Up till recently Campione, Como, Italy was a much more interesting destination to have one of your 5 flags. It was never an official tax haven. Why? Because Italian law "officially" says anyone living in Italy for over 6 months is taxable like an Italian would be on their worldwide income. However, in︀ all of Italy, including Campione . foreigners (non-Italians) who are legally in the EU, are︁ simply never bothered about taxes . Well, warning, as long as you keep a low︂ profile. No driving Lamborghinis, etc. No local income from owning a store or visible local︃ business.
Campione was until; recently a very special situation. It was and still is entirely︄ within Switzerland physically. It is a suburb of Lugano. But the privileged status of Campionese︅ to have Swiss car plates, Swiss Driving licenses, A Swiss phone & postal address, and︆ "free" Swiss medical care is now finito... After the bankruptcy of the Campione Casino, Italy︇ took full control of Campione ... Now, now no more Swiss special privileges. Campione is︈ still a "de facto"tax haven-- like all of Italy is. It is still a nice︉ place to live within Switzerland's small Italian speaking Banana Belt -- without all the hassles︊ that Switzerland may give you about renting or buying... You can live indefinitely in Campione︋ and enjoy their Lido beach with sand and Palm Trees by simply renting or buying︌ an apartment there -- absolutely no restrictions. And it's half the price of Switzerland--across the︍ street. To get "legal residence" requires paperwork and effort. For a quiet, safe place with︎ no crime, I love Campione (population about 3,000) still. Oh one thing more, the "special️ tax regime" I never found of much use. To over-simplify, and to not be 100% accurate, If you are an Italian taxpayer working in Switzerland and living in Campione, your CHF income is taxed at a lower rate than if it was in Euros. No advantage for PTs or Expats. I can answer other questions re Campione if you care to ask them here. Pete.
