PRICING

The pricing information set out below applies only to services provided by LP LAW Ltd (SRA no. 510081), UK member of the LEP LAW International Network. It does not apply to services provided by members of the LEP LAW Legal Network situated outside the United Kingdom.

LP LAW Ltd is regulated by the Solicitors Regulation Authority and is required to provide pricing information about the following services carried out in the United Kingdom

Purchase of a Property in Italy

ACTIVITIES

The activities required and the various phases of the individual transactions may vary, depending on many factors. However, typically, our services include the following activities:
1. Initial preliminary advice on the process of buying a property in Italy
2. Advice on the tax liabilities connected to the purchase
3. Considering and revising the documentation provided by the estate agency (if any), the seller(s) or their surveyor(s) and advising on the same
4. Liaising with a local surveyor to carry out planning checks and land registry enquiries. Advising on the outcome of the surveyor's report
5. Revising the purchase offer and/or the preliminary contract. Preparing a comprehensive report on the contract, setting out our recommendations on the transaction
6. Instructing and liaising with the Italian Public Scrivener Italian Notary on the client's behalf and arranging for them to carry out the final title searches prior to completion
7. Revising the draft deed and requesting all the necessary changes that we deem necessary
8. Preparing a comprehensive report on the deed
9. Advising on the further steps that may be required after completion in connection with the transaction including Italian succession law and inheritance tax liabilities
Additional activities may be required under certain circumstances, such as assisting with mortgage applications or advising on off-plan purchases, which normally require additional documentation and warranties. In these cases we provide an estimate of the additional charges to be applied to these additional activities

OUR CHARGES

Our fees cover the activities listed above and all additional work required to complete the purchase of the property.
Our legal fees are applied on the basis of the time we expect to spend on the matter.
As of April 2020, the hourly rates of our team members are:

These rates do not include VAT or disbursements. Applicable VAT is 20% in England and Wales. Our hourly rates may be subject to increase on 1 April of each year. Our legal fees reflect the estimate we provide our clients upon confirmation of our initial instructions and after an initial assessment of the work we expect to carry out. Should new or unforeseen issues arise we may need to revise our initial estimate of fees. If this happens, we will provide the client with a revised estimate of our total legal fees and only continue work upon receiving the client’s approval of the revised estimate.

Our fees may vary depending on many factors, such as the complexity of the transaction, the nature of the purchase (resale or off-plan), the value of the property, etc. We charge a minimum fee of £1,200.00 plus VAT and disbursements. Our average fees are £1,900.00 plus VAT. We also charge additional costs that may have to be paid to third parties on your behalf, such as Land Registry fees. We organise the payment of these costs on the client's behalf.

Typically, these additional costs are:

In addition to our legal charges and the costs outlined above, additional charges, taxes and fees apply.
Typically, they are as follows:

This tax is 2% of the official cadastral value of the property if you buy your main home and take up Italian residency or 9% of the cadastral value of the property if you purchase a holiday home. If you purchase a property from a private individual VAT is not applicable. On the other hand, if this is your second property and you are not a permanent resident this tax rises to 9% of the cadastral value.

When the purchase is subject to VAT, the applicable stamp duty is 200 euros. The official cadastral value of a property in Italy is still lower than its actual market value. We carry out land registry cadastral checks upon instructions to provide our clients with a confirmation of the official cadastral value of the property being purchased and the estimated tax applicable

The stamp duty applicable to the purchase of land is 15% of the purchase price. The applicable rate, however, can vary depending on the planning and land registry classification of the land. We can provide a confirmation of the applicable tax once we have carried out our initial land registry enquiries.

VAT

VAT is payable if the seller is a registered company in certain circumstances. The applicable rate varies depending on whether you purchase your main home (4% of the purchase price), or a holiday second home (10%). Exceptions apply to properties categorised as "luxury properties".
When the purchase is subject to VAT a fixed sum 200 euros stamp duty is payable in addition to a fixed sum 200.00 euros title tax (imposta ipotecaria).

TIMESCALE

While the time-scale required to complete a property purchase in Italy can vary, the vast majority of property purchases are completed within 12 weeks of acceptance of the offer of purchase. Longer times are required to complete off-plan purchases as this depends on the estimated time-scale to complete the building works. Mortgage applications may also substantially delay the completion of a purchase if the application is made with Italian lenders by non-resident applicants.

