Florence, with its historical and cultural charm, continues to be one of the most attractive destinations for tourists worldwide. This growing tourist influx has led to a booming hospitality market, making the city one of the top destinations for investment in the hospitality sector. In this article, we will analyze the trends in Florence's hospitality market and why it represents an unmissable opportunity for investors. Growth in Tourism and Hotel Demand In recent years, Florence has seen significant growth in tourism, with millions of visitors flocking to the city annually to admire its artistic and cultural heritage. According to data, 2023 witnessed a notable increase in tourist arrivals, surpassing pre-pandemic levels. This trend has been confirmed by hotel occupancy rates, which have reached record levels during certain periods of the year​ (Italia a Tavola)​. The diversification of the tourist offer, with a particular focus on cultural, luxury, and business travel, has contributed to this growth. The city not only attracts international tourists but also business travelers, thanks to numerous international events and conferences hosted in Florence​ (Il Sussidiario)​. Investments in the Hospitality Sector The hospitality market in Florence has seen a significant increase in investments from both national and international operators. In 2023, investments in the hospitality sector in Italy reached €1.6 billion, with Florence being one of the most coveted cities along with Rome, Milan, and Venice​ (Il Sussidiario)​​ (Edilportale)​. A key factor in this attractiveness is the luxury segment, which is driving investments. Five-star hotels represent a significant part of the operations, reflecting a growing demand for high-end facilities. This trend is particularly evident in Florence, where the offer of boutique hotels and luxury residences is continuously expanding​ (Il Sussidiario)​. Opportunities for Development and Innovation Investors find the Florentine market particularly attractive due to the development and innovation opportunities. Many historical buildings in the city are being renovated and converted into modern hotel facilities, offering a unique mix of historical charm and contemporary comfort. This trend not only meets the growing demand for luxury accommodations but also contributes to the conservation of the city's historical heritage​ (Edilportale)​. The adoption of advanced technologies and sustainable practices is another factor that makes the Florentine hospitality market particularly interesting. Investors are increasingly oriented towards projects that promote sustainability and energy efficiency, aspects that are highly appreciated by modern tourists​ (Edilportale)​. Future Prospects and Market Potential The future prospects for Florence's hospitality market are extremely positive. The city continues to be a top destination for tourists worldwide, and the demand for quality accommodations is set to grow further. With a stable real estate market and a constant influx of visitors, investing in the hospitality sector in Florence represents a safe and profitable opportunity​(Il Sussidiario)​​ (Edilportale)​. Moreover, the potential for luxury tourism and business tourism offers further growth margins. Investors can expect high returns, especially if they focus on projects that combine innovation, sustainability, and the enhancement of historical heritage. Conclusions Investing in the hospitality market in Florence is a winning choice for those seeking safe and profitable investment opportunities. The combination of strong tourist demand, growth in the luxury segment, and numerous development and innovation opportunities make Florence one of the most attractive destinations for investors in the hospitality sector. With a continuously expanding market and a promising future, Florence is truly a jewel for hospitality investments. If you are interested in exploring investment opportunities in the hospitality sector in Florence, contact us for more information and specialized consultancy.

Italy boasts a rich cultural heritage, breathtaking landscapes, and a high standard of living. Its real estate market offers diverse opportunities, from charming countryside villas to stylish city apartments, making it an appealing option for those seeking a second home, retirement destination, or investment. Tuscany, with its captivating countryside, historic architecture, and timeless cities, stands out as one of the most coveted markets in the country, maintaining a consistent demand also for residential rental properties. The process of buying property in Italy is generally straightforward, especially with the guidance of a knowledgeable real estate agent (“mediatore”) who can walk you through the process step by step. Necessary documents: Obtain an Italian tax code (Codice Fiscale) from the Italian tax authorities, a relatively quick process. Open an Italian bank account. Valid passport. Proposta di acquisto Once you've identified the property you wish to purchase, you'll need to make an offer, known as "una proposta di acquisto." This proposal is a widely used tool due to its flexible nature. Real estate agents typically provide templates which can be edited. Ensure to include all pertinent details, such as confirming the seller's ownership, the property's compliance at cadastral and urban levels, absence of third-party claims on the property, deed date, conditional terms (such as contingent on mortgage approval), deposit amount, and offer expiration date. An essential aspect to consider in any property transaction is the inclusion of a penitentiary clause. There are two forms of penitential clauses: Confirmatory Deposit (“Caparra confirmatoria”): a sum of money paid (normally 10% of the purchase price) as a mutual guarantee, against breach of contract or as a consideration in the event of withdrawal from the contract. It implies that in the event of a contractual breach by the buyer, the seller retains the deposit as compensation. On the other hand, if the party who received it is in default, the other can withdraw from the contract and demand double the deposit. Either way, the wronged party may pursue judicial enforcement of the contract ie. moving forward with the deed. Penitential Deposit (“Caparra penitenziale”): unlike the confirmation deposit, this clause doesn't empower either party to seek judicial enforcement of the contract. Instead, the injured party can solely claim the deposit. It is imperative to meticulously ascertain which of these provisions is stipulated in the offer to ensure clarity on any monetary transfers between the buyer and seller. Preliminare di vendita Once the offer has been accepted you may decide to stipulate a preliminary agreement (“Preliminare di Vendita”) with the seller which will be registered with the proper authorities. You may also decide to register the preliminary agreement through a notary who will register it in the land registration system (“conservatoria dei registri immobiliari”).  The deadline within the registration must be carried out is: ​ 20 days, if the deed was stipulated privately between the parties; 30 days if stipulated by a notary; 60 days if concluded abroad for a property in Italy. Rogito The final step is the Notarial Deed (Rogito), which represents the definitive transfer of ownership from the seller to the buyer.  This is done before a notary, typically chosen by the buyer; both parties have to be present. The buyer will pay any registration tax (“Imposta di registro”) directly to the notary. At the time of the deed, the buyer pays the remaining amount (agreed price minus the deposit) to the seller usually done by check (“assegno circolare”).

