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Local Italy
3 days ago
- Politics
- Local Italy
A two-minute guide to Italy's citizenship referendum
What exactly is the vote on? Italians are voting on June 8th and 9th in a referendum which asks the question of whether the waiting time to become eligible to apply for Italian citizenship via residency (also known as naturalisation) should be cut from the current ten years down to five. You can find a full explanation of the referendum question here. There are also four other referendum questions relating to workers' rights, plus local elections running at the same time in some areas. And no, you don't have to vote in all of them. Would this make it easier to get citizenship? In a sense, yes, as the proposed change would obviously mean that those who are eligible would face a much shorter wait. However, it wouldn't change any other aspect of the requirements, which include proving income and language proficiency. And it wouldn't increase the number of people eligible to apply. Italy is often seen as having some of the toughest naturalisation rules in Europe. A five-year wait instead of ten would bring its process in line with that of countries including the UK, France and Germany. But didn't Italy just change the law on citizenship a few weeks ago? Yes, on citizenship via ancestry. The government unexpectedly brought in tight restrictions slashing the number of people eligible to apply for citizenship via the ancestry, or descent, route back in March. There was no referendum on that; the rules were abruptly changed with what many people thought was questionable use of an urgent decree. Those rules got final approval from parliament in May (with some amendments) and are now law. It might sound bizarre and contradictory that the country is now asking its citizens to vote on making it easier to apply for citizenship through residency just a few weeks later. It's coincidental timing, but the two proposals came from opposite sides of the chamber. The change to ancestry rules came from the ruling hard - right coalition, and the referendum was proposed by left - wing opposition parties. You can read more about the changes to these two different citizenship routes here. Is this reform likely to pass? Polls have suggested that around half of the Italian electorate would vote Yes in the referendum. But the bigger question is how many will actually vote? In referendums in Italy, voter participation needs to hit 50 percent. But turnout is generally lower than that, and declining. Of 77 referendums held over the past 50 years, only 39 met the voter threshold. And only four of those were in the past 30 years. According to Italian media analysis, this time voter participation is expected to be around 30 percent. If the 50-percent threshold isn't reached, the referendum result will be declared invalid, whatever it is. Who can vote and how will it work? Italian citizens over the age of 18, including Italians living abroad and registered with AIRE, can vote. Polling stations will be open between 7am and 11pm on Sunday, June 8th and between 7am and 3pm on Monday, June 9th. If you're eligible, you can find out more about how voting works here. When will we know the result? As always with elections, this is hard to say but referendum results in the past have often been announced the next day or, at most, a couple of days after polling. This will also depend on voter turnout. If not enough people vote and the 50-percent threshold (see above) isn't met, this is likely to become apparent fairly soon after voting ends. We'll continue to bring you all the latest updates on The Local.
Local Italy
13-05-2025
- Business
- Local Italy
How does Italy's 'impatriate' tax rule work in 2025?
If you're a person of working age who's considering moving to Italy, you may want to look into its lavoratori impatriati or 'inbound workers' tax regime. The scheme, which was introduced in 2015, provides significant tax breaks for highly-qualified workers who relocate to Italy after being out of the country for at least three consecutive tax years. It was watered down in 2024 but still offers some fairly substantial savings for those who qualify under the new rules. The regime primarily targets Italians who've gone abroad for work, which is why it's alternatively known as the Regime per il Rientro dei Cervelli or 'Reverse Brain Drain' scheme. But there's nothing stopping foreign nationals with the right to work in Italy from taking advantage of it. According to Italy's Revenue Agency, the scheme currently offers the following benefits: Bear in mind that these tax incentives only apply to income derived from employment (including self-employment), and not other sources, such as rent or capital gains. To qualify under the current rules, you should not have been resident in Italy for at least the previous three tax years, and must commit to moving your tax residency to Italy for at least four years. If you move away from Italy before the four years are up, you'll be required to repay the savings with interest. The length of time beneficiaries must have lived outside of Italy increases to six tax years for those continuing to work for the same group of companies after moving to Italy, and seven if the worker previously worked for that same group in Italy. Italian citizens are considered to have been resident abroad if they were registered with AIRE (Anagrafe Italiani Residenti all'Estero) or were resident in a country with which Italy has a double taxation agreement. While there were previously no restrictions around a beneficiary's level of education or qualifications, as of 2024, they must meet the definition of 'highly qualified' under Italian law. That means having a three-year degree that is recognised by Italy, and a professional qualification that falls within Level 1, 2 or 3 of the Italian Institute of Statistics' official jobs classification. To claim the benefit, employees should make a written request to their employer showing that they meet the requirements; the discounted tax rate will then be applied to monthly salary instalments going forward. If you file the request after the tax year has already started, you can ask Italy's revenue agency to reimburse you for the months for which the discount was not applied when you submit your annual tax return. Self-employed people can claim the benefit when they file their tax return. If you were planning a move to Italy and qualify under the new rules, taking advantage of the regime seems like a no-brainer. As things stand, however, the benefits may not be enough to actively incentivise people to relocate; this is particularly true for self-employed workers, whose incomes are subject to steep social security payments before tax. It's also important to bear in mind that the regime is only available to people who already have the right to live and work in Italy - that is, EU citizens or people with visas that allow the holder to work.
