To obtain a residence permit, you must practically buy an apartment or house – because there is very few and sometimes no property available for rent. Usual police clearance from the Italian authorities as well as approval of your application by the local authorities is also required. While residence permits are issued by Italian authorities, access to the territory of Campione is governed by Swiss visa regulations. This means that the passport you hold should allow you to enter Switzerland without a visa, or you will have to apply for a Swiss visa beforehand. While it used to be possible for non-EU citizens to apply for residence permits directly at the Questura in Como, which has jurisdiction over Campione, this is now no longer possible. For non-EU citizens, applications for residence as a financially independent person now need to be filed with the Italian consulate or consular section of the Italian embassy in the country where the applicant is resident. This considerably delays the process. For EU-citizens, of course there is no problem as they have the right to move to Italy at any time provided they can show sufficient funds to support themselves and their families. There is a small and rather expensive real estate market served by a few local real estate agents. As there is virtually no property available for rent, you have to practically buy an apartment or house before you can establish residence in Campione as the proof of suitable accommodation is one of the conditions for granting a permit.
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Residents of Campione do not pay the full Italian income tax. Based on a special provision in the Italian law, the first CHF 200,000 income are exchanged into Euro, the official currency, at a special exchange rate. This results in a lower effective income and consequently a lower tax rate is applied. However, contrary to popular belief, this is the only special tax concession applicable to Campione residents, and in principle, if you are resident in Campione, you still need to declare your worldwide income as the same tax laws and regulations apply as in Italy. Therefore, the advantages of residence in Campione are not really that attractive. The myth of Campione as a tax haven is largely based on the fact that foreigners residing in Campione normally do not declare fully their worldwide income. This is of course not legal, but because of the special situation of Campione as an Italian enclave entirely located within Switzerland, the Italian tax authorities cannot exercise sufficient control. Of course, this special situation cannot be the basis of professional tax and estate planning, and that is why |
Campione is, compared with other jurisdictions in Europe that offer tax advantages to its residents, relatively unattractive from a tax planning point of view. |
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As in Italy proper, there are of course no inheritance and very limited gift taxes, and income from interest is taxed at a special, reduced rate of 12.5% only. With proper tax planning from the outset, one can enjoy considerable advantages as a resident of Campione, and indeed in the whole of Italy.
Note that Campione is only interesting for establishing personal residence, as the tax advantages do not extend to companies or other legal entities based there.
Thanks to Campione’s advantageous geographic and political position, residents enjoy many of the benefits of living in Switzerland - they spend Swiss francs in their spotlessly clean bars and restaurants, their telephone service and Internet access is through the efficient Swiss telephone network, and their mail is delivered by equally efficient Swiss postman. Even car number plates are Swiss.
Those are some of the practicalities, but also the location is excellent. The joys of living here include easy access to some of Europe’s best mountain skiing, summer hiking in alpine pastures, boating on mirrored lakes. And for connections to elsewhere, Campione is probably one of the best locations in Europe: within 90 minutes you could be shopping in Milan, where there is also an international airport with excellent connections. In a little more than two and a half hours the Cisalpino fast train takes you to Zurich, and if you need to be in Switzerland's financial capital even faster, one can take the plane from the Lugano-Agno airport.
Some of the many advantages of being resident in Campione d'Italia:
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Political, social and economic stability |
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First-class Swiss infrastructure |
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Swiss Franc is the official currency |
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Banking through Swiss banks with Swiss banking secrecy |
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Attractive lifestyle in a quiet, clean environment |
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Efficient and reliable public services |
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Swiss postal services, telephone numbers and car registration plates |
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Effectively resident in Switzerland - with E.U. residence permit |
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No value added tax (VAT) |
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Some income tax concessions, no inheritance or gift tax |
Further Information
For more information about residence in Campione, contact Henley & Partners. Through our offices in Zurich and representative offices in Lugano and Campione itself, we are in the best position to advise and assist you with all matters regarding residence in Campione as well as in Italy and Switzerland.
