Sardinia is an idyllic Italian island that the government is currently incentivizing people to move to by offering grants of up to $15,000.
The program will receive $40 million in funding, with the objective of enticing people to rural parts of Italy and boosting commerce in small towns by providing significant financial assistance to homebuyers.
Sardinia is a magnificent island that has long been regarded as a natural treasure with over 1,000 kilometers of sandy beaches, picturesque harbor communities, and bronze-age ruins dating back to 1500 BC.
The countryside remains an attractive place for tourists, despite the fact that it is suffering from a declining population and economy as younger generations migrate to greater metropolises for employment.
In a statement, Sardinian President Christian Solinas said: “Thanks to these contributions to [homebuyers’] first houses, [Sardinia] becomes fertile ground for those who will move there or decide to build a family.”
“There can be no growth without a real enhancement of the territories, of the interior and most disadvantaged areas, which must pass through new policies for their repopulation.”
“We have created the conditions for young people to decide to stay and develop the economic fabric of the most fragile territories.”
The appealing awards are part of a countrywide program aimed at enticing individuals to purchase run-down farms, renovate them, and establish new enterprises in the countryside of Italy.
According to Schengen Visa News, there are several restrictions when it comes to receiving more than $15,000 to relocate to one of Europe’s most beautiful islands.
The first and most important point to consider is that cash can only be used to pay for a property in Sardinia.
The property must also be situated in a municipality with 3,000 people or fewer because these are the towns that need an economic shot in the arm the most.
Although the maximum amount of $15,000 will be paid in some situations, it can’t exceed half of the property’s or planned renovations’ total cost or expenses, so homebuyers will still have to pay a significant amount from their own funds.
Finally, unless the buyer is planning to live in Sardinia full-time, they may not take up on the government’s offer.
The government states that grant recipients must apply for permanent residency in Sardinia within 18 months of their arrival to avoid wealthy individuals exploiting the scheme to acquire luxurious holiday homes.
Italy has previously tried a similar program to encourage the Calabrian region, which straddles the country’s ‘boot’ and is often known as ‘toe’.
Local governments were offering aid in the form of business grants up to $30,000, though this money could not be put towards purchasing a home.
The scheme was created for people aged under 40 who have intentions to start a business with evidence of a clear business plan, or experience in the ‘desired professions’ required in the area.
This summer, seasonal domestic workers and migratory workers were given one-time bonuses of €200 to incentivize them to fill labor shortages.
The European Commission issued a statement that said: “The DL 50/2022 law allows migrant workers to apply for the bonus, as long as they were residing in Italy before July 1 2022, and all income requirements are met.”
“Domestic workers can apply for the bonus directly on the [national social security institute] portal by 30 September 2022.”