Local Italy
15-04-2025
- Politics
- Local Italy
How can Italians living abroad vote in the citizenship referendum?
Italy will hold a landmark referendum on easing citizenship by residency rules on Sunday, June 8th and Monday, June 9th. The referendum will ask Italians to vote on a proposal to create a quicker path to citizenship by cutting the current 10-year residency requirement in half, down to five years. If passed, the reform would align Italy – which is often regarded as having one of the toughest naturalisation regimes in Europe – with countries such as the UK, France and Germany. According to estimates from the +Europa party, if approved, the changes would make around 2.5 million residents eligible for Italian citizenship. Any Italian national over the age of 18, including those with dual nationality, is eligible to vote in the referendum. While Italian citizens living in Italy will be able to cast their vote by heading to their assigned polling station in their municipality (comune) of residence, Italians living abroad will have the opportunity to vote by post in line with the conditions and deadlines set by the foreign ministry. So what are these conditions and deadlines? First of all, in the case of Italian citizens permanently residing abroad, the option to vote by post is only granted to those registered with AIRE. AIRE (acronym for Anagrafe Italiani Residenti all'Estero) is essentially a register holding the personal data, including the vital records and home address, of Italian citizens living outside of Italy. Registering with AIRE is free of charge and must be done via the Italian Foreign Ministry's FastIt portal. See more details about registering in our separate guide. Italian citizens who normally live in Italy but expect to be abroad for at least three months (and no more than 12 months) for reasons related to work, study or medical treatment can also vote by post provided that the referendum dates fall within the period of time they spend abroad. The same postal voting system is available to their family members. Registration with AIRE is not required for Italian nationals who are temporarily abroad. In this case, however, citizens must communicate that they wish to vote by post through the following form, which must be filled out and sent to the Italian comune of residence via post, email or proxy by Wednesday, May 7th. Wednesday, May 21st. The papers will come in an envelope (plico elettorale) including instructions on how to return them to the relevant Italian consulate. If, come Sunday, May 25th, you have not received your plico yet, you'll be able to ask for a duplicate by getting in touch with your Italian consulate. It's worth noting here that, besides the citizenship referendum, you will be asked to vote in four other referendums. These concern labour law provisions on unlawful dismissals, severance compensation in small businesses, employment contract conditions and contractors' liability over workplace injuries. You can find further details (in Italian) here. All in all then, you will receive a total of five schede elettorali (ballot papers) posing a simple yes/no question, with one of the papers asking you whether or not you want to reduce the requirement for citizenship by residency applications from 10 to five years. Once you have cast your vote, you'll be responsible for ensuring that the completed ballots are received by the relevant Italian consulate by 4pm local time on Thursday, June 5th at the latest. Ballot papers received after the above deadline will not be accepted as consulates will officially start sending the ballots to Italy for counting (scrutinio).
