On January 25, 2018 the European Commission published its “January infringements package: key decisions”. In a reasoned opinion the European Commission requests Italy to lift restrictions on the free movement of capital in relation to investments in real estate.
According to the January infringements package the European Commission has decided to send a reasoned opinion to Italy for excluding EU citizens of non-Italian nationality who do not intend to settle in Italy from a reduced rate regime on their first purchase of non-luxury housing on Italian soil. According to the European Commission this limitation violates EU rules on the free movement of capital (Article 63 of TFEU) which guarantees the right to the free movement of capital in the EU. If Italy does not act within the next two months, the Commission may decide to bring the case before the Court of Justice of the EU.
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