Buying property in Italy as a Canadian – is it hard?

Italy has both bustling cities and relaxed countryside and beaches, with plenty of options for working expats, students, and retirees seeking a quiet life. Housing outside the major cities is relatively cheap for Europe – and there are even the well publicised 1 EUR houses which are ripe for renovation if you’re looking for a project.

So – can Canadians buy property in Italy? Buying a home in Italy should be fairly stress free – but it’s important to note that you can’t use your real estate investment to secure a visa. This guide explores your options and introduces Wise for making cross currency payments from CAD to EUR with low fees and the mid-market rate.

Can Canadians buy property in Italy?

Yes. Italy doesn’t have any rules preventing foreigners including non-EU nationals like Canadian citizens from buying property or land.

If you’re buying a place overseas it’s important to have a realistic budget, including costs for currency conversions and cross border payments. Using a provider like Wise can help limit exchange fees, while offering secure and speedy payments to Italy. More on that later.

How difficult is the process?

The process for buying a property in Italy isn’t unusually complicated, but as with large purchases anywhere there are a few steps, and you’ll need a legal advisor on hand to guide you through some of them.

Getting a local lawyer or solicitor shouldn’t be too tricky, and many professionals have experience working with expats and can offer English language support.

Even when working with a lawyer, you’ll need to gather a few documents to make sure the purchase can go through smoothly. Here are some to know about in advance:

Codice fiscale (tax code)

The codice fiscale (tax code) is a tax identifier you’ll need to buy a home, set up a bank account, pay taxes and communicate with government agencies.

You can get it in person via the Agenzia delle Entrate (Revenue Agency) if you’re physically in Italy or you can also get it from overseas Italian consulates and embassies.

Proof of ID and proof of funds

As with most countries, Italy has strict laws to prevent money laundering and financial crime, which means your solicitor is obliged to check your ID and where the money you’re using for the purchase originated from.

Expect to be asked for your passport and residence documents if you live in Italy already. You’ll also have to provide paperwork to show where your money comes from, such as salary statements, an employment contract or proof of the sale of assets in Canada if that’s how you’ll fund your new home in Italy.

Other important documents

As with any legal process there are a few other important documents your solicitor will need to check, which can include:

• Title deeds to prove legal ownership of the property
• Land Registry Plan (Planimetria catastale) and any relevant Building Permits to show the property has been legally constructed
• Energy Performance Certificate (Attestato di Prestazione Energetica)

Other documents may also be needed – check with your solicitor to make sure you have seen everything required to allow the purchase to go through smoothly.

Typical timelines

How long it takes to buy a property in Italy will depend a lot on the type of home you choose, as well as the situation the seller is in. You’ll usually find it takes two to three months to go from making an offer to closing on your new home and getting the keys.

Your notary can offer advice about the likely timelines based on your specific situation.

Transferring money to Italy for the purchase

Buying a home in a different currency will mean paying some costs for currency exchange and secure transfers. However, using a provider like Wisecan help you bring down fees overall.

With Wise you get the mid-market exchange rate with low variable fees and automatic discounts when sending 35,000 CAD or more over the course of a month.

Set up a Wise account online or in app and make CAD – EUR transfers to the seller directly as needed. Or if you’re moving to Italy and have a bank there already you can also use Wise to move money there in advance, with a great rate, ready for closing on your new home.

What are the tax implications?

When you buy a property there are often tax considerations – plus you may need to pay taxes if you use your new place to generate an income or as an investment to sell later.

This guide is for information only. Get professional tax advice to navigate the tax implications of your new Italian home both in Italy and in Canada.

In Italy

There are one off costs when you buy a property in Italy which can include:

• Imposta di Registro – transfer tax – this is usually 2% of the purchase value for a first home and 9% if you’re buying a second or holiday property in Italy
• Imposta Catastale – Land Registry Tax – this is usually 50 euros if you’re buying a property on the private resale market
• VAT – VAT may apply if you’re buying a property from a company such as a newbuild. Rates vary from 4% to 22% depending on whether it’s your first or second home and how it’s classified

Your home will also have ongoing costs which you need to build into your budget. For example, you may need to pay IMU (Imposta Municipale Unica)depending on how you use your home. Waivers may apply if your property in Italy is considered to be your primary residence.

The waste tax – TARI (Tassa sui Rifiuti) – is also likely to apply, which varies based on the size and location of the property. You’ll also have to pay Italian income tax if you let your home and make rental income from it.

Get advice to check you understand and comply with all of the tax rules in Italy for your new home there.

