Property prices
#16
Just Joined
Joined: Nov 2012
Location: London and Emilia Romagna
Posts: 7
Re: Property prices
Gotcha. Sorry. Hadn't realised. Won't do it again..
#17
BE Forum Addict
Joined: Dec 2009
Posts: 2,516
Re: Property prices
Just to point out that to sell property - ie be an estate agent you need to have the licence, pass the exams and have a partita IVA and be registered at the REA. A geometra cant be an estate agent, conflict of interest. Any other way is classed as being abusivo, and is illegal. The fines are large, 15000 euro per property sold. New legislation will also bring jail terms and annulment of the act of purchase. There are also fines for the buyer and seller being complicit in tax evasion and fraud. The agent must be cited in the act of sale with their commission stated. Buying and selling in Italy is not an easy business, you need to know what you are talking about, or the client can sue you and you can be forced to buy back the property you sold. Practise illegally and you will be denounced by a legal agent.
Last edited by modicasa; Nov 7th 2012 at 9:29 am.
#18
Just Joined
Joined: Nov 2012
Location: London and Emilia Romagna
Posts: 7
Re: Property prices
From the reasearch I've done, and having spoken to the Italian camera di commercio in London, I understand that a UK company, registered here, is subject to UK law and UK taxation even if it has Italian clients, in which case what you have described does not apply. Is that not the case as you understand it? Thank you for your advice. Paying taxes fully and properly is, in my view, and I may sound old-fashioned and pompous, the basis of a civilised society so I would never dream of evading or avoiding it. The conflict of interest issue would surely only apply, if at all, if the geometra wished to maintain two jobs, which he doesn't. Is that not the case? Am now very worried that the advice I have sought is not correct. Thank you!
#19
BE Enthusiast
Joined: Oct 2009
Location: pretoro abruzzo italy
Posts: 436
Re: Property prices
Just to point out that to sell property - ie be an estate agent you need to have the licence, pass the exams and have a partita IVA and be registered at the REA. A geometra cant be an estate agent, conflict of interest. Any other way is classed as being abusivo, and is illegal. The fines are large, 15000 euro per property sold. New legislation will also bring jail terms and annulment of the act of purchase. There are also fines for the buyer and seller being complicit in tax evasion and fraud. The agent must be cited in the act of sale with their commission stated. Buying and selling in Italy is not an easy business, you need to know what you are talking about, or the client can sue you and you can be forced to buy back the property you sold. Practise illegally and you will be denounced by a legal agent.
#21
BE Forum Addict
Joined: Dec 2009
Posts: 2,516
Re: Property prices
Of course you can sell a house privately, but to operate as an estate agent in Italy, whether or not you are UK registered, you must be registered (and resident) in Italy. It is illegal to charge fees or commission on property sales if you act as an intermediary - as you must be registered with IVA etc. UK based companies that act as 'property finders' are not estate agents - and if they are paid for their services it must be declared at act - which takes us back to square one.
An estate agent in Italy may only have one job - ie if your partner is a geometra and iscritto nel'albo for geometras he would have to rescind his inscription as a geometra to act as an estate agent. HE would also have to do the course, pass the exams and be registered at the CCIAA
The CCIAA in London is incorrect. If any part of the business takes place on ITalian soil then the sale falls under Italian law, and is taxable and accountable in Italy.
An estate agent in Italy may only have one job - ie if your partner is a geometra and iscritto nel'albo for geometras he would have to rescind his inscription as a geometra to act as an estate agent. HE would also have to do the course, pass the exams and be registered at the CCIAA
The CCIAA in London is incorrect. If any part of the business takes place on ITalian soil then the sale falls under Italian law, and is taxable and accountable in Italy.
Last edited by modicasa; Nov 7th 2012 at 2:34 pm.