GOLDEN VISA ITALY The Italian Golden Visa - A Path to Residency and Prosperity Italy, with its rich cultural heritage, picturesque landscapes, and delectable cuisine, has long been a dream destination for many, with major cities including Milan, Rome, and Florence. In recent years, the country has not only attracted tourists but also non-EU investors seeking a pathway to European residency. The Italy Golden Visa, also known as the “Investor Visa for Italy,” was introduced in 2017 by the Italian government to promote foreign direct investment. There are several investment options and successful applicants gain residence rights within three to four months. ​ The program grants a residence permit that is valid for five years (2+3). To obtain the visa under the Investor Visa Program, investors must purchase or rent residential real estate in Italy. Permanent residence is possible after five years, provided the investor has relocated to Italy. There is no minimum number of days of mandatory physical presence. ​ Who can apply for an investor visa? • an individual (i.e. natural person) over eighteen years of age; • a foreign legal entity. Qualifying Investments: To be eligible for the Italian Golden Visa, investors can choose from various investment options. The most common pathways include: Italian Government Bonds: purchase government bonds worth at least €2 million. Investment in an Innovative Start-up: an investor can invest in stakes or shares of one of the innovative startups which were approved by Italian authorities, for at least 250.000€. Business Investment: invest at least 500.000€ in listed or unlisted shares in a company that is incorporated and operates in Italy. The company is considered operating if it is in an active state and has already filed at least one balance sheet by the date of the investors application. Philanthropic Donations: invest 1.000.000€ in a project of public interest operating in the field of culture, education, immigration management, scientific research, and preservation of cultural and natural heritage. Benefits of the Italian Golden Visa: Residency Privileges: the Italian Golden Visa grants residency to the investor and their family members, including spouses, children, and dependent parents. Ease of Travel: Visa-free travel within the Schengen Area for short stays (up to 90 days within a 180-day period). Path to Citizenship: the Italian Golden Visa doesn't automatically lead to citizenship, it can though be a stepping stone. Investors can apply for permanent residency after five years and citizenship after ten years of legal residence. Special Tax Regime: the 2017 Budget Law contains several other incentive measures, mainly of fiscal nature, specifically designed for individuals who intend to transfer their residence to Italy. For example, an investor visa holder can opt for the special tax regime for new residents.  Pursuant to the new art. 24-bis of the Consolidated Act on Income Taxes (“TUIR”, Presidential Decree 917/1986), individuals who transfer their tax residence to Italy may opt to pay an annual substitute tax of € 100,000 on income produced abroad, provided that they have not been tax-resident in Italy for at least nine years over the previous ten. This option can be extended to family members, by paying a further annual substitute tax of € 25,000 per family member. The scheme has a maximum duration of 15 years. Application Process The application process for the Italian Golden Visa involves several steps, including the submission of required documents, verification of the investment, and obtaining the residence permit. It's crucial for investors to work with legal and financial advisors as well as certified real estate brokers to navigate the complexities of the application process successfully. Our group provides experienced lawyers specialised in the Golden Visa Application and real estate professionals who can guide you through the entire process. In conclusion, the Italian Golden Visa program presents a golden opportunity for investors seeking a blend of cultural richness, economic prospects, and European residency. It carries important advantages from a special substitute fixed tax regime on income produced abroad as well as the possibility to enter in the Schengen area.  As Italy opens its doors to investors from around the world, the program serves as a testament to the country's commitment fostering economic growth. For those with a penchant for la dolce vita, the Italian Golden Visa is more than a residency program, it is a gateway to a life enriched by the beauty, history, and opportunities that Italy has to offer