In Canada

You may need to complete tax filings in Canada annually, or when you sell your Italian property, depending on the situation and your tax residency.

If you have specified foreign property worth 100,000 CAD or more you need to complete and file T1135 Foreign Income Verification Statement annually with the Canada Revenue Agency (CRA). This is intended to prevent tax avoidance.

Here the rules are relatively complex – you may be exempt from reporting in some cases if the property you own is used for personal purposes only. However, you’ll need to get advice on this to ensure you understand your obligations. If you need to complete this step, you can file on the same date as your income tax return.

There are a few other situations where you might need to report to the CRA – if you rent out your property, for example. In this case you might have to report income as part of your normal tax filing if you’re a Canadian tax resident.

If you sell your property you may also need to report this for capital gains. Exactly what tax you may owe and where depends to an extent on your residency.

Local laws and regional variations

There are pretty much no restrictions for foreign buyers in Italy, but you will need to check your property has proper planning permissions before you buy – your lawyer can help.

What buying property gets you

Having a place in Italy may be a dream because you plan to live there full time, or use your new home for vacations. Or perhaps you’re thinking longer term and looking to make some income from rent and then sell it on later. Both are great reasons to buy a property in Italy.

It’s helpful to know that having a property in Italy does not mean you can reside there visa free, although there are other routes to residency which may still suit Canadians instead.

What buying property does not get you

As we’ve seen, having a property in Italy does not get you a visa. At the time of research (April 2026) as a Canadian you can come to Italy for 90 days in any 180 day period. No additional visa is needed for this as long as you do not stay in any Schengen country for longer than the 90 days.

There’s also a proposal to bring in ETIAS (European Travel Information and Authorisation System) processes which may add in another step for Canadians coming to Europe, but this is not yet live at the time of research.

If you want to stay in Italy for longer than 90 days, or if you’re intending to work or study while you’re there, you need a visa in advance. Italy has a good range of visa options, including some innovative solutions such as remote worker visas and digital nomad visas which can appeal to Canadians who want to work in Italy for overseas clients or employers.

To learn more about the visa options available and suitable for your needs, contact the Italian Embassy or Consulate closest to your home.

Renting out your property: is it allowed?

If you’re buying a property in Italy as an investment and plan to rent it out you can usually do so. There are rules in place to ensure properties used for rental are safe and compliant, and you’ll need to register your home as a rental unit with the authorities before taking on tenants.

Before renting out your new home it also helps to understand the rules around Italian income tax. You’ll need to file for Italian taxes, and report the profits you make from rent as income.

Buying land in Italy

Canadian citizens can buy land in Italy with no specific restrictions. The process works very similarly to buying a property.

Getting a mortgage: should I get one in Italy or Canada?

Italian banks are used to dealing with foreign and non-resident buyers and can offer mortgages for foreigners in many cases. The deposit needed may be fairly high, but this can still be a good choice for many Canadians.

If you’d prefer to get a mortgage at home in Canada you may be able to do so through a large bank with an international presence like HSBC. However, many Canadian banks do not have mortgage provisions for overseas properties. Working with a broker experienced in overseas mortgages may help your chances if you’re thinking of following his route.

If you decide to take out a EUR mortgage locally in Italy, bear in mind that currency conversion costs from CAD – EUR may push up your monthly bills.

Using a low cost currency service like Wise can help you minimize the fees you pay for international transfers, and bring down your bills in the end.

The verdict: should you buy a house in Italy as a Canadian?

If you’re dreaming of a property in Italy as a place to live, work, study or retire, you’re not alone. Italy has large expat communities and is a very popular location for investors, thanks to the great climate, friendly people and relatively affordable prices.

If you’re thinking about investing in a new place abroad, use Wise to send money from CAD to EUR with low costs and secure, fast payments whenever you need them.

Pros	Cons
✅Visa options for people who want to work, study or retire ✅Large and established expat communities in many areas ✅No restrictions on foreign home ownership ✅Relatively low housing costs ✅Many English speaking agents and legal advisors available to support	❌Property prices may go down as well as up ❌Exchange rates can change your mortgage payments ❌Taxes apply on rental income

Useful resources

Real estate agents

Find real estate agents by location and need here, or check out these as good places to start your search:

• Italia Casa
• Idealista
• Abode

Main expat areas in Italy

• Rome – Popular for career opportunities in a city which caters well to expat families with international schools and multi-lingual services
• Milan – One of the most diverse regions of Italy with huge expat communities involved in finance and fashion
• Lake Como (Lombardy) – One of several areas popular with retirees, thanks to beautiful scenery and excellent connections to Northern Italy and the rest of Europe