Italian Villages offering ₹25 Lakhs to move there. But what'

Italy, a land of captivating history, breathtaking scenery, and mouthwatering cuisine, has always been a sought-after destination for dreamers and wanderers. Now, a remarkable opportunity awaits those yearning for adventure in the charming villages of Calabria.

What's the Deal?

Calabria, an Italian region, has a unique plan in store, offering €28,000 (approximately Rs 26 lakh) to those willing to make the leap to charming small villages. But there's a twist: newcomers must also establish a small business, either a fresh startup or accept existing opportunities in professions sought after by these towns. Furthermore, applicants should be under 40 and ready to pack their bags for Calabria within 90 days of their application's approval.

Where and When?

Calabria, often referred to as Italy's "toe," is extending this enticing invitation to young, entrepreneurial spirits.

Why the Generous Offer?

The Italian government is on a mission to combat the decline in population. In 2021, more than 75% of the towns in Calabria, approximately 320 communities, had fewer than 5,000 residents.

This trend raises concerns that some of these towns could face the risk of depopulation within a few years if regeneration efforts don't take place. Dubbed "active residency income," this initiative aims to make Calabria more appealing for "south-work," a novel take on remote work tailored for southern Italy.

Mayor Gianpietro Coppola of Altomonte, one of the initiative's key supporters, envisions it as an experiment in social inclusion.

He aims to draw people to the region, allowing them to savour the landscapes and revitalize unused town locations like conference halls and convents, all equipped with high-speed internet.

It's a fresh approach to rejuvenating Italy's south, different from the uncertain tourism and the one-euro houses.

How Does it Work?

The plan is straightforward: offer financial incentives to young individuals eager to work and contribute to the local economy. In return, they'll receive a monthly income that can total £26,000 (about Rs 26.48 lakh) over a three-year period or a one-time lump sum to kickstart a new business venture.

Who's Eligible to Make the Move?

The call is open exclusively to those under 40, and they must be prepared to relocate within 90 days of their application's approval. The vital requirement is that prospective residents must be ready to establish a business, either from scratch or by filling specific professional roles identified by the villages. It's a golden opportunity for those with a sense of adventure and an entrepreneurial spirit.