida

09 May 2023 · 4 min read

Editor's Note

A "tantalizing" tax regime introduced by Italy's government is drawing foreign billionaires who are turning their backs on traditional havens like Switzerland and Dubai. The Guardian reports.

The vast rooms of Palazzo Raggi, an 18th-century architectural jewel a stone’s throw away from Rome’s Spanish Steps, were once lived in by an illustrious noble family and a host of cardinals and other historic characters hailing from Italian aristocracy.

Now the six-storey building, which stood derelict for years, is being revived as it prepares to welcome a new class of inhabitants: the foreign billionaires who are turning their backs on the likes of Switzerland, Dubai or the Cayman Islands and moving to Italy to taste the dolce vita and, moreover, the financial benefits of a tantalising tax regime.

Sign in to informed

  • Curated articles from premium publishers, ad-free
  • Concise Daily Briefs with quick-read summaries
  • Read, listen, save for later, or enjoy offline
  • Enjoy personalized content