Starting in 2027, the country plans to introduce a tax targeting wealthy investors relocating abroad. The proposal is included in the draft budget for next year. The proposed tax rate is 26%.

The tax will apply to individuals who have been Italian tax residents for at least 6 of the previous 10 years. Their total asset value, including shares, company stakes and securities, must amount to at least €800,000. The measure will apply where Italy loses the right to tax the relevant capital gains following an individual's relocation.

For example, if your investment portfolio is worth €1.2 million and has grown to €2 million by the time you relocate, the tax bill will amount to €208,000. In other words, the 26% tax will be levied on the €800,000 in capital gains.