Yahoo
13-04-2025
- Health
- Yahoo
Free air purifiers available for South Bay residents: Here's how to apply
CHULA VISTA, Calif. (FOX 5/KUSI) — Residents in South Bay communities near the Tijuana River Valley can apply for a free air purifier part of a new program. The San Diego County Air Pollution Control District's (SDAPCD) new program will give out free air purifiers to some households impacted by the odors from the sewage flows at the U.S.-Mexico border. EPA Chief Lee Zeldin to visit US-Mexico border, examine Tijuana sewage crisis Most households in the southern San Diego communities of Otay Mesa West, San Ysidro, Egger Highlands, Nestor, the Tijuana River Valley, and the City of Imperial Beach can apply for the Air Improvement Relief Effort (AIRE) Program. Residents can visit to check eligibility for the program by their address. SDAPCD says priority will be given to homes with children and people over 65 years of age, and in communities closest to the Tijuana River Valley. Those that are chosen will receive a free air purifier and up to two replacement filters that will be shipped by the manufacturer. CDC health survey shows impacts of Tijuana sewage crisis on South Bay residents SDAPCD noted that due to limited quantities not all eligible households will receive an air purifier. Residents in southern San Diego County have been dealing with impacts from the cross-border pollution for years, including air and water quality. Toxic sewage from Tijuana River impacts Imperial Beach Little League SDAPCD says the air purifiers will be given to homes directly impacted by the hydrogen sulfide odors, which smells similar to 'rotten eggs,' that is produced by the transboundary wastewater and sewage flows near the Tijuana River Valley. The air purifiers help to improve air quality by reducing contaminants and pollutants in a room. The health and environmental impacts from the sewage pollution caught the attention of the Centers for Disease Control and Prevention (CDC), which sent officials to conduct a public health survey in late 2024. The results of that study found a majority of residents said they have health concerns, symptoms and quality-of-life issues. In early April, EPA Chief Lee Zeldin posted on social media intentions to visit the U.S.-Mexico border in the coming weeks to see first-hand the impacts from the sewage crisis after years of repeated calls for action from the federal government. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
24-02-2025
- Business
- Yahoo
reAlpha Tech Corp. (AIRE): Among the Hot Penny Stocks to Buy Now
We recently compiled a list of the . In this article, we are going to take a look at where reAlpha Tech Corp. (NASDAQ:AIRE) stands against the other hot penny stocks. On January 2, Royce Investment Partners published their analysis regarding the performance of the small caps during the fourth quarter of 2024. The report highlighted that small-cap stocks, represented by the Russell 2000 Index, achieved a modest gain of 0.3%, marking the second consecutive positive quarter. However, this performance lagged behind large-cap stocks, as the Russell 1000 Index rose by 2.7% in the same period. Francis Gannon, Co-Chief Investment Officer, and Managing Director, pointed out a unique "bowl-shaped" return pattern among US equities in the last quarter of 2024, with the Russell Microcap Index increasing by 5.9% and the Russell Top 50 Index by 5.5%. Gannon highlighted that while December's results were disappointing for many stocks, particularly small-cap and micro-cap indexes, the overall year was strong for small-cap performance, with an annual increase of 11.5%. However, on the other hand, this also marked the eighth consecutive year where small-caps underperformed relative to large-caps. Historically speaking the data reveals that the Russell 2000 has only outperformed the Russell 1000 in four of the last twenty years, with a significant underperformance streak noted since 2016. Gannon acknowledged that this is a long period of wait to see small cap leadership but he sees promising signs for the leadership to be just around the corner. While explaining his bullish sentiment Gannon discussed the dynamics of volatility in the US equity markets. He contrasted large-cap and small-cap stocks' performance in 2024 and noted that large-cap stocks experienced relatively low volatility throughout the year, as indicated by the CBOE Volatility Index. Apart from a brief spike in early August, large-cap stocks maintained a notably stable performance, mirroring trends observed in 2023. However, on the other hand, small-cap stocks exhibited a slightly different volatility profile. Gannon highlights that historically, about 42% of trading days in the Russell 2000 see price movements of 1% or more. In 2024, this figure was marginally lower at 41%, indicating that small-caps remained somewhat volatile but not significantly. He emphasizes that this trend of volatility is expected to change, predicting a return to more typical levels of volatility across stocks in 2025. He encouraged investors to view increased volatility not merely as a source of fear but as an opportunity for long-term investment strategies. To create the list of 10 hot penny stocks to buy now, we used the Finviz stock screener. Using the screener we first aggregated a list of penny stocks (price between $1-$5) and then sorted it in ascending order of their 6-month performance. Next, we ranked these stocks based on the number of hedge fund holders, in ascending order, sourced from Insider Monkey's Q4 2024 database. Please note that the data was collected on February 20, 2025. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 363.5% since May 2014, beating its benchmark by 208 percentage points (). An aerial shot of a large real estate investment trust, its properties sprawling across the ground Tech Corp. (NASDAQ:AIRE) uses artificial intelligence to make the process of buying a home easier and more affordable. It offers a platform where homebuyers can purchase properties without paying traditional commission fees, which can be quite high. The company has also developed various AI tools that help users throughout the home buying process such as Claire, an AI real estate agent available 24/7 to answer questions and guide users through buying a home, and Market Insights, which provides detailed property data and market insights, helping buyers make informed decisions. reAlpha Tech Corp. (NASDAQ:AIRE) has been making significant developments. During the fiscal third quarter of 2024, the company announced completing its fifth acquisition. It acquired Be My Neighbor, a mortgage brokerage licensed in 27 states of the US. Moreover, the company also launched its Mobile App called reAlpha Super App. As a result of these developments, the company grew its revenue by a staggering 475% year-over-year and exceeded its previous guidance by 274%. Looking ahead, the company expects to grow revenue by 130% to 190% in the next quarter. It is one of the hot penny stocks to buy now. Overall AIRE ranks 10th on our list of the hot penny stocks to buy now. While we acknowledge the potential of AIRE as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AIRE but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
