Italy has some amazing programmes for expatriates who are citizens of countries outside the European Union.
The Golden Visa programme rolled out by the Government of Italy has been particularly lucrative for citizens of countries outside the European Union who are looking to make investments in Italy. Malta, Spain and Portugal too offer similar programmes but Italy’s Golden Visa is more lucrative because it allows expatriates to invest not only in real estate but also in startups, LLCs and even government bonds. From Hollywood actors to international athletes, many have been tempted by the Golden Visa in Italy.
One among them is Hollywood actor Willem Dafoe, who most notably played the villain in Toby McGuire’s Spiderman series. He is married to the Italian actor, director, and screenwriter, Giada Colagrande and has been living in Italy. He has since moved to Italy and earned a dual citizenship which is split between the United States of America and Italy. We will explore how Willem Dafoe taxes and investments are filed as a non-European Union citizen living in Italy.
From Investor to Citizen through the Golden Visa
The Golden Visa in Italy allows non-European Union citizens a two-year-long Italian visa which allows them to make large investments within the country. Later, if they decide, then they can choose to become citizens of Italy. This is generally the step forward taken by most people who have the Italian Golden Visa and make profits on their investments in Italy. This is better than a traditional visa as it allows more freedoms and is the path to eventual Italian citizenship. This is how Willem Dafoe taxes are recorded in Italy as he used to be a non-EU citizen who has now become an Italian citizen.
Becoming an Italian citizen has its perks as well. You are treated as any other citizen of the European Union and enjoy all the benefits. Movement and access to the Schengen area is free for you like all other people who are citizens of countries within the European Union. You can also invest in real estate and businesses in other countries within the European Union freely as an Italian citizen.
These perks tempt people from all around the world to try to get the Italian Golden Visa. By investing in real estate or business, Willem Dafoe taxes are more profitable than it would be if he had continued staying and investing in the United States of America. This is why a number of non-European Union citizens opt to apply for this visa. Other countries like Spain, Portugal, Malta also offer variations of this kind of Golden Visa but it is the Italian Golden Visa which has been known to be more profitable.
One thing to keep in mind is that Italy does not allow citizenship through investment only in real estate. So, if you are aiming for an Italian citizenship, then the Italian Golden Visa is the way to go because it allows for investment in real estate and businesses as well.
Italy is one of the most lucrative places to live and invest in and most people including film stars and world famous athletes want to take advantage of this. So, the Italian Government has decided to cooperate with them and has provided the Golden Visa so that they can live and invest in Italy peacefully. Eventually, they can also become citizens of Italy if they would choose to do so. It is easier to do taxes with the Golden Visa. This is why Hollywood actor Willem Dafoe taxes are done in Italy.