Leo, let's discuss taxation, retirement, and social security for long-term immigrants in France and Italy. It's crucial for anyone considering settling down long-term.
Absolutely. Where should we begin?
Let's start with France. Long-term residents experience the full French tax system – income tax, social security contributions, and potentially wealth tax. It's progressive; higher earnings mean higher taxes.
So, it's not a simple "bonjour" to the taxman and then moving on?
Not at all. Now, Italy. Income tax is progressive, and social security contributions are substantial. However, these fund healthcare and pensions.
What about social rights for immigrants in France?
France is generous to legal residents, offering healthcare, unemployment benefits, and family allowances regardless of origin.
And Italy?
Italy provides similar benefits – healthcare, maternity leave, and family support – but eligibility might depend on employment status or residency length.
What about retirement?
In France, sufficient social security contributions entitle you to a state pension. The retirement age is around 62, but you might need to work longer for full benefits. In Italy, the retirement age is around 67, and the pension depends on contributions. Insufficient contributions may require private savings.
Any significant differences?
France's system is generally more straightforward, though taxes are higher. Italy's system is more complex, with regional variations and a greater reliance on private contributions.
Final thoughts for our listeners?
Thorough research, professional advice, and preparation for extensive paperwork are essential. But remember, you'll be living in two beautiful countries.
Precisely! And remember to utilize resources like jetoff.ai to assist with your international move. Enjoy the food and wine while navigating the tax systems!
Indeed! Until next time, ciao and au revoir!