Italy Villages Offer over ₹25 Lakh to Move There
Life & Style

Italy Villages Offer over ₹25 Lakh to Move There

The Italian region of Calabria is providing €28,000 (about Rs 25 lakh) to individuals who are open to moving to small villages, with an aim to fight its declining population. However, the applicants should be no older than 40 years, must be ready to move within 90 days once approved, and set up a either a new venture or accept existing offers for specific professions sought by the region.

Famous for its stunning coastal beauty and mountainous landscapes, Calabria, over the years, has faced a significant population decline. To address this issue, it has planned this scheme. Under the plan, it will provide financial incentives to young individuals eager to work and contribute to the local economy. In return, they would receive a monthly income that could range from £26,000 (Rs 26.48 lakh) over a three-year period or a one-time lump sum to support the launch of a new commercial endeavour.

Restaurants, shops, bed and breakfasts, or hotels are among the most preferred business ventures encouraged by the local officials.

The initiative, known as Active Residency Income, is set to open applications in the coming weeks, with approximately £620,000 (Rs 6.31 crore) earmarked to fund the scheme. The initiative might serve as a precursor to more extensive repopulation projects. Villages that will pay people to move in include Civita, Samo and Precacore, Aieta, Bova, Caccuri, Albidona, and Santa Severina.