greenempire

Hello everyone,
I’ve just joined the Forum. I’m currently selling my flat in London, with a view to using the proceeds to purchase a house in Italy and provide my partner and I with nest-egg to live on. My partner is planning to rent his place in London so we have some extra monthly income. We are also hoping to get a place with an annex/outbuilding for self-catering hire as some additional income.

My partner is coming up to retirement age, and although I have plenty of working years in me, I feel my employment prospects would be limited as a stranieri with limited fluency in Italian, and of course, I don’t want to have get a job if I can possibly help it.

I understand that part of the residency criteria is “proof of funds/sufficient funds”. My question is how much do we actually need to have in the bank? Is there a formula that the Italian authorities use to calculate exactly how much is "sufficient" to define us as having independent means to allow us to stay?
Any replies would be very gratefully received.

Best wishes to all

TestaRossa

You show a lump sum in your account of about €10k for a couple or pro rata for a year in 3months bank statements. That is what Florence wants anyway. Assuming the max. is €15k for a family anything over €1500/month would do it. Also Brussels is trying to prevent Italy from doing this any more, if it succeeds it will go through in July I believe.

greenempire

Lovely that's fantastic, thank you very much for your reply!

Kenny and Moe

Hi TestaRossa,
Why are Brussels putting a stop to the finances thing, is it that other countries don't do it? Just interested really
Kenny

TestaRossa

It is discriminating against other EU citizens, which is against the EU ethos. Don't know if other countries do it or not. I know Spain doesn't, my OH has just got residency there with no problems - he just applied, the police checked it, residency arrived.