OUR TEAM

Our team has over 20 years of collective experience in delivering high quality legal advice in all matters relating to Italian Real Estate Law. Regardless of who works on your case, they will be supervised by Mrs Laura Protti, Founder of LP Law Ltd.
Laura Protti is the founder of LEP Law and she is dual qualified as an Italian Avvocato and English Solicitor. Laura has over 18 years of experience in Italian Property Law, International Private Law, Contract Law, Succession Law, and Taxation.

Sale of a Property in Italy

ACTIVITIES

The activities required and the various phases of the individual transactions may vary, depending on many factors. However, typically, our services include the following activities:
1. Initial preliminary advice on the process of buying a property in Italy
2. Advice on the tax liabilities strictly connected to the sale
3. CLiaising with a local surveyor to carry out planning reports and land registry enquiries, if appropriate. Advising on the outcome of the surveyor's report
4. Instructing a local surveyor to request the issue of land registry certificates and energy certificates, if required for the sale
5. Revising the purchase offer and/or the preliminary contract. Preparing a comprehensive report on the contract, setting out our recommendations on the transaction
6. Instructing and liaising with the Italian Public Scrivener Italian Notary on your behalf and arranging for them to carry out the final title searches prior to completion.
7. Revising the draft deed and requesting all the necessary changes that we deem necessary
8. Preparing a comprehensive report on the deed
9. Advising on the further steps that may be required after completion in connection with the transaction
Additional activities may be required under certain circumstances, such as assisting with mortgage applications or advising on off-plan purchases, which normally require additional documentation and warranties. In these cases we provide an estimate of the additional charges to be applied to these additional activities.

OUR CHARGES

Our fees cover the activities listed above and all additional work required to complete the sale of the property.
Our legal fees are applied on the basis of the time we expect to spend on the matter.
As of April 2020, the hourly rates of our team members are:

These rates do not include VAT or disbursements. Applicable VAT is 20% in England and Wales. Our hourly rates may be subject to increase on 1 April of each year. Our legal fees reflect the estimate we provide our clients upon confirmation of our initial instructions and after an initial assessment of the work we expect to carry out. Should new or unforeseen issues arise we may need to revise our initial estimate of fees. If this happens, we will provide the client with a revised estimate of our total legal fees and only continue work upon receiving the client’s approval of the revised estimate.

Our fees may vary depending on many factors, such as the complexity of the transaction, the nature of the purchase (resale or off-plan), the value of the property, etc.
We charge a minimum fee of £1,200.00 plus VAT and disbursements. Our average fees are £1,900.00 plus VAT.
We also charge additional costs that may have to be paid to third parties on your behalf, such as Land Registry fees. We organise the payment of these costs on the client's behalf.

Typically, these additional costs are:

In addition to our legal charges and the costs outlined above, additional charges, taxes and fees apply.
Typically, they are as follows:

ITALIAN CAPITAL GAIN TAX

Generally speaking, Italian capital gain tax is only paid when a property is sold within five years of the acquisition of a property via purchase or gift, with the exception of properties used as a main home by the owner or their closest relatives. Income tax rates are applied to calculate the applicable tax unless the seller opts for the application of the alternative fixed rate tax of 26% on the net gain (applicable to sales of properties and rural land). Acquisition costs and fees borne by the seller at the time of the acquisition, such as notarial fees, estate agency’s commission, etc, are to be taken into account. A detailed assessment of the individual case is however always required to provide the client with confirmation of the capital gain tax applicable.

TIMESCALE

While the time-scale required to complete a property sale in Italy can vary, the vast majority of property sales are completed within 12 weeks of acceptance of the offer of purchase. Should the buyers require a mortgage their application may delay the completion of a sale if the application is made with Italian lenders by non-resident applicants.

OUR TEAM

Our team has over 20 years of collective experience in delivering high quality legal advice in all matters relating to Italian Real Estate Law. Regardless of who works on your case, they will be supervised by Mrs Laura Protti, Founder of LP Law Ltd.
Laura Protti is the founder of LEP Law and she is dual qualified as an Italian Avvocato and English Solicitor. Laura has over 18 years of experience in Italian Property Law, International Private Law, Contract Law, Succession Law, and Taxation.