Il Paese dove godersi la Pensione? La Bulgaria. – VR and Partners

Living with an Italian pension abroad? The best choice at the moment is Bulgaria. But let's go in order.

The news is recent: starting from 1 January 2024, Portugal will stop applying the 10% preferential tax rate on pensioners coming from foreign countries such as Italy and who chose to live out their retirement years along its Atlantic coasts . This taxation, over the last few years, had attracted many Italian pensioners attracted not only by the advantages of collecting the Italian pension but paying taxes in Portugal, but also by the well-being deriving from the good climate and good food of the Portuguese nation. In general, in addition to Portugal, there are many different countries that host Italian pensioners. It is estimated that there are around 350 thousand, for a total of 1.5 billion in total checks paid by INPS and sent outside the border.

What happens now? It happens that once the Portugal option has been chosen, the choice of the best destination in which to live and enjoy one's country opens up. A choice for which we feel we can propose Bulgaria without fear of contradiction. Why Bulgaria and not Cyprus or Romania which also offer preferential taxes? Because there are many considerations that must be made when deciding to change one's life and country and go abroad and the economic evaluations must also follow various channels, all of which must be analyzed in order to then arrive at a decision that brings together all the information received. In other words. Why is Bulgaria currently the ideal nation to enjoy the pension provided by INPS?

We at VR and Partners have 3 reasons: the first is obviously the Bulgarian taxation, which is super advantageous, with a universal flat tax of 10% which applies to all incomes without any limit. And this is already a great saving because in itself it halves the tax bills compared to the average IRPEF that is applied to Italian pensioners. But if we stopped only at taxation we would not yet have put in place all the pieces that make us prefer Bulgaria. In fact, there is a second equally important one which is the cost of living. Here Bulgaria beats the rest of Europe with a very low cost of living which doubles the value of one's pension. What does it mean? It means that if your pension allowance is 1000 euros, in Bulgaria its value is double because everything costs on average half as much as in Italy. It's like receiving a pension twice a month because you spend less on food, rent, restaurants, entertainment, etc.

A third reason that we would like to underline is that life is good in Bulgaria. The services work well and if you choose to live along the coastal cities you can enjoy a climate similar to that of cities like Milan and Turin all year round. Of course, you have to be careful. At what? If you decide to move to Bulgaria to access the tax and cost of living advantages listed above, make sure you do so by following all the rules that keep you away from double taxation, the Bulgarian and the Italian ones. A nightmare that would practically cancel your pension check. How to avoid these nasty surprises? Avoiding the clutter and relying on serious and renowned companies such as VR and Partners which for years have also taken care of those Italian pensioners who decide to go and live abroad. We at VR and Partners will not only follow you in all the procedures needed to obtain Bulgarian residency but we will also give you all the information to maintain it and to avoid falling into double taxation.