[BUYING AND SELLING REAL ESTATE IN ITALY] 147
including the right to purchase property in Italy. From a subjective point of view, this rule does not apply in case of: - citizens of EU Member States, as well as citizens of EEA countries; - non-EU citizens residing on Italian territory and holding a residence card or a regular residence permit issued for reasons of employment, self- employment, running a sole proprietorship, family reasons, humanitarian reasons and study reasons; - stateless persons who have been residing in Italy for at least 3 years; - refugees who have been residing in Italy for at least 3 years. At the same time, with specific regard to real estate investments made by foreign investors within the Italian territory, it is recognized an exemption to the verification of the mutuality condition for those nationals of the countries with which Italy has concluded Bilateral Investment Treaties (BITs). Indeed, the specific provisions provided by the BITs are considered as a “lex specialis” which replaces the general rule stated by article 16.
ILN Real Estate Group – Buying and Selling Real Estate Series
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