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Italy becomes new billionaire haven: Experts warn of tectonic consequences
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Italy becomes new billionaire haven: Experts warn of tectonic consequences
Italy’s plan to lure wealthy foreigners from the UK is increasingly bearing fruit. The initiative, dubbed ‘svuota Londra’ or ‘empty London’ in private wealth management circles, has seen waves of wealthy individuals moving to Italy, and particularly to the financial hub of Milan After British political parties scrapped a preferential tax regime for so-called non-domiciled taxpayers, many wealthy UK residents decided to move. Italy seized the